BLOOD PLASMA DERIVATIVES MARKET ANALYSIS

The global blood plasma derivatives market was valued at US$ 40.80 Bn in 2022 and is forecast to reach a value of US$ 82.62 Bn by 2030 at a CAGR of 9.30% between 2023 and 2030. The global blood plasma derivatives market is experiencing strong growth due to the rise in burden of genetic diseases and increasing number of plasma collection centres across the globe. Furthermore, high demand for blood plasma derivatives and growing geriatric (aging) population worldwide is expected to boost growth of the market. However, factors such as high cost of treatment or therapy and side effects of plasma derivatives are expected to hamper the market growth.

Global Blood Plasma Derivatives Market: Regional Insights

Based on geography, the global blood plasma derivatives market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period owing to the increasing prevalence of various genetic diseases, rising geriatric population, increasing research and development (R&D), and increasing number of plasma collection centres in the region. For instance, in March 2023, BioLife Plasma Services announced the opening of its 200th plasma donation centre in the United States, with new locations in West Springfield, Mass. and Pearland, Texas to address the urgent and growing need for plasma. Individuals with rare and serious conditions will now to receive life-saving plasma therapies.

Europe and Asia Pacific are also expected to witness significant growth in the global blood plasma derivatives market due to the rise in burden of genetic diseases, growing geriatric population, rise in number of plasma collection centres, and increasing research and development in these regions. For instance, in April 2023, Biotest announced the opening of its 10th plasma collection centre in Germany and to contribute to more plasma collection as plasma shortage in Germany and Europe has worsened in recent years due to corona pandemic. Plasma Service Europe GmbH, a subsidiary of Biotest AG, was founded over 20 years ago to strengthen plasma collection in Germany.

Figure 1. Global Blood Plasma Derivatives Market Share (%), by Region, 2023

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Global Blood Plasma Derivatives Market Drivers:

Rise in burden of genetic diseases to augment market growth

One of the key factors expected to augment growth of the global blood plasma derivatives market over the forecast period is the rise in burden of genetic diseases across the world. According to the World Health Organization (WHO), genetic disorders and congenital abnormalities occur in about 2%-5% of all live births, account for up to 30% of paediatric hospital admissions and cause about 50% of childhood deaths in industrialized countries. Moreover, genetic and congenital disease are responsible for a considerable proportion of perinatal and neonatal mortality across the globe. This in turn is driving the growth of the market.

Rising number of plasma collection centres to drive market growth

Another factor driving the growth of the global blood plasma derivatives market is the increasing number of plasma collection centres across the globe. For instance, in November 2021, Grifols, a leader in the development of plasma-derived therapies, announced the opening of its 300th plasma donor centre in the U.S. to help meet the urgent need for plasma. It is an important step forward in Grifols’ efforts to increase plasma collection in the greater New England area, as well as continue to expand awareness about the importance of plasma donations. Now, local residents will be able to donate and do their part to help enhance patients’ quality of life.

Global Blood Plasma Derivatives Market Opportunities:

High demand for blood plasma derivatives is expected to provide significant growth opportunities for players in the global blood plasma derivatives market. For instance, in October 2022, Takeda and United Nations Institute for Training and Research (ITAR) announced educational partnership with goal of creating an impartial platform where stakeholders from all sectors can come together to brainstorm solutions to address shortage of plasma and plasma-derived therapies. Each country will set up a platform to find a more sustainable way of plasma sourcing both locally and afar. This in turn is driving the growth of the market.

Growing geriatric (aging) population worldwide is expected to offer lucrative growth opportunities for players in the global blood plasma derivatives market. For instance, geriatric (aging) population is more susceptible to rare disorders, which in turn increase the use of plasma-based products for the treatment. Moreover, with the growing geriatric population, the burden of rare diseases is also increasing with a rapid pace worldwide. According to WHO, October 2022, by 2030, one in six people in the world will be aged 60 years or over., and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).

Global Blood Plasma Derivatives Market Trends:

High demand for immunoglobulin is a recent trend

Intravenous immunoglobulin (IVIG) is a pooled antibody, and a biological agent used to manage various immunodeficiency states and a plethora of other conditions. The ultimate goal of therapy is to normalize a compromised immune system. According to the study published in May 2022 in the Therapeutics advances in Chronic Diseases, intravenous immunoglobulin (IVIG) was reported to be one of the top three most used monotherapy in livedoid vasculopathy (LV). Moreover, it is a safe and effective treatment for rare diseases. The trend of using immunoglobulins (Ig) in various therapeutic areas is expected to continue over the forecast period.

