by The global Blood Plasma Derivatives Market is estimated to be valued at US$ 44.33 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Blood plasma derivatives are therapeutic plasma products manufactured from blood plasma of healthy donors through fractionation process. Key plasma derivatives include albumin, factor VIII, factor IX, immunoglobulins, hyperimmune immunoglobulins and others. Albumin holds largest share in blood plasma derivatives market owing to widespread therapeutic applications in burns, shock, liver diseases and other conditions. Growing immunodeficiency and autoimmune diseases globally are majorly driving demand for plasma derived immunoglobulins and hyperimmune immunoglobulins.
Market key trends:
The major trend gaining traction in blood plasma derivatives market is increasing fractionation capacities of key industry players. Growing plasma collection by major industry players is allowing them to increase fractionation volumes and thereby scale up production of plasma derivatives globally. For instance, in 2021, Grifols commissioned new plasma fractionation facility in Ireland with annual capacity of 9 million liters of plasma. Similarly, CSL Behring expanded its facility in Pennsylvania, U.S. with additional fractionation capacity of over 8 million liters per annum. Rising production capacities are enabling companies to meet global demand of plasma products and achieve consistent supply of life saving derivatives for patients.
Porter’s Analysis
Threat of new entrants: The blood plasma derivatives market requires high level of R&D investments and regulatory approval, making it difficult for new players to enter.
Bargaining power of buyers: The bargaining power of buyers is moderate as demand for plasma derivatives is inelastic in nature due to its life saving applications.
Bargaining power of suppliers: The suppliers have lower bargaining power due to fragmented supply sources and strong bargaining power of global buyers.
Threat of new substitutes: There exists no cost effective substitute for plasma derivatives yet, limiting threat from new substitutes.
Competitive rivalry: The market is highly competitive with major global players owing to proprietary products and services.
Key Takeaways
The Global Blood Plasma Derivatives Market Size is expected to witness high growth, exhibiting CAGR of 9.3% over the forecast period, 2023 to 2030, due to increasing prevalence of hemophilia and growing autoimmune diseases.
Regional analysis: North America dominated the global market and held around 35% of the total market share in 2023 owing to increasing number of plasma collection centers and rising applications of plasma derivatives in the region. Asia Pacific is expected to witness fastest growth during forecast period owing to improving healthcare infrastructure and rising healthcare expenditure in major Asian countries like China and India.
Key players: Key players operating in the 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. CSL Limited is one of the leading players owing to its diversified product offerings.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
