COVID-19 impact on the plasma fractionation market
COVID-19 is an infectious disease caused by the recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 has moved from a regional crisis to a global pandemic. The World Health Organization (WHO) officially declared the outbreak of COVID-19 a pandemic in March 2020. A number of established pharmaceutical and biopharmaceutical companies, as well as small startups, have stepped forward to develop treatments that target the infection caused by the novel coronavirus. Although, no specific drugs have been approved yet for its treatment, based on the positive findings of a number of clinical trials, convalescent plasma (CP) therapy is expected to increase the survival rate of COVID-19 patients. Hence, federal agencies of various countries such as the US and India are taking initiatives to offer this therapy to patients as quickly as possible, while at the same time conducting clinical trials to find out the safety and effectiveness of the therapy.
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OPPORTUNITY: Rising prevalence of bleeding disorders
Hemophilia or hematology disorders form one of the major application areas of plasma fractionation products. Hemophilia is a hereditary bleeding disorder characterized by impaired blood coagulation due to deficiencies in the production or function of coagulation factor VIII. According to the World Federation of Hemophilia, the number of hemophilia patients worldwide was 167,110 in 2011, which increased by 25.9% to 210,454 in 2018. Only 30% of patients are actually diagnosed with hemophilia, and 25% of them receive treatment. The rest of the people with hemophilia remain undiagnosed, and nearly 75% of patients receive inadequate treatment or no treatment at all.
Plasma Fractionation Market Overview:
The Plasma Fractionation Market size is projected to reach USD 39.5 billion by 2025 from USD 28.6 billion in 2020, at a CAGR of 6.7% during the forecast period. Market growth is driven mainly by factors such as growing use of immunoglobulins in various therapeutic areas, increase in plasma collection (and the number of plasma collection centers), rising geriatric population and the growing prevalence of respiratory diseases and alpha-1-antitrypsin deficiency (AATD). However, the high cost of plasma products, limited reimbursements, and the emergence of recombinant alternatives are expected to restrain the growth of this market to a certain extent during the forecast period.
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Segmentation:
The pulmonology segment is expected to grow at the highest CAGR during the forecast period
Based on application, the plasma fractionation market is segmented into neurology, immunology, hematology, critical care, pulmonology, hemato-oncology, rheumatology, and other applications. In 2019, the pulmonology segment is expected to register the highest CAGR during the forecast period. Growth in this market segment is driven largely by the rising prevalence of alpha-1 antitrypsin deficiency and chronic obstructive pulmonary disease (copd).
North America was the largest regional market for plasma fractionation market in 2019
The global plasma fractionation market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America accounted for the largest share of the plasma fractionation market, followed by Europe and the Asia Pacific. The large share of North America in the global market is attributed to the growing use of immunoglobulins in various therapeutic areas, growing geriatric population, and the increasing prevalence of respiratory diseases and AATD. However, the market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. This can be attributed to the growth in the overall healthcare industry, increasing number of hemophilic patients, increasing number of organ transplantations, increasing focus on diagnosis and prophylactic treatment, increasing awareness about technologically advanced products, and improving the standard of living in several APAC countries.
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Key Players:
Key players in the global plasma fractionation market include CSL (Australia), Grifols (Spain), Shire (Ireland), Octapharma (Switzerland), Kedrion (Italy), and BPL (UK), Sanquin (Netherlands),
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