Plasma Fractionation Market Size to Reach USD 40,731.98 million by 2028
Product Segment to Contribute Largest Share to Plasma Fractionation Market Revenue during 2021–2028
NEW YORK, UNITED STATES, November 18, 2022 /EINPresswire.com/ -- The process of separating various components of blood plasma is known as plasma fractionation. The separated components are used to create a variety of therapeutic plasma products that can be used to treat a variety of medical conditions. Immunoglobulin, coagulation factors, albumins, and inhibitors are just a few of the plasma products commonly used.
Plasma fractionation market was valued at US$ 26,575.83 million in 2021 and is projected to reach US$ 40,731.98 million by 2028; it is expected to grow at a CAGR of 6.3% during 2021–2028.
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The rising application of plasma therapy and active participation of companies in market developments are driving the growth of the plasma fractionation market. However, the availability of recombinant or non-plasma counterparts limits the market growth. Further, development potential in emerging countries offers lucrative opportunities for the growth of the global plasma fractionation market.
A few of the most notable companies occupying a considerable share of the market are players Bio Products Laboratory LTD, CSL Limited, Biotest AG, Sanquin, Bharat Serums and Vaccines Limited, Grifols S.A, Kedrion, SK Plasma, Plasmagen Biosciences PVT. LTD, Octapharma AG.
Market leaders are involved in partnerships, product launches, acquisitions, and other strategies to improve their performance and consolidate the market position. For instance, in April 2020 Grifols, a global manufacturer of plasma-derived medicines, launched a new 3-mL vial of HyperRAB, which is used to treat postexposure prophylaxis for rabies. The US Food and Drug Administration had already approved this vial in 2019.
Prominent players in the plasma fractionation market are focusing on organic strategies such as product launches, product approvals, and geographic and manufacturing expansions. These strategies help them strengthen their market positions, along with allowing them to broaden their geographic footprints. Additionally, various companies are undertaking acquisitions to garner their significance and remain competitive in the market.
A few of the vital developments in the plasma fractionation market are mentioned below:
In 2020, Bio Products laboratory launched ALBUMINEX 5% and ALBUMINEX 25% with supply immediately available in the US.
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