Plasma Fractionation Market Expected to Reach $23 Billion by 2027

According to a new report published by Allied Market Research, titled, “Plasma Fractionation Market by Product and Sector:  Opportunity Analysis and Industry Forecast, 2020–2027," the global plasma fractionation market size was valued at $18 billion in 2019, and is expected to reach $23 billion by 2027, registering a CAGR of 6.2% from 2020 to 2027.

Plasma fractionation is a separation technique, which is employed to obtain plasma derivatives. There are different types of plasma derivatives available in the market. These include albumin and immunoglobulins. These products contain concentrated fractions of plasma protein, which is obtained by fractionation of plasma collected from a large number of donors. Furthermore, plasma derivatives are employed in different medical aspects such as hematology, neurology, and critical care. For instance, immunoglobulins are used in neurology to help patients suffering from multiple sclerosis and neuropathic pain. Furthermore, these products are extensively used in research laboratories and hospitals, owing to surge in awareness related to their use in various medical fields.

Surge in geriatric population across the globe, which is predisposed to various rare diseases that require use of plasma derivatives is the major factor that propels the market growth. Moreover, rise in use of immunoglobulins and alpha-1-antitrypsin in areas of medicine worldwide also fuels growth of the plasma fractionation market. Furthermore, surge in plasma collection centers worldwide is another major factor that contributes toward the growth of the market. In addition, favorable government support to spread awareness related to use of plasma derived products boost the growth of the plasma fractionation market. 

However, high cost of plasma derived products restricts the growth of the market. Conversely, growth potential in emerging economies is expected to create lucrative opportunities for the market during the forecast period.

COVID-19 pandemic has affected every industry worldwide. For instance, after COVID-19 was declared as a pandemic by the WHO, countries worldwide adopted nationwide lockdowns to observe social distancing as a measure to contain the spread. This lead to disruption, limitation, challenges, and changes in each sector of every industry. Similarly, the plasma fractionation industry was also impacted by the pandemic. For instance, the outbreak of COVID-19 pandemic has led to a decrease in number of blood donations and plasma collections, which hampers the plasma fractionation market as it leads to shortage of in raw material supply. However, this decrease in raw material supply was compensated by the fall in demand for plasma derivatives in the starting of nationwide lockdowns, as the elective surgical procedures were postponed and availability of treatment for other medical conditions was also hampered. In addition, the overall plasma supply in countries is maintained, however, some areas may face shortages. Thus, the viral outbreak had a negative impact on the plasma fractionation market.

The global plasma fractionation market is segmented on the basis of product, sector, and country. On the basis of product, the market is divided into albumin, immunoglobulins, coagulation factor VIII and coagulation factor IX. On the basis of sector, the market is divided into private sector and public sector. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

In terms of value, by product, immunoglobulin is the largest segment in the plasma fractionation market and is also expected to exhibit the fastest growth rate during the forecast period. The growth of this segment is attributable to the diversified use of immunoglobulin in various disorders such as primary and secondary immune deficiencies, autoimmune diseases, and inflammatory diseases. Furthermore, surge in research related to immunology across the globe is another factor that contributes toward the growth of the immunoglobulin market. In terms of value, by sector, private sector acquired the largest share of plasma fractionation market during the forecast period. This is attributable to the fact that there are a large number of private players operating in the plasma fractionation industry which collect and fractionate large amount of plasma into derivatives such as albumin, immunoglobulin and others. Thus, this contributes toward the growth of the market.

On the basis of region, North America acquired a major share owing to easy availability of plasma fractionation products, surge in number of plasma collection centers, and presence of major key players that offer plasma fractionation products. Asia-Pacific is expected to grow at the fastest rate during the forecast period due to surge in awareness related to use of plasma fractionation products and rise in disposable income.

Key Findings Of The Study 

• In terms of value, by product, the immunoglobulin segment accounted for more than half share in the plasma fractionation market in 2019.
• In terms of value, by region, the Asia-Pacific is anticipated to grow with the highest CAGR of 6.6% throughout the forecast period.
• Asia-Pacific accounted for more than half share in the global plasma fractionation market in terms of volume for albumin & immunoglobulin in 2019. 
• Europe accounted for more than one fourth share of the global plasma fractionation market in terms of volume for coagulation factor VIII & coagulation factor IX, in 2019.