Global Plasma Therapy Market: Introduction
- Blood is made up of red blood cells (RBCs), white blood cells (WBCs), platelets, and plasma. Plasma constitutes 55% of the total blood volume. Apart from RBCs, WBCs, and platelets, plasma carries hormones, proteins, and nutrients to different parts of body.
- When pathogens attack a human body, the immune system starts releasing proteins to fight the infection. These proteins are called antibodies. Once the infected person releases enough amount of antibodies to fight the pathogen, he or she can recover from diseases without taking medication.
- In plasma therapy, the immunity of a healthy recovered person can be transferred to the patient with the help of plasma, as it contains high concentration of antibodies
- Plasma therapy has been used for a long time, primarily in dentistry, orthopedics, and dermatology. Plasma treatment is generally utilized in wound healing, facial restoration, and androgenetic alopecia.
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Key Drivers and Restraint of Global Plasma Therapy Market
- According to the World Health Organization Association (WHO), globally, 9.6% of men and 18% of women aged over 60 have symptomatic osteoarthritis. Of these, 80% have limitations in movement and 25% cannot perform day-to-day activities. Increase in incidence rate of orthopedic disorders is projected to drive the global plasma therapy market.
- Technological advancements and utilization of plasma therapy in various life threatening diseases is anticipated to boost the growth of the global plasma therapy market in the next few years
- According to the World Health Organization (WHO), population aged 60 years and above will increase from 605 million in 2000 to 2 billion in 2050. The geriatric population suffers from various diseases and is more prone to infectious diseases due to weak immunity. This is expected to increase the demand for plasma therapy, which in turn is likely to boost market growth.
- According to the National Center for Biotechnology Information (NCBI), in the U.S., around 86,000 athletes are treated using plasma therapy every year. This increase in usage of plasma therapy is projected to augment the global market in the next few years.
- However, high cost of plasma therapy is anticipated to restrain the global plasma therapy market
- Plasma therapy is quite efficacious in a number of applications. However, it is not effective in all procedures. More research & trials and different approaches are required for addressing different conditions.
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North America to Lead Global Plasma Therapy Market
- In terms of region, the global plasma therapy market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America accounted for the largest share of the global plasma therapy market in 2019 and the trend is projected to continue in the next few years. Growth of the market in the region is ascribed to expanding government support for research & development in the field of plasma treatment and increase in awareness among blood donors.
- The plasma therapy market in Asia Pacific is anticipated to grow at the fastest pace during the forecast period because of rise in health awareness among practitioners as well as the population, and increase in medical tourism
- Latin America and Middle East & Africa are likely to be steady markets for plasma therapy during the forecast period due to lack of awareness and initiatives taken by governments
Key Players Operating in Global Plasma Therapy Market
- Takeda Pharmaceutical Company Limited
- Bio Products Laboratory Ltd.
- Arthrex, Inc.
- Biotest AG
- China Biologic Products Holdings, Inc.
- DePuy Synthes Companies
- CSL Limited
- Grifols, S.A.
- Regen Lab USA LLC
- LFB S.A.
- Terumo BCT, Inc.
Global Plasma Therapy Market: Research Scope
Global Plasma Therapy Market, by Type
- Pure PRP
- Leucocyte-rich PRP
- Pure Platelet-rich Fibrin (PRF)
- Leukocyte-rich Fibrin (L-PRF)
Global Plasma Therapy Market, by Source
Global Plasma Therapy Market, by Application
- Nerve Injury
- Cardiac Muscle Injury
- Other Applications
Global Plasma Therapy Market, by End-user
- Hospitals & Clinics
- Research Institutes
Global Plasma Therapy Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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