Market Trends of Plasma Fractionation Industry
This section covers the major market trends shaping the Plasma Fractionation Market according to our research experts:
Immunoglobulin Shows Lucrative Growth Opportunity in the Plasma Fractionation Market Over The Forecast Period
Immunoglobulin is being used in various disorders, including primary and secondary immune deficiencies, autoimmune diseases, and inflammatory diseases, which is driving the growth of this segment. According to the study published in the Therapeutics advances in Chronic Diseases in May 2022, intravenous immunoglobulin (IVIG) was reported to be one of the top three most used monotherapy in livedoid vasculopathy (LV). It is a safe and effective treatment for rare diseases.
Additionally, the growing prevalence of rare and autoimmune diseases and a surge in immunology research worldwide are factors driving the segment's growth. For instance, according to the data published by National Center for Advancing Translational Sciences in February 2022, it is estimated that about 7,000 to 10,000 rare diseases affect humans, out of which only a few hundred have any treatment. It also reported that each rare disease affects fewer than 200,000 individuals in the US. However, these illnesses affect an estimated 30 million people in total nationwide. Thus, the increasing number of rare diseases is driving the segment's growth.
According to a research study published by Springer in January 2022, Acquired hemophilia A (AHA) is a severe acquired rare bleeding disorder with which only 1-1.5 per million persons are affected yearly. AHA is characterized by suddenly appearing autoantibodies (inhibitors) that partially or wholly neutralize the activation or function or accelerate the clearance of factor VIII. People typically observe this disease in old age. Thus, increasing autoimmune disease prevalence is anticipated to increase the demand for immunoglobulin-based treatment, thereby growing the plasma fractionation market.
The market players are involved in developing innovative drugs and discovering new therapeutic areas for the existing drugs. For instance, in March 2022, Sanofi and IGM Biosciences, Inc. collaborated to create, develop, manufacture, and commercialize immunoglobulin antibody agonists against three oncology and immunology/inflammation targets. Thus, the rising research and development activity on immunoglobulins is boosting segment growth.
Thus, factors such as the growing prevalence of rare and autoimmune diseases and a surge in immunology research worldwide are anticipated to boost the segment over the forecast period.
North America is Expected to Hold a Significant Share in the Plasma Fractionation Market Over the Forecast Period
The North American region is expected to hold a significant share of the plasma fractionation market due to the presence of major players in the country, increasing research and development activities regarding plasma fractionation, rising geriatric population.
The rising prevalence of various genetic diseases, the growing geriatric population, and increasing healthcare expenditure are significant factors for the growth in the region. For instance, according to the March 2021 report of the Alzheimer's Association, approximately 6.2 million people of age 65 years and more are living with Alzheimer's-related dementia in the US. It is projected that this number will increase to 13.8 people by 2060. Thus, the high prevalence of Alzheimer's disease and the effectiveness of the plasma fractionation product in the treatment bolster the market growth over the forecast period.
Furthermore, according to the data from CDC in August 2022, the current male with hemophilia living in the US is estimated to be between 30,000 and 33,000. The estimated prevalence for hemophilia A in the US is 12 cases per 100,000 males and 3.7 cases per 100,000 US males for hemophilia B. The estimated incidence of hemophilia A among US births is one birth per 5,617 male births and one birth per 19,283 male births for hemophilia B. Thus, the high hemophilia incidence and higher plasma fractionation therapy adoption to treat hemophilia is expected to raise its demand over the forecast period, thereby boosting the market growth.
Additionally, the increasing plasma collection centers in the region, and growing developments for more plasma supply are also expected to enhance the market growth. For instance, in September 2022, Canadian Blood Services (CBS) partnered with Grifols SA to boost Canada's national blood plasma supply.
Moreover, rising initiatives from key market players are also expected to drive market growth in this region. For instance, in March 2021, BPL sold Grifols 25 plasma centers in the US, ensuring one million additional liters for plasma fractionation. Thus, such initiatives by the key market players are anticipated to drive the market's growth over the forecast period.
Therefore, owing to factors such as the rising prevalence of various genetic diseases, the growing geriatric population, increasing healthcare expenditure, and rising initiatives from key market players, the growth of the studied market is anticipated in the North American region.
