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Blood Plasma Market: Global Trends You Need To Know

Blood-Plasma

Function of Blood Plasma

Plasma, the largest component of blood, accounts for 55% of total blood composition. It consists of several components—water, electrolytes, albumin and immunoglobulins, among others.

Blood plasma is used to treat patients with immunoglobulin deficiency. Exploring the potential of blood plasma in the large-scale treatment of immuno-compromised patients has become essential with the emerging incidences of both primary and secondary immunodeficiencies.

An increase in the cases of bleeding disorders such as hemophilia A, hemophilia B and von Willebrand disease has resulted in a better understanding of blood plasma and its potential in the treatment of these diseases.

That’s why studying blood plasma products is so crucial—to deepen the understanding of blood plasma and the potential of using blood plasma therapies in chronic disease management.

Blood Plasma Market Trends

Immunodeficiency, the major factor responsible for severe infections in immuno-compromised patients, is a significant concern throughout the world and is expected to drive growth in the global blood plasma products market.

New product launches, improvements in existing technologies and increased R&D activity are increasing demand for blood plasma products in the global market.

Factors that may restrain the market’s growth include the high cost of therapies and the threat of blood-borne disease transmission. Ensuring safety and efficacy during blood donations and transfusions will aid in overcoming these threats.

Blood Plasma Market Projections

  • The global blood plasma products market generated of $24.1 billion in 2017 and is expected to reach nearly $35.5 billion by 2023, growing 6.6% annually.
  • By application, neurology has dominated the global blood plasma products market, a trend that is expected to continue through 2023. Neurology generated nearly $9.2 billion in 2017 and is anticipated to reach nearly $13.5 billion by 2023, growing at a CAGR of 6.5% over the forecast period.
  • The use of blood plasma products in pulmonary applications—for example, to treat pulmonary hemorrhages—has increased in recent years and is expected to grow at 7.3% annually.
  • By end users, hospitals and clinics dominate the market, accounting for $20.8 billion in 2017. Hospitals and clinics are expected to generate $30.2 billion by 2023, growing 6.4% annually.
  • Key market players in the blood plasma products market CSL Limited, Kedrion, Grifols, Biotest and Shire.

For additional intel into the global blood plasma products market, download a free overview of our report, Global Markets for Blood Plasma Products.

DOWNLOAD FREE REPORT OVERVIEW

Written by Sarah Greenberg on May 27, 2020 10:00:00 AM

Sarah Greenberg is the Manager of Content Marketing at BCC Research. She creates our blog, social media and email content.

Topics: Life Sciences, Healthcare