Plasma fractionation Market is Expected to Reach Around $25,383.4 Million by 2019. - New Research Report by MarketsandMarkets
(PRWEB) January 28, 2015 -- The global plasma fractionation market is poised to grow at a CAGR of 8.9% from 2014 to 2019. The rapid surge in aging population, increasing number of hemophilic patients, and rise in the number of prophylactic treatments are the major factors driving the growth of the plasma fractionation market.
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Intravenous immunoglobulin (IVIg) is the most extensively-used plasma product across the globe in clinical specialties such as neurology, hematology, immunology, nephrology, rheumatology, and dermatology. However, among all the plasma products, IVIg is primarily used in the treatment of neurological disorders including dermatomyositis, Guillain–Barre syndrome, chronic inflammatory demyelinating polyneuropathy (CIDP), multifocal motor neuropathy (MMN), myasthenia gravis, and stiff person syndrome. The use of IVIg is also being evaluated in the treatment of Alzheimer’s disease. Positive results in such conditions would increase the demand for IVIg globally in future.
The majority of growth in the global plasma fractionation market will be driven by the increase in the use of IVIg due to the rise in aging population and high disposable income in developing economies, particularly in Asian countries. Economies such as China, Singapore, India, and Korea are witnessing an increase in the number of specialty hospitals focusing on plasma products for the treatment of neurological diseases and critical conditions such as burn, sepsis, and shock, which is expected to boost the Asian plasma fractionation market and thereby the use of IVIg. In addition, the growing number of plasma fractionation plants in Asian countries is expected to cater to the growing demand for plasma products across the globe.
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The use of immunoglobulin for neurological indications accounts for over 40% of the total usage of immunoglobulin, making neurology the largest application area for immunoglobulins. This is mainly attributed to the response of IVIg in a shorter period of time than steroids or oral immunosuppressants. Neurological disorders are a large and growing challenge across the globe. With the rise in aging population, the prevalence of various neurological disorders is also expected to rise as the aging population is more susceptible to these diseases.
The plasma fractionation market is consolidated with the top 5-6 players accounting for nearly 70%-75% of the market in 2013. The majority of leading players in the market are based in developed countries across the Pacific, Europe, and North America.
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In this consolidated market, CSL Ltd. (Australia) and Grifols International SA (Spain) were the leading companies, followed by Baxter International, Inc. (U.S.), Octapharma AG (Switzerland), LFB (France), and Biotest (Germany) in 2013. The leading position of CSL Ltd. is mainly attributed to its broad range of innovative plasma-derived products offered for healthcare professionals in neurology, immunology, hematology, and other critical conditions such as burns and traumatic injuries. The company further focuses on research and development to develop innovative products to gain an edge over its competitors and strengthen its existing product line. In this regard, in 2014, the company invested $466 million in R&D compared to $427 million in 2013. The company has a strong distribution channel across the globe, with a presence in over 27 countries and major facilities in Australia, Germany, Switzerland, and the U.S.
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