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(IT-NEWSWIRE.COM, April 03, 2019 ) The plasma fractionation market is projected to reach USD 34.9 billion by 2024 from USD 25.4 billion in 2019, at a CAGR of 6.6% during the forecast period primarily due to the growing use of immunoglobulins in various therapeutic areas, increase in plasma collection (and the number of plasma collection centers), and the increasing use of alpha-1-antitrypsin. However, the high cost of plasma products, limited reimbursements, and the emergence of recombinant alternatives are expected to restrain the growth of this market during the forecast period.
The protease inhibitor segment is expected to grow at the highest CAGR in the plasma fractionation products market during the forecast period.
On the basis of product, the plasma fractionation market is segmented into immunoglobulin, albumin, coagulation factor, protease inhibitor and other plasma products. The protease inhibitor segment is expected to grow at the highest CAGR during the forecast period. Protease inhibitors mainly include alpha-1-proteinase inhibitors, antithrombin, and C-1 esterase inhibitors. The high growth of this segment is majorly due to the increased consumption of tobacco worldwide and the increasing aging population in developing countries, thereby increasing the global burden of COPD and the use of alpha 1-antitrypsin in treatment.
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The pulmonology application segment is expected to dominate the plasma fractionation market from 2019–2024.
On the basis of application, the plasma fractionation market is segmented into neurology, immunology, hematology, critical care, pulmonology, hemato-oncology, rheumatology, and other applications. Immunoglobulin and protease inhibitors are the major plasma products used in the treatment of various respiratory diseases. In recent years, the use of protease inhibitors, such as alpha-1 antitrypsin, has increased significantly, leading the pulmonology application segment to witness the fated growth during the forecast period.
APAC holds high growth potential in the plasma fractionation market.
The APAC is expected to grow at the highest CAGR during the forecast period. This can be attributed to the growth in the overall healthcare industry, improved economy, increasing number of hemophilic patients, increasing number of organ transplantations, increasing focus on diagnosis and prophylactic treatment, and increasing awareness about technologically advanced products in the region. Moreover, the improving standard of living in several APAC countries has resulted in the increased demand for plasma products.
Major players in the global plasma fractionation market include CSL (Australia), Grifols (Spain), Shire (Ireland), Octapharma (Switzerland), Kedrion (Italy), BPL (UK), Sanquin (Netherlands), LFB (France), Biotest (Germany), Japan Blood Products Organization, China Biologic Products (China), Green Cross Corporation (South Korea), and Shanghai RAAS Blood Products (China). Geographic expansions and collaborations are the key strategies undertaken by these companies to maintain their positions in the market.
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