Global Blood Plasma Products Market to Be Worth Usd 28.5 Bn By 2023
According to a new Research on Global Markets report, the global blood plasma products market is expected to be worth approximately USD 28.5 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 6.8% during 2018-2023. The increasing demand of immunoglobulin for the treatment of immunodeficiency is expected to drive the market growth during the forecasted period.
The market research report highlights that the evolution of technology deployed at plasma collection centers to collect plasma and record patient history, and use of dried plasma that reduce cold chain requirements are the major trends in the market that may support the market growth.
According to the report, the global blood plasma products market is segmented based on product type and end-users. Based on product types, immunoglobulin held the highest market share (approximately 47%) because of the growing incidence of immunological diseases coupled with the rise in the geriatric population. The market share of albumin was 15.6% in 2018, which is driven by the rise in adoption of albumin in developing countries and an increase in awareness of recombinant albumin.
In terms of end-users, the hospital segment dominated the market with a share of 82% in 2018. This is due to the increase in the number of hospitals in developing countries and the rise in awareness of diseases like hemophilia. The segment is followed by clinics with a market share of 14.1% in 2018, according to Research On Global Markets.
Research On Global Markets tracks the performance of the global radiation dose monitoring market across the key geographies of North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America is leading the blood plasma products market and occupied approximately 44.2% of the market in 2018, driven by the rising incidence of haemophilia, and rapid approval by the FDA for the plasma products. The blood plasma products market in Europe is likely to expand over the forecast period of 2018-2023, by exhibiting a CAGR of 6.6%. Europe is followed by the Asia pacific with a market share of 19.3% in 2018.
Key highlights of this report:
- Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and key market observations
- Qualitative analysis of the drivers and challenges affecting the global market
- Major trends in the global blood plasma products market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Market segmentation based on product type (immunoglobulin, albumin, hyperimmune globulin, coagulation factor VIII, coagulation factor IX, and other) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
- Market segmentation based on the end-user (hospitals, clinics, and other) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
- Market segmentation based on region (North America, Europe, Asia-Pacific, Latin America and The Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for blood plasma products across the world to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.
Check out the Research on Global Markets report featured in this article: