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The plasma therapeutics market share is expected to increase by USD 8.98 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.1%.
This plasma therapeutics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers plasma therapeutics market segmentations by product (immunoglobulin, albumin, blood factors, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)). The plasma therapeutics market report also offers information on several market vendors, including ADMA Biologics Inc., Bio Products Laboratory Ltd., BIOPHARMA PLASMA, CSL Ltd., Emergent BioSolutions Inc., Evolve Biologics Inc., Grifols SA, Kamada Ltd., Kedrion Spa, Octapharma AG, Pfizer Inc., Prothya Biosolutions Netherlands BV, SK Discovery Co. Ltd., and Takeda Pharmaceutical Co. Ltd. among others.
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The high demand for albumin in China is notably driving the plasma therapeutics market growth, although factors such as existence of plasma fractionation supply and demand gap may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the plasma therapeutics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Plasma Therapeutics Market Driver
One of the key factors driving the global plasma therapeutics market growth is the high demand for albumin in China. China is one of the largest markets for albumin products in the global plasma therapeutics market, followed by the US market. The demand for plasma products, especially albumin and immunoglobulins, is outstripping the supply. This is because of the stringent regulations imposed on the supply of raw materials and a ban on the import of plasma products. For instance, since 1986, the Government of China has forbidden all plasma and blood-derived products from being imported into China, with the exception of human albumin. Therefore, vendors are focusing on strategic alliances to expand their presence in China. For instance, in March 2020, Grifols and Shanghai RAAS formed a strategic alliance in China. Such factors are expected to drive the growth of the market during the forecast period.
Key Plasma Therapeutics Market Trend
Establishment of plasma fractionation facilities in developing economies by global players is one of the key plasma therapeutics market trends that is expected to impact the industry positively in the forecast period. Plasma fractionation in developed countries is proving very costly, so there has been a growing focus of vendors to tap developing economies such as the Middle East, Africa, China, and India. For instance, in March 2021, China-based Oryx Biotech Holdings started the construction of a plasma fractionation plant in Bangladesh. The company invested around USD 300 million in the development of this facility. Going forward, to benefit from the unmet demand in the emerging markets and the incentives of opening such facilities in the region will drive global players to open a number of such facilities in the region. Such factors will further support the growth of the market during the forecast years.
Key Plasma Therapeutics Market Challenge
One of the key challenges to the global plasma therapeutics market growth is the existence of the plasma fractionation supply and demand gap. There is a huge demand for plasma-derived products in China; however, it is experiencing a considerable decrease in the supply of human plasma. The global plasma supply and fractionation capacity are currently constrained, and the leading players are Baxter, Grifols, and CSL Behring. The minimum capital expenditure required to set up a fractionation unit of 100,000-liter capacity is USD 100 million. In addition, the stringent regulatory framework imposed on the fractionation units is creating pressure on the investors. All these factors are expected to hinder the entry of new pharmaceutical companies, which, in turn, will negatively impact the growth of the market during the forecast period.
This plasma therapeutics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global plasma therapeutics market as a part of the pharmaceutical market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the plasma therapeutics market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the plasma therapeutics market encompasses successful business strategies deployed by the key vendors. The plasma therapeutics market is concentrated and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The plasma therapeutics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the plasma therapeutics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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47% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for plasma therapeutics market in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.
The presence of a large number of key vendors such as CSL Behring, ADMA Biologics, Inc., and Biotest Pharmaceuticals Corp will facilitate the plasma therapeutics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic positively impacted the growth of the market. The number of patients that require critical care witnessed an increase due to the pandemic, which fueled the demand for critical care therapeutics, including plasma therapeutics. Moreover, in 2021, the initiation of large-scale vaccination drives and the lifting of lockdown norms helped the market to grow. Thus, the regional market is expected to witness moderate growth during the forecast period.
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The plasma therapeutics market share growth by the immunoglobulin (IG) segment will be significant during the forecast period. The development of novel therapeutics to treat critical diseases will drive the growth of the market through this segment in the forecast years. For instance, CSL Behring, Takeda, and a few other vendors formed a strategic alliance in April 2020. These vendors are expected to develop IG-based medicine for critical diseases such as severe acute respiratory syndrome (SARS).
This report provides an accurate prediction of the contribution of all the segments to the growth of the plasma therapeutics market size and actionable market insights on post COVID-19 impact on each segment.
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Plasma Therapeutics Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.1% |
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Market growth 2022-2026 |
$ 8.98 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
5.2 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 47% |
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Key consumer countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ADMA Biologics Inc., Bio Products Laboratory Ltd., BIOPHARMA PLASMA, CSL Ltd., Emergent BioSolutions Inc., Evolve Biologics Inc., Grifols SA, Kamada Ltd., Kedrion Spa, Octapharma AG, Pfizer Inc., Prothya Biosolutions Netherlands BV, SK Discovery Co. Ltd., and Takeda Pharmaceutical Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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