Published: Nov, 2016
Accounting for a share little short of 30% in the global plasma protein therapeutics market, CSL Behring emerged as the dominant player in 2015, states Transparency Market Research (TMR) in a new study. The company offers myriad products with diverse applications in immunology, coagulation, critical care, and wound healing. In addition, CSL Behring has a considerable global presence, which it capitalizes on to ensure sustainable growth.
Baxalta, Grifols, and CSL Behring together make the big three in the plasma protein therapeutics market. Despite their clear lead in the market, the big three and other prominent vendors such as Octapharma Inc., Kamada, and Biotest Pharmaceuticals are hesitant to compete on price. Hence the flagship IVIG products sell within a narrow price range in the market. These firms also have control over the supply of proteins derived from plasma, unlike the previous third-party collectors regulated by volume, which later pushed the market to lower prices. Octapharma, Baxalta, Grifols, and CSL Behring held approximately 82.6% of the global plasma protein therapeutics market, rendering its vendor landscape highly consolidated.
According to TMR, exhibiting a CAGR of 7.0% between 2016 and 2024, the global plasma protein therapeutics market is projected to reach US$31.8 bn by the end of 2024. The market’s valuation stood at US$18.5 bn in 2015. With a share of 40%, the immunology segment emerged as the dominant product segment in the market in 2015. Regionally, the North America led the global plasma protein therapeutics market in 2015 with a share of 40.7%.
Investment in R&D to Create Growth Opportunities
Quality and advancements have been the pillars of success, enabling the global plasma protein therapeutics market deliver increased quality of life and guarantee donor safety. This has subsequently accelerated investment in research and development, leading to innovation of treatment aimed at better patient care. These developments are evident from recent advancements in manufacturing processes, added virus elimination technologies, product presentations, and the development of new plasma proteins.
Increasing Clinical Indications of Immunoglobulin Hold Promise for Market’s Growth
The market also has been gaining from the increasing clinical indications of immunoglobulin. “The use of albumins in the treatment of immunodeficiency and conditions such as shock, burns, and blood loss has significantly risen. Besides this, they are also used as a drug formulation agent, which is fuelling the demand for plasma protein therapeutics considerably,” said a lead TMR analyst. Furthermore, innovation of solutions for efficient and safe plasma collection, development of novel indications, advent of new plasma-derived therapies, and increased access to advanced medications across emerging nations are the factors boosting the global plasma protein therapeutics market.
Stringent Regulations Could Limit Market’s Expansion
On the downside, the implementation of stringent regulations and issues relating to reimbursement policies are expected to limit the market’s growth. The complexities existing in biologics manufacturing could pose threat to the market as well. Nevertheless, the presence of a high degree of unmet medical needs and the increasing healthcare expenditure to eradicate the same will create immense opportunities for the market across emerging economies.
This study is based on review published by TMR in a report, titled “Plasma Protein Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
The report segments the global plasma protein therapeutics market into:
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)
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