Market Overview
Blood plasma product is the extracted portion from the blood using fractionation process to deliver products rich in plasma proteins. These products are used as body fluids, antibodies and clotting factors in medical industries that aid in treatment of chronic ailments like auto-immune disorders and haemophilia. The global blood plasma product market is expected to witness a significant growth during the forecast period due to the high demand by a large pool of patients with no alternative therapeutic approach. Blood plasma product have a wide range of components that have clinical use such as, Albumin, Factor VIII, Factor IX, immunoglobulin, fibrinogen with their major applications in bleeding disorders (haemophilia, immunological disorders), massive hemorrhage and in traumatic injuries. Moreover, the presence of biomarkers in plasma adds to their application in clinical diagnosis of diseases. These factors will drive the growth of global blood plasma product market in future.
The global blood plasma product market is categorized on the basis of product, application and end user. Based on product, the market is segmented into albumin, coagulation factor concentrates, immunoglobulin, protease inhibitors, and others. Immunoglobulin, which includes intravenous immunoglobulin, subcutaneous immunoglobulin and others held the largest share in the global blood plasma product market in 2016. It has major contribution towards the growth of the market as compared to other segments. The major factor driving this growth are rise in prevalence of neurological and immunology diseases, rising off-label use of intravenous immunoglobulin(IVIg) and increasing practice of subcutaneous immunoglobulin(SCIg) because of its ease of application.
Segmentation on the basis of application includes neurology, immunology, hematology, pulmonology, hemato-oncology, rheumatology, critical care and others. Globally, the demand for plasma product was largest in hospitals and clinics due to the large patient population. Other key end users in the global blood plasma product market are clinical research laboratories, and academic institutes.
Market Dynamics
Growth Drivers
According to a report by World Federation of Haemophilia, there are 304,362 people suffering from bleeding disorders such as, haemophilia, von Willebrand disease and others. The statistics depict 5.6% increase in prevalence of diseases from 2014-2015. The present therapeutics involve a continuous supply of plasma product as supplement. This increase in prevalence of bleeding disorders will drive a positive impact on the growth of the market during the forecast period 2017-2023. Moreover, government and private organization support blood donation programs to meet the rising demand of plasma, which will further drive the market growth. The growth of geriatric population results in the increase in prevalence of age related diseases such as, kidney disorder that requires blood plasma product as a therapeutic. These factors will drive the growth of the global blood plasma product market.
Restraints
Stringent regulatory standards on the import and export of plasma product hinder the growth of the global blood plasma product market. Other restraining factors includes the high complexity and cost associated with the collection of blood plasma, and dearth of trained and skilled professionals for fractionation process.
Opportunities and Trends
The identification of new proteins in blood plasma to be used as therapeutic products are under clinical investigation. This will provide opportunity to companies to maximize the volume of blood plasma fractionation. Further, exploring novel therapeutic application of the known blood plasma product to be used for other diseases will also provide ample opportunities to the market players to invest and expand in the global market.
One of the latest trends observed in the global blood plasma product market is that the leading players in the market are focusing on the development and manufacturing of recombinant factors. CSL Ltd. developed rVIII single chain molecule and rIX fusion protein to enhance molecular stability and extend half-life, respectively.
Insights by Geography
Geographically, North America held the largest share in the global blood plasma product market in 2016, followed by Europe. North America was the prominent market for the blood plasma collection, fractionation and product formation. Asia Pacific global blood plasma product market is expected to witness the fastest growth during the forecast period (2017-2023). The growing geriatric population and the increase in prevalence of blood disorder diseases are the factors responsible for the growth.
Competitive Landscape
The key players across the globe, are acquiring companies and units to enhance their portfolio and spreading geographically to gain large shares in the global blood plasma product market.
In June 2017, CSL Ltd., announced its first acquisition in Chinese market by acquiring Wuhan Zhong Yuan Rui De Biological Products Co. Ltd., a subsidiary of Humanwell Healthcare Co. Ltd. This will expand CSL Ltd. plasma collection and product portfolio in Asia Pacific’s blood plasma product market.
In August 2016, Creat Group Corporation acquired Bio Products Laboratory Ltd., a plasma biotherapeutics company, to expand in the global blood plasma product market.
In December 2016, Grifols S.A. acquired Hologic Inc., that will strengthen its global position by incorporating Nucleic acid testing (NAT) technology to enable transfusion safety in blood and plasma donations.
The other key players in the global market are Shire Pls., Octapharma AG, Kedrion S.p.A, Biotest AG, China Biologic Products, Inc., Sanquin and LFB S.A.
