PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424295
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424295
The Global Plasma Protein Therapeutic Market size is expected to reach US$ 46.49 Bn by 2030, from US$ 29.97 Bn in 2023, exhibiting a CAGR of 6.5% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023/2024: | US$ 29.97 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 6.50% | 2030/2031 Value Projection: | US$ 46.49 Bn |
Plasma protein therapeutic refers to therapeutic products that are derived from human blood plasma and are used for treating various medical conditions such as chronic disease and others. Blood plasma contains over 700 different proteins and serves various important functions in the body. Some of the major plasma protein therapeutics include immunoglobulins, coagulation factors, albumin, and other specialty proteins. These plasma derived products help in boosting the immune system, blood clotting, and other metabolic processes. With the growing geriatric population suffering from chronic diseases, there has been a rise in the demand for plasma therapeutics globally. Also, advanced purification technology has enabled significant yield of critical proteins from plasma in a cost-effective manner.
Market Dynamics:
The global plasma protein therapeutic market is driven by the rising prevalence of immune deficiency diseases and genetic disorders requiring plasma replacement therapies. The growing geriatric population prone to chronic illnesses like bleeding disorders is also supporting the demand. Continuous R&D efforts to develop new plasma-derived products and wider coverage under medical insurance schemes are providing opportunities in this space. However, stringent regulations pertaining to plasma collection and high capital requirements for plasma fractionation plants act as challenges. Also, the emergence of alternative recombinant therapies threatens the market growth. Safety concerns around plasma sourcing if not properly screened also hinder the market growth.
For instance, on June 26, 2023, according to a report published by the National Center for Biotechnology Information, in 2021, in South Korea, the occurrence rate of primary immunodeficiencies (PID) stood at around 11.25 cases per million children. The most commonly identified immunodeficiencies were those related to antibodies, constituting 53.3%, with phagocytic disorders trailing at 28.9%.
Global Plasma Protein Therapeutic Market Detailed Segmentation: