Global Plasma Protein Therapeutics Market: Snapshot
The global plasma protein therapeutics market is foretold to witness healthy growth on the back of several factors. Swelling use of immunoglobulins for the treatment of primary immunodeficiency disorders (PID), along with rising use of human immunoglobulins for novel indications and potency of plasma protein therapeutics to be used as a drug formulation agent are some of the prominent ones. Furthermore, emergence of novel plasma-derived therapies and uptake of modern therapeutics for disease indication in emerging economies is fuelling the plasma protein therapeutics market.
On the downside, however, limited reimbursement scenarios and strict regulations in place that oversee end-to-end handling of plasma protein products are bottlenecks to the market’s growth. Considering a host of positive factors, Transparency Market Research (TMR), forecasts the global plasma protein therapeutics market to clock a CAGR of 6.3% between 2017 and 2024.
Vis-à-vis Revenue Immunoglobulins Product Type to Remain at Lead
In terms of product type, the plasma protein therapeutics market comprises coagulation factors, immunoglobulins, C1-esterase inhibitors, albumins, and others (alpha-1 proteinase inhibitors and hyperimmune globulin). Immunoglobulins, among them, currently account for the leading share in this market. Going ahead, the immunoglobulins segment is anticipated to be worth US$15,516.0 mn by 2024 vis-à-vis revenue. Intravenous immunoglobulin (IVIG) is a key product obtained from large collection of human plasma with antibodies against a host of bacterial and viral agents. IVIG finds widespread applications in PIDs and neurological applications. Within immunoglobulin, hyperimmunoglobulin and subcutaneous immunoglobulin are some other key sub-segments.
Albumin segment is a key one due to its usage as a plasma replacement or expander for therapeutic purposes. Sepsis, septic shock, burn therapy, renal dialysis, and therapeutic plasma exchange are key therapeutic areas where human albumin is used. In addition, increasing applications of human albumin as a drug formulation agent, sealant in surgeries, vaccine ingredient, and coating for medical devices and equipment are likely to up its market share in the years ahead.
On the other hand, concentrated coagulation factor within coagulation factor segment is likely to display declined share over the forecast period between 2017 and 2024.
Need to Diagnose Unidentified Cases of PID Globally to Boost Growth of PID Application Segment
The key segments of the plasma protein therapeutics market based on application are hemophilia, primary immunodeficiency disorder, idiopathic thrombocytopenic purpura, hereditary angioedema, secondary immunodeficiency, and others.
Out of these, primary immunodeficiency diseases (PIDs) hold substantial share in the plasma protein therapeutics market. Worldwide approximately 6 million individuals are anticipated to live with PID, of which only 27,000 to 60,000 have been identified. Plasma immunoglobulins are widely used to treat PIDs. With increasing demand and expansion of clinical product lines of immunoglobulins, the PID segment is likely to witness a surge. The PID segment is anticipated to be worth US$5,880.68 mn by 2024.
Geography-wise, North America and Europe are leading regions for plasma protein therapeutics. This is mainly because majority of plasma for the manufacture of plasma protein products is collected in over 450 collection centers in the U.S. and Europe. Vast amount of plasma protein products are exported from the U.S. and Europe to countries in Asia Pacific.
Leading companies in the global plasma protein therapeutics market are Octopharma, Baxalta, CSL Behring, and Grifols S.A. Some other companies operating in the global plasma protein therapeutics market are Biotest, China Biologics, Kedrion Inc., and Shire plc.
Global Plasma Protein Therapeutics Market: Overview
Transparency Market Research’s new report on the global plasma protein therapeutics market presents detailed insights into growth of the market for the 2017-2024 forecast timeframe. The growth analysis of this market for the aforementioned forecast period is presented based on past and current growth scenario. The report comprises a detailed executive summary, wherein a market snapshot provides information on various segments and sub-segments. Included in this section is valuable insights into leading segments in terms of product type, application, and geography. The report presents revenue projections of leading segments in terms of US$ Mn.
The market overview section provides qualitative analysis of the overall plasma protein therapeutics market, which looks into growth indicators and factors governing this market through 2024. In addition, market attractiveness analysis based on growth in key regional markets and competitive outlook of the plasma protein therapeutics market are a highlight of this section. The competitive hierarchy has been evaluated based on market share analysis of companies in the plasma protein therapeutics market. Insights into competitive landscape will help existing as well as new participants to formulate lucrative strategies to establish in this market.
Global Plasma Protein Therapeutics Market: Research Methodology
The report is a result of a meticulous primary and secondary research phase. Primary research constitute major part of research efforts wherein analysts reached out to industry experts and opinion leaders for insights on the growth of plasma protein therapeutics market. Analysts conducted face to face interviews, telephonic interviews along with e-mail interactions to reach out to industry experts. Participants reached out in the primary research phase typically include biologists, academicians, researchers, and medical personnel.
Secondary research comprised study of company websites, press releases, relevant business documents, annual reports, and various national and internal databases. Science journals, industry publications, trade publications, technical literature, and webcasts specific to companies were some other secondary sources reached out for the study. The extensive secondary research phase helped evaluate market size, top products, top industry players, industry associations, etc.
Following primary and secondary research, data triangulation method along with inputs from in-house experts validated the growth analysis of plasma protein therapeutics market. Using MS-Excel, data was sorted to further aid determine the growth chart of plasma protein therapeutics market. Finally, insights obtained from industry experts and information scrutinized were collated in PDF format.
Global Plasma Protein Therapeutics Market: Competitive Outlook
Included in the report is a competitive dashboard of the plasma protein therapeutics market. It identifies leading players operating in the plasma protein therapeutics market along with an elaborate competitive profile of each of them. Technological advancements, product portfolio, business strategy, and financials are some of the parameters based on which key players in the plasma protein therapeutics market have been profiled. An analysis of strength, weakness, threat, and opportunities of key players through 2024 is a highlight of this report.