The use of plasma protein therapeutics has significantly increased in medical applications. This, coupled with the rising aging population, its medicinal use in novel indications, and the advent of new plasma-derived therapies, has been propelling the market for plasma protein therapeutics. Transparency Market Research (TMR) projects the market to continue exhibiting robust growth worldwide between 2016 and 2024.
Recent advancements introduced in plasma protein therapeutics aimed at improving the quality of patient care have been pivotal in fuelling their demand. These advancements have also proven crucial in guaranteeing donor’s safety. The increasing demand for immunoglobulin (IG) and the increasing use of protein therapeutics will thus augment demand for plasma protein therapeutics. TMR expects, the global market for the same to rise at a CAGR of 7.0% between 2016 and 2024. The market stood at US$18.5 bn in 2015 and is expected to reach US$31.84 bn by the end of 2024. Despite exhibiting growth at a positive rate, stringent regulations and lack of proper reimbursement policies could hamper the market’s trajectory.
North America, trailed by Europe, Exhibits Most Lucrative Prospects for Market
Regionally, North America, Asia Pacific, Europe, Latin America, and Rest of the World constitute the most lucrative markets for plasma protein therapeutics. Among these regions, North America held the dominant share in the global market in 2015, trailed by Europe. New indications, the increasing geriatric population, and investments in novel researches are boosting prospects for the market in North America. As per TMR, the North America plasma protein therapeutics market is expected to reach US$13.8 bn by the end of 2024 from a valuation of US$7.5 bn in 2015. If the figures hold true, the regional market will exhibit a CAGR of 7.9% during the forecast period.
In Europe, demand for protein therapeutics is increasing consequent to the rise in the number of clinical indications for immunoglobulin. Since immunoglobulin finds application across hematology, neurology, dermatology, nephrology, immunology, ophthalmology, rheumatology, and others, demand for protein therapeutics in Europe is expected to remain high.
During the forecast period, TMR projects Asia Pacific to emerge as the most lucrative market for plasma protein therapeutics. The rising demand for albumin and immunoglobulin in Asia Pacific is bolstering prospects for expansion of the market in the region. Furthermore, the region is also known to import albumin and immunoglobulin from North America and Europe. China as per TMR, imports nearly half of its albumin supply in order to bridge the demand and supply gap. The albumin segment is thus expected to register the fastest growth in Asia Pacific. In Latin America, however, the plasma protein therapeutics market is restrained by low rate of diagnosis and treatment and high pricing.
Growth to be Facilitated by Rising Incidence of Immunodeficiency Disorders
Plasma protein therapeutics is increasingly used in the treatment of primary immunodeficiency disorder (PID). The PID segment is likely to exhibit a CAGR of 7.6% between 2015 and 2024. The PID treatment segment is poised to gain considerably from the increasing investment immunoglobulin. Furthermore, with the increasing incidence of secondary immunodeficiency disorders, applications of plasma protein therapeutics is likely to increase across the treatment of prolonged illnesses. The most common secondary immunodeficiency disorders include diabetes, myeloma, HIV infection, and under-nutrition. Despite being a rare disorder, treatment of hereditary angioedema (HAE) has become possible due to the growing awareness regarding the disease worldwide. This is expected to boost the demand for plasma protein therapeutics significantly.
Some of the leading players operating in the global plasma protein therapeutics market include
Baxter International, Biotest, CSL Behring, Grifols, S.A., Kedrion, Octapharma USA, Inc., Shire plc, and China Biologics.
Plasma derived proteins are biological medicines used extensively in the treatment of rare, life-threatening, chronic, and genetic diseases. This report on the global plasma protein therapeutics market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, which includes a market snapshot providing overall information on various segments and sub-segments. This section also provides complete information and data analysis of the global plasma protein therapeutics market with respect to the leading market segments based on product type, application, and geography. The report is a robust combination of primary and secondary research. Primary research formed the bulk of our research efforts with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various national and international databases. The report provides market size in terms of US$ Mn for each segment for the period from 2014 to 2024, considering the macro and micro-environmental factors. Growth rates for each segment within the global plasma protein therapeutics market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
Factors such as wide applications of human immunoglobulins and albumin, wide therapeutic areas, growing investment in research and development of new plasma proteins therapies, rising demand and widespread off-label use of IG are some of the major factors contributing to the rising demand for plasma proteins. Stringent regulations, reimbursement issues, and complexity of biologic manufacturing requirements are the major factors likely to hamper the plasma protein therapeutics market growth.
The market overview section of the report includes qualitative analysis of the overall plasma protein therapeutics market including the determining factors and the market dynamics such as drivers, restraints, and opportunities, along with Porter’s Five Forces Analysis. In addition, market attractiveness analysis by geography and competitive landscape by key players have been provided which explains the intensity of competition in the market considering different geographies. The competitive scenario between market players has been evaluated through market share analysis. These factors would help the market players take strategic decisions in order to strengthen their positions and increase their shares in the global market.
The global plasma protein therapeutics market has been segmented based on product type, application, and geography. Based on product type, the global plasma protein therapeutics market has been categorized into immunoglobulins, albumin, coagulation factor, C1 esterase inhibitors and others. Hemophilia, primary immunodeficiency disorder, idiopathic thrombocytopenic purpura, secondary immunodeficiency, hereditary angioedema, and other indications form the major applications of the plasma protein therapeutics market. Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2014 to 2024 has been provided for all the segments, considering 2015 as the base year.
Geographically, the plasma protein therapeutics market has been categorized into five regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World (RoW). The mentioned regions are further analyzed by major countries contributing largely to the market. The recommendations section included in the report are likely to assist the existing players to increase their market shares and new companies to establish their presence in the plasma protein therapeutics market. The report also profiles major players based on various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Major players in the global plasma protein therapeutics market are Baxter International, Biotest, CSL Behring, GRIFOLS, S.A., Kedrion, Octapharma USA, Inc., Shire Plc. and China Biologics. CSL Behring is the market leader in the plasma protein therapeutics market, while GRIFOLS, S.A leads the global market for IVIG and Alpha 1 antitripsin.
The global plasma protein therapeutics market has been segmented as follows:
Global Plasma Protein Therapeutics Market, by Product Type:
- Coagulation Factors
- C1 esterase Inhibitors
- Others (Alpha-1 proteinase inhibitors, hyper immune globulins)
Global Plasma Protein Therapeutics Market, By Application
- Primary Immunodeficiency Disorder
- Idiopathic Thrombocytopenic Purpura
- Secondary Immunodeficiency (CLL, multiple myeloma, congenital aids, etc.)
- Hereditary Angioedema
- Others (Kawasaki Disease, GBS, CIDP, etc.)
Global Plasma Protein Therapeutics Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of the World (RoW)