Introduction of novel products is another trend

Players in the market players are engaged in various activities, such as product development and launches, partnerships, mergers, and acquisitions to bring technologically advanced products and techniques in the market. For instance, in January 2022, Octapharma announced that the indication for cutaquig, a human immunoglobulin for subcutaneous administration, has been expanded in the European Union (EU), providing more flexible treatment options to a wider range of patients with acquired immune deficiencies. This trend is also expected to continue over the forecast period.

Global Blood Plasma Derivatives Market Restraints:

High cost of plasma therapy to hamper market growth

One of the key factors expected to hamper growth of the global blood plasma derivatives market is the high cost of treatment or therapy. For instance, the cost of blood plasma preparation is high due to the specialized and cumbersome manufacturing process. Average cost of immunoglobulins preparations is US$ 73.89 per gram, and the average cost of entire therapy cost is over US$ 10,000, depending on the severity of the diseases. In developing economies, the cost of therapy is a major barrier for the growth of the blood plasma derivatives market.  

Side effects of plasma derivatives to hinder market growth

Another factor which is hampering the growth of the global blood plasma derivatives market is the side effects of plasma derivatives. Donating plasma does not cause any side effects, but some donors can experience fatigue, bleeding, bruising, or dehydration. Moreover, donor may feel dizzy or lightheaded. It's rare, but more serious infections or reactions can occur, which can be treated. Moreover, side effects such as dizziness, allergic condition, shortness in breath, and fast heartbeats are expected to hamper the growth of the market.

Figure 2. Global Blood Plasma Derivatives Market Share (%), by Type, 2023

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Global Blood Plasma Derivatives Market Segmentation:

The global blood plasma derivatives market report is segmented into Type, Application, and Region.

Based on Type, the market is segmented into Albumin, Factor VIII, Factor IX, Immunoglobulin, Hyperimmune Globulin, and Others. Out of which, Albumin Segment is expected to dominate the blood plasma derivatives market over the forecast period and this is attributed to the increase in albumin product usage for non-therapeutic application and rise in adoption of albumin products.

Immunoglobulin Segment is also expected to witness significant growth in the near future and this is owing to the growing use of immunoglobulins in various therapeutic areas.

Based on Application, the market is segmented into Hemophilia, Hypogammaglobulinemia, Immunodeficiency Diseases, Von Willebrand' disease (VWD), and Other Application. Out of which, Hemophilia Segment is expected to dominate the market over the forecast period and this is attributed to the rise in burden of Hemophilia.

Immunodeficiency Diseases Segment is also expected to witness significant growth in the near future and this is owing to increasing prevalence of immune deficiency disorders.

Global Blood Plasma Derivatives Market: Key Developments

In October 2022, Grifols SA inaugurated a new albumin purification and filling plant at its global manufacturing and supply hub in Dublin, Ireland.

In September 2022, CSL Behring K.K. received manufacturing and marketing approval from the Ministry of Health, Labour and Welfare of Japan for Berinert S.C. Injection 2000, a lyophilized human C1-esterase inhibitor concentrate for subcutaneous (SC) injection in plasma derivative, for the prevention of acute hereditary angioedema (HAE) attack.

In March 2021, Grifols S.A. acquired 25 U.S.-based plasma centres from BPL ensuring one Billion additional litters for fractionation to improve people's lives.

Global Blood Plasma Derivatives Market: Key Companies Insights

The global blood plasma derivatives market is highly competitive. This is attributed to the growing geriatric population coupled with rise in prevalence of rare diseases, as a result, market players are focusing on launching novel products in the market.

Some of the key players in the global blood plasma derivatives market are Shire Plc., CSL Limited, Octapharma AG, LFB S.A., Biotest AG, Grifols, S.A., SK Plasma Co., Ltd., Baxter International Inc., Green Cross Corporation, and Fusion Health Care Pvt. Ltd., among others.

*Definition: Plasma is a liquid portion of blood. About 55% of the blood is plasma, and remaining 45% are red blood cells, white blood cells, & platelets that are suspended in the plasma. Products made from human plasma using plasma fractionation techniques are known as plasma derivatives.