Global Blood Plasma Market Overview
Blood Plasma is a straw colored liquid component of blood which is the largest component of the blood. It acts as a transport medium for delivering different types of nutrients to the cells of different organs and is also responsible for transporting various types of waste products from the cells to the kidneys for excretion. It plays an important role in maintaining the blood pressure of the body and also helps to maintain homeostasis. Additionally, it transports several hormones and proteins to different parts of the body and helps in blood clotting along with fighting diseases.
The blood plasma from the blood is separated when a tube of fresh blood containing anticoagulant is centrifuged until all the blood cells settle at the bottom of the tube. The plasma component of the blood helps in the treatment of various types of health related disorders. The blood plasma contains about 6-8 percent of the proteins. When clotting of blood is activated, fibrinogen in the blood gets converted into fibrin which results to form a blood clot where vascular disruption has occurred. If the glucose concentration is high or low in the blood plasma, it confirms that some serious health related disorder has occurred (hypoglycemia and diabetes mellitus).
Market Size and Forecast
The global blood plasma market is observing vibrant growth on account of increasing cases of hemophilia coupled with the enhancement in the health related problems due to changing lifestyle. Further, rising healthcare expenditure and increase in immunodeficiency diseases are estimated to support the growth of the market. Additionally, rising government initiatives for plasma donation and increased awareness among people are driving the growth of the market. Factors such as rising investment in the research and development, growing healthcare sectors, growing rate of geriatric population and increasing adoption of plasma derived products are anticipated to escalate the market shares.
The blood plasma market is anticipated to record a CAGR of 10.2% over the forecast period i.e. 2019-2027. The market is segmented by components into coagulation factors, immunoglobulin, hyperimmune globulin, albumin, factor VIII, factor IX & others, out of which, the immunoglobulin segment is anticipated to have the largest market share on account of higher adoption of different kinds of therapies for treating diseases. The market is further segmented by applications into immunodeficiency diseases, hemophilia, hypogammaglobulinemia, Von Willebrand disease, oncology, transplant, hematology & others, out of which, immunodeficiency disease segment is estimated to hold dominant market share. Based on end-user, the market is sub-segmented into hospitals, clinics, research laboratories & others, out of which, the hospital segment is expected to hold the largest market share over the forecast period.CLICK TO DOWNLOAD FREE SAMPLE REPORT
Rising Prevalence of Hemophilia
People suffering from hemophilia A or hemophilia B often have insufficient blood clotting factors (blood clotting proteins). The blood plasma in the body contains several blood clotting factors or proteins which includes Factor VIII, Factor IX and many more. Patients suffering from hemophilia A suffer from the severe deficiency of Factor VIII whereas patients suffering from hemophilia B suffer from a severe deficiency of Factor IX. On account of the absence of blood clotting factors (Factor VIII and Factor IX) in the blood of hemophiliac patients, blood oozes out from small cuts and bruises. Hemophiliac patients need frequent plasma transfusion containing clotting factors. According to the US Centers for Disease Control and Prevention, hemophilia occurs in approximately 1 in 5,000 live births. About 20,000 people suffer from hemophilia disease in the United States. The hemophilia A is four times as common as hemophilia B. Patients suffering from hemophilia A have a more severe form of hemophilia. The increased prevalence of hemophilia across the globe is anticipated to augment the growth of the global blood plasma market.
Further, high investment in the field of research and developments is also expected to augment the growth of the market.
Rising Geriatric Population
The geriatric population across the globe generally suffer from anemia which leads to weakness and they often need plasma transfusion and blood transfusion for rejuvenation. Plasma contains several proteins and hormones that help in reducing weakness and boosting immunity as it has several antibodies. The elderly population often need blood plasma transfusion. According to the World Bank, the geriatric population was 8.482 percent of the total world population in the year 2016 which increased to 8.696 percent in the year 2017. This rise in the geriatric population is anticipated to augment the growth of the market over the forecast period.
Side Effects Associated With Blood Plasma Transfusion
There are certain side effects associated with the blood plasma transfusion which includes anaphylactic reactions, hemolytic transfusion reactions, transfusion associated circulatory overload, and transfusion related acute lung injury and many more. Leading to severe negative health implications, these side effects are anticipated to hamper the growth of the market over the forecast period.
Our-in depth analysis of the global blood plasma market includes the following segments:
By End User
On the basis of regional analysis, global blood plasma market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
On the back of increasing geriatric population, rising developments in biomedical technologies, higher disposable income and rapidly advancing healthcare sector, North America is anticipated to have the largest market share in the global blood plasma market.Europe is expected to hold the second largest market share in the global blood plasma market on account of increased focus on research and developmental activities in the region.
In the Asia Pacific region, China is anticipated to be the fastest growing market on account of rising population base, increased focus on the healthcare sector and rising disposable income.
The global blood plasma market is further classified on the basis of region as follows:
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