Plasma Fractionation Market Growth Prospects, Trends and Forecast up to 2024
ALBANY, New York, June 14, 2020–
The global plasma fractionation market is all set to gather handsome amount in revenues during the forecast period of 2018 to 2026, states a recently published report by Transparency Market Research (TMR). This remarkable growth is attributed to plethora of reasons. Increased indications and therapeutic use of plasma-derived proteins in the healthcare sector is one of the key reasons driving the growth of the global plasma fractionation market. In addition to this, considerable increase in the number of older people in all worldwide locations is fueling the growth of the market for plasma fractionation.
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The report performs segmentation of the global plasma fractionation market on the basis of various key aspects such as application, product type, end-user, and region. In recent period, the market for plasma fractionation is witnessing rising demand avenues from the healthcare sector. Some of the key products with high demand are coagulation factor concentrates, immunoglobulin, protease inhibitors, albumin, and other plasma products. Thus, rising demand for these products will boost the market growth in the upcoming years.
According to the report, the global plasma fractionation market is projected to grow at a CAGR of approximately 7.1% during the forecast period of 2018 to 2026. The market for plasma fractionation will touch the valuation of around US$ 33,763.10 mn by 2026. The valuation of the market was about US$ 18,420.00 mn in 2017.
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Rising Demand for Plasma Proteins Boosts Market Growth
The global plasma fractionation market is witnessing stupendous growth avenues owing to plethora of reasons. Rising investments in innovation, growing occurrence of various rare diseases, and growing demand for plasma proteins from all across the world are some of the key factors working as a driver for the development of the global plasma fractionation market.
Many enterprises from healthcare sector are growing their efforts on research and development activities. The main motive of these efforts is the development of novel plasma protein therapies and innovative treatment options. All these factors are fueling the growth of the global plasma fractionation market.
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Vendors Execute Diverse Strategies to Lead Market
The global plasma fractionation market is fairly fragmented in nature. Owing to presence of many players, the competitive landscape of the market for plasma fractionation is highly intense. Several vendors are executing diverse strategies to maintain the leading position in the global plasma fractionation market. This aside, many enterprises are entering into partnership agreements. These moves are helping them to expand regional presence and gain leading position in the market for plasma fractionation.
Shire plc, CSL Limited, Biotest AG., Sanquin, Baxter International Inc., GRIFOLS, Octapharma, China Biologic Products Holdings, Inc., and Kedrion are some of the key players working in the global plasma fractionation market.
North America Shows Lucrative Avenues for Market Growth
Asia Pacific, North America, Europe, Middle East and Africa, and Latin America are key regions for the global plasma fractionation market. Of them, North America is one of the prominent regions offering lucrative avenues for the market growth. Players are expected to witness stupendous sales opportunities in the forthcoming period. This growth is attributed to high occurrence of various infectious diseases including influenza, cholera, and syphilis in this region. Apart from this, noteworthy number of older population in North America signifies that the plasma fractionation market will grow at a rapid pace during forecast period of 2018 to 2026.
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The assessment performed here is based on a report by Transparency Market Research (TMR) titled “Plasma Fractionation Market (Product Type – Immunoglobulin, Coagulation Factor Concentrates, Albumin, Protease Inhibitors; Applications – Neurology, Immunology, Hematology, Critical Care, Pulmonology; End use – Hospitals and Clinics, Clinical Research Laboratories, Academic Institutes) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
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