Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
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.
Plasma Therapy Market Report Coverage
||Market Size in 2019:
||US$ 226.13 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 573.04 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Type: Pure PRP, Leucocyte-rich PRP, Pure Platelet-rich Fibrin (PRF), Leukocyte-rich Fibrin (L-PRF).
- By Application: Infectious Diseases, Dental, Nerve Injury, Cardiac Muscle Injury, Other Applications.
- By End-User: Hospitals & Clinics, Research Institutes, Others.
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
- An increasing number of product launches
- The increasing number of collaborations, partnerships and acquisitions
|Restraints & Challenges:
- High cost of treatment
- Lack of reimbursement
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