Blood, Sweat, and Plasma: Funding, Development, and Government Initiatives Drives Growth in Therapy Market
SkyQuest’s Plasma Therapy market report is excellent information for individuals interested in gaining insight into the valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is written clearly and concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.
Westford, USA,, April 06, 2023 (GLOBE NEWSWIRE) — The forecast period (2022-2030) is expected to witness the Plasma Therapy market reaching a value of USD 824.51 million at a CAGR of 15.18%, and growth is fueled by increasing viral diseases like COVID-19, safety equipment initiatives and funding, raising awareness and research, and collaboration and partnerships. SkyQuest reports an increase in the use of convalescent plasma therapy as a treatment for COVID-19, with the United States alone administering over 600,000 doses.
According to SkyQuest’s latest research findings, Plasma therapy has demonstrated effectiveness in treating certain autoimmune diseases, such as idiopathic thrombocytopenic purpura (ITP), with a success rate of up to 80% in some cases. Additionally, the report highlights that the global demand for plasma-derived therapies is expected to exceed 600 metric tons by 2025, up from 270 metric tons in 2018, driven by an aging population and increased prevalence of chronic diseases.
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Browse in-depth TOC on “Plasma Therapy Market”
- Pages – 242
- Tables – 122
- Figures – 81
In contemporary times, Plasma therapy has emerged as an integral treatment approach in the healthcare industry, particularly for COVID-19. Recovered patients’ plasma is used to treat those still infected, and the results have been promising in treating critically ill patients. Consequently, the demand for plasma therapy has increased globally. Furthermore, researchers are exploring the potential of plasma therapy for treating other diseases, such as cancer and autoimmune disorders.
Prominent Players in Plasma Therapy Market
- Takeda Pharmaceutical Company Limited
- CSL Limited
- Grifols S.A.
- Octapharma AG
- Kedrion S.p.A.
- Bio Products Laboratory
- Biotest AG
- China Biologic Products Holdings, Inc.
- Emergent BioSolutions Inc.
- GC Pharma
- Sanquin Plasma Products B.V.
- Shanghai RAAS Blood Products Co., Ltd.
- ADMA Biologics, Inc.
- LFB S.A.
- Bharat Serums and Vaccines Limited
- BPL Plasma, Inc.
- Cambryn Biologics LLC
- Shanghai Xinxing Medical Science & Technology Co., Ltd.
- Abeona Therapeutics Inc.
- Beijing Tiantan Biological Products Co., Ltd
Infectious Disease Segment to Drive Higher Sales Due to the Increasing Prevalence of Infectious Diseases, such as COVID-19
According to a recent analysis, the Infectious Disease segment emerged as a significant contributor to the rapid development of the Plasma Therapy market in 2021. This trend is expected to continue from 2022 to 2030 due to the increasing prevalence of infectious diseases, such as COVID-19, and the growing prevalence of autoimmune disorders, such as multiple sclerosis and rheumatoid arthritis. Recently, Researchers in China have successfully used plasma therapy to treat a patient with severe idiopathic thrombocytopenic purpura (ITP). This rare autoimmune disorder causes low platelet counts and can lead to bleeding and bruising.
Research analysis indicates North America is poised to become a dominant Plasma Therapy market player from 2022 to 2030. SkyQuest has projected that the region will grow at a CAGR of 9.82% during the forecast period. The increasing prevalence of chronic diseases, favorable reimbursement policies, and rising investment in research and development activities drive this expansion in the region. Recently, the National Institutes of Health (NIH) in the US announced a new clinical trial to evaluate the safety and efficacy of convalescent plasma in treating individuals with mild to moderate COVID-19. The trial is expected to enroll up to 1,000 participants at multiple sites nationwide.
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Platelet-Rich Plasma Segment to Exhibit Strong Growth Due to its Effectiveness in Promoting Tissue Regeneration and Wound Healing
From 2022 to 2030, the Platelet-Rich Plasma Component segment is projected to remain the leading method in the Plasma Therapy market, according to a recent analysis. PRP has already established dominance in 2021 due to its effectiveness in promoting tissue regeneration and wound healing, making treatment safer and more efficient. Its application in various medical fields, including orthopedics, dentistry, and dermatology, has contributed to its widespread use. Moreover, a recent study published in the Journal of Clinical Medicine demonstrated that PRP therapy effectively reduces hair loss in patients with androgenetic alopecia. The study showed a statistically significant increase in hair density among patients who received PRP treatment compared to those who did not.
The Asia Pacific region has also emerged as a significant Plasma Therapy market force and is poised to retain its leading position by 2030. SkyQuest has forecasted significant growth in the Plasma Therapy market for the Asia Pacific region, with a projected CAGR of 10.97% during the forecast period. This expansion can be attributed to the increasing prevalence of chronic diseases and the growing geriatric population in the region.
A comprehensive analysis of the major players in the Plasma Therapy market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in Plasma Therapy Market
- Takeda, the Japanese pharma company, is increasing its manufacturing capabilities in the plasma-derived therapy department with a new production facility and warehouse at its Lessines site in Belgium. The investment of nearly 300 million euros ($300 million) comes as the company is experiencing fast growth after a temporary slowdown due to the pandemic. The announcement was made during a celebration marking the site’s 50th anniversary.
- Grifols, a global leader in plasma-derived medicines, announced the completion of its acquisition of Tiancheng (Germany) Pharmaceutical Holdings AG, which holds a significant stake in Biotest AG, a European healthcare company specializing in hematology and clinical immunology. Grifols now controls 96.20% of the voting rights and holds 69.72% of the share capital of Biotest AG following the Public Takeover Offer and the acquisition of Tiancheng (Germany) Pharmaceutical Holdings AG.
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Key Questions Answered in Plasma Therapy Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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