Plasma therapy is used for treatment of many disorders such as hair loss, tendon injuries, acute injuries, post-surgical repair, and osteoarthritis and currently for treatment of COVID–19. Several manufacturers are initiating plasma processing in order to tackle the spread of the coronavirus across the world. Therefore, the global plasma therapy market is expected to witness significant growth during the forecast period.
Global Plasma Therapy Market - Impact of the Coronavirus (COVID – 19) Pandemic
On 24th August 2020, the Food and Drug Administration (U.S. FDA) approved the Convalescent plasma therapy for treatment of Covid – 19 patients in the U.S., without completing the clinical trial due to the exponential increase in the coronavirus infected patients. Convalescent plasma therapy uses blood from people who've recovered from the coronavirus infection to help others recover. On 3rd June 2020, researchers from the Houston Methodist Hospital in the U.S. initiated clinical trials for recording efficacy of the plasma therapy when plasma is transfused from recovered Covid-19 patients into critically ill patients. According to the researchers, 19 out of 25 patients were showing signs of recovery post plasma therapy and 11 patients were later discharged from the hospital following recovery.
Furthermore, many organizations are involved in increasing awareness about donation of plasma. Therefore, the global plasma therapy market is expected to witness growth due to the lack of an appropriate proper vaccine or drug for the treatment of Covid – 19 patients.
The global plasma therapy market is estimated to be valued at US$ 226.13 million in 2020 and is expected to exhibit a CAGR of 14.1% during the forecast period (2020-2027).
Figure 1: Global Plasma Therapy Market Share (%) Analysis, By Type 2020
Companies are engaged in inorganic activities such as collaborations to develop new treatment plans for patients suffering from the coronavirus.
For instance, on 7th April 2020, Takeda and CSL Behring collaboratively developed a new treatment for patients suffering from the coronavirus infection. The treatment plan involves using blood plasma of patients who have recovered from the infection by further isolating the antibodies from the plasma and injecting it in patients. This therapy triggers an immune response in the body of the patients which can help them survive the infection. Such collaborations are expected to increase the global plasma therapy market growth during the forecast period.
Product launches are expected to drive growth of the global plasma therapy market during the forecast period.
For instance, in 2019, Adimarket, LLC, a subsidiary of the Global Stem Cells Group, launched platelet rich plasma (PRP). PRP is a new treatment option in regenerative medicine. Adimarket, LLC, will provide the PRP kit to physicians along with the treatment protocol, so that patients requiring critical aesthetic, wound and orthopedic care can receive affordable and easy treatment.
Global Plasma Therapy Market – Restraints
The absence of compensation policies as well as high cost of the plasma therapy treatment are expected to restrain the global plasma therapy market growth during the forecast period.
|Base Year:||2019||Market Size in 2019:||US$ 226.13 Mn|
|Historical Data for:||2016 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||14.1 %||2027 Value Projection:||US$ 573.04 Mn|
Octapharma AG, China Biologic Products Holdings, Inc. Bio Products Laboratory Ltd., Kedrion S.p.A , Grifols, S.A., CSL, Biotest AG., Takeda Pharmaceutical Company Limited., DePuy Synthes, Regen Lab SA and LFB SA
|Restraints & Challenges:||
Global Plasma Therapy Market – Regional Analysis
Companies in North America are focused on inorganic strategies such as collaborations and partnerships to increase the supply of plasma to processing centers and ensuring that a treatment option is available for rare and serious disorders. For instance, in 2017, KEDPLASMA LLC, a subsidiary of Kedrion Biopharma Inc. entered a plasma supply agreement with ImmunoTek Bio Centers, LLC, in which, the ImmunoTek Bio Centers, LLC, developed a total of 28 plasma collection centers for Kedplasma LLC in the U.S. Kedplasma will use the plasma to manufacture different plasma therapies for rare and chronic disorders. Such factors are expected to drive the plasma therapy market growth in North America.
Figure 2: Global Plasma Therapy Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027
Governments in Asia–Pacific are involved in research and development of new treatments for COVID-19. For instance, on 30th June 2020, the government of Maharashtra, a state in India, launched Platina, one of the largest trials across the globe for treatment of COVID-19 patients. The project aims to provide free plasma therapy at 21 government centers in Maharashtra to increase the chances of survival of the infected patients. The government is also spreading awareness among recovered patients regarding plasma donation so that the plasma can be processed and utilized for therapy. Such projects are expected to boost the global plasma therapy market growth during the forecast period.
Global Plasma Therapy Market – Competitive Landscape
Some of the key players involved in the global plasma therapy market are Octapharma AG, China Biologic Products Holdings, Inc. Bio Products Laboratory Ltd, Kedrion S.p.A , Grifols, S.A., CSL, Biotest AG., Takeda Pharmaceutical Company Limited., DePuy Synthes, Regen Lab SA, LFB SA., and Immunotek Bio Centers
Plasma therapy is a promising treatment against coronavirus, and many rare and serious disorders. The blood which is donated by the donor is processed in a processing facility to obtain plasma. Similarly, for treatment of coronavirus infected patients, the plasma is isolated from the donor. The donor is also the patient who is recovered from the infection. The donor plasma consists of antibodies which were generated in order to fight the antigens i.e. the coronavirus. The blood from the donor is processed in processing centers which is then injected in the blood of the patients.
Regulatory authorities are interested in conducting clinical trials for development of new treatment options for coronavirus infected patients. For instance, on 18th April 2020, The Drug Controller General of India accepted the proposal of the Indian Council of Medical Research (ICMR) for conducting clinical trials of convalescent plasma in COVID-19 patients. The ICMR has submitted a list of institutes which are interested in the trial.
In convalescent plasma therapy, the antibodies are recovered from the blood of patients who have recovered from COVID-19 and are injected in the blood of injected patients. The clinical trial aims to assess the efficacy of convalescent plasma to limit complications in COVID-19 patients and to evaluate the safety of treatment with anti SARS-CoV-2 plasma in coronavirus-infected patients. The rising number of clinical trials is expected to increase treatment options for coronavirus infected patients and spur the global plasma therapy market growth during the forecast period.
Companies are receiving approvals from regulatory authorities for the setup of a new manufacturing facility. For instance, in 2019, Takeda Pharmaceutical Company Limited received approval from the U.S Food and Drug Administration (U.S FDA) for its new pharmaceutical manufacturing facility near Covington, Georgia. The facility will produce FLEXBUMIN 25% [Albumin (Human), USP, 25% Solution]. The medicine is indicated for hypovolemia, hypoalbuminemia, (burns, Adult Respiratory Distress Syndrome, and nephrosis, cardiopulmonary bypass surgery, and hemolytic disease of newborns. The new facility will expand the product portfolio of the company which is expected to favor the global plasma therapy market growth during the forecast period.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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