Plasma Protein Products Market Size, Trends, and Forecasts
The plasma protein products market was valued at US$ 32.8 billion in 2023 and is expected to grow to US$ 72.9 billion by 2034, representing a compound annual growth rate (CAGR) of 7.53% from 2024 to 2034. This growth is driven by the increasing incidence of hematological and autoimmune disorders, a rise in research and development activities, and heightened awareness about plasma donation.
Download statistics of this report @ https://www.towardshealthcare.com/download-statistics/5305
Overview of Plasma Protein Products Market
Plasma, which constitutes about 55% of blood, is a vital component from which plasma protein products are derived. These products are obtained through a process called fractionation, which transforms large volumes of plasma into smaller quantities of finished products. Common examples include albumin, coagulation factors, fibrinolytic proteins, and immunoglobulin.
The rising prevalence of hematological and immunological disorders is fueling the demand for plasma protein products, which are crucial in treating conditions such as bleeding disorders, life-threatening trauma, and coagulation deficiencies. Additionally, increasing awareness of blood donations and advancements in fractionation techniques further enhance market growth.
Market Trends
- In May 2023, PlasmaGen Biosciences announced the opening of a new manufacturing facility for blood plasma-derived protein therapeutics in Kolar, Bengaluru. This 8-acre plant is capable of processing 500,000 liters of plasma annually and will produce various plasma products, including albumin and immunoglobulin.
- In September 2022, LFB Plasma joined the Plasma Protein Therapeutics Association (PPTA) to expand its plasma collection centers in the United States.
- In September 2022, Canadian Blood Services (CBS) partnered with Grifols to enhance Canada’s national plasma supply, with Grifols assisting CBS in meeting its plasma collection targets for immunoglobulin production.
Opportunities in Recombinant Technology
Recombinant technology presents an opportunity for the plasma protein products market by providing an alternative to conventional fractionation techniques. This method involves inserting genetically modified protein genes into host organisms to produce complex plasma proteins in laboratories. Advances in alternative cell lines, improved cell culture methods, and new expression technologies, such as transgenic animals, facilitate the development of innovative recombinant techniques. Furthermore, growing research and development activities and increased investments in biotechnology R&D are propelling the market forward.
Challenges Facing the Market
Despite its growth potential, the plasma protein products market faces significant challenges, primarily the shortage of plasma supply for production. The demand for plasma protein products is rising sharply, yet there is a global shortfall in plasma availability from blood donors. This imbalance creates a difficult demand-to-supply ratio, compounded by issues related to supply chain management, which also restrain market growth.
Discover our detailed Table of Contents (TOC) for the Industry, providing a thorough examination of market segments, material, emerging technologies and key trends. Our TOC offers a structured analysis of market dynamics, emerging innovations, and regional dynamics to guide your strategic decisions in this rapidly evolving healthcare field – https://www.towardshealthcare.com/table-of-content/plasma-protein-products-market-sizing
To own our research study instantly, Click here @ https://www.towardshealthcare.com/price/5305
You can place an order or ask any questions, please feel free to contact us at sales@towardshealthcare.com
About Us
Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
Explore the comprehensive statistics and insights on healthcare industry data and its associated segmentation: Get a Subscription
For Latest Update Follow Us: https://www.linkedin.com/company/towards-healthcare