Plasma Fractionation Market Shows Expected Growth from 2017-2022
Plasma fractionation is a process of separating various components of plasma, which in turn is a component of blood obtained through blood fractionation. Plasma is separated and can be used for many different medical applications. Plasma is taken from donors when whole blood is donated, or by plasmapheresis – a process by which the liquid part of the blood, or plasma, is separated from the blood cells and plasma is retained. This plasma can be used as Fresh Frozen Plasma (FFP) for replacement of clotting factors. Most plasma is used for products which derived from plasma fractionation. Plasma comprehends thousands of diverse proteins, but only about 20 of these are used to produce therapeutic plasma products. These fit into three classes’ immunoglobulins, clotting factors, and albumin.
Growth of this market is mainly attributed to increasing incidence of bleeding and immune disorders, growing geriatric population, and growing use of immunoglobulin and alpha-1-antitrypsin. Plasma fractionation is used for treating protein deficiency in healthcare applications and also as a packaging material for industrial applications. The prime function of plasma fractionation is removal or inactivation of viruses and prions.
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According to Centers of Disease Control (CDC) statistic, in 2012 chronic diseases were one of the major causes of death and disability in the U.S., with an estimated 117 million people suffering from some form of chronic disease. Developed diagnostic facilities, and comfort of access to healthcare along with increasing incidence and prevalence of chronic diseases all over the world, are some factors responsible for the rising demand for plasma derived products and is expected to drive the plasma fractionation market during the forecast period. The increase in geriatric population all over world is an important factor for plasma fractionation market, mainly due to the risk of complications of hemophilia, such as intracranial hemorrhage, inhibitor development, and joint diseases, increases along with the age of a person.
According to Centers for Disease Control and Prevention (CDC), in the U.S. about 400 newborns suffer from hemophilia every year. Hemophilia is the most well-known inherited bleeding disorder, although it is comparatively rare. Rising costs of plasma derivatives, the risk factors related it and limited reimbursement policies can hinder the growth of this market. Increase usage of recombinant proteins and products acting as a substitute for the plasma products are expected to restrain the global plasma fractionation market during the forecast period.
North America is leading the global plasma fractionation market, owing to growing per capita healthcare spending in the U.S. And also rising demands from patients for better and advanced healthcare facilities, and increased acceptance of new and advanced technologies. Asia Pacific region is also witnessing highest CAGR in the forecast period, due to factors such as increasing prevalence of hemophilia among developing countries such as China, and India, and increasing aging population in the Asia Pacific region.
Key players operating in the global plasma fractionation market are CSL Ltd., Octapharma AG, Grifols S.A, Baxalta Incorporated, Octapharma AG, and Kedrion S.p.A held the major share of the plasma fractionation market and will continue to take over the market. Other major players are Bio Products Laboratory, Sanquin, China Biologic Products, Inc., Biotest AG, and Laboratoire Français du Fractionnement et des Biotechnologies.
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