Plasma Protein Therapeutics Market: emergence of novel plasma-derived therapies to Propel Growth
The global plasma protein therapeutics market is foretold to witness healthy growth on the back of several factors. Swelling use of immunoglobulins for the treatment of primary immunodeficiency disorders (PID), along with rising use of human immunoglobulins for novel indications and potency of plasma protein therapeutics to be used as a drug formulation agent are some of the prominent ones. Furthermore, emergence of novel plasma-derived therapies and uptake of modern therapeutics for disease indication in emerging economies is fuelling the plasma protein therapeutics market.
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On the downside, however, limited reimbursement scenarios and strict regulations in place that oversee end-to-end handling of plasma protein products are bottlenecks to the market’s growth. Considering a host of positive factors, Transparency Market Research (TMR), forecasts the global plasma protein therapeutics market to clock a CAGR of 6.3% between 2017 and 2024.
In terms of product type, the plasma protein therapeutics market comprises coagulation factors, immunoglobulins, C1-esterase inhibitors, albumins, and others (alpha-1 proteinase inhibitors and hyperimmune globulin). Immunoglobulins, among them, currently account for the leading share in this market. Going ahead, the immunoglobulins segment is anticipated to be worth US$15,516.0 mn by 2024 vis-à-vis revenue. Intravenous immunoglobulin (IVIG) is a key product obtained from large collection of human plasma with antibodies against a host of bacterial and viral agents. IVIG finds widespread applications in PIDs and neurological applications. Within immunoglobulin, hyperimmunoglobulin and subcutaneous immunoglobulin are some other key sub-segments.
Albumin segment is a key one due to its usage as a plasma replacement or expander for therapeutic purposes. Sepsis, septic shock, burn therapy, renal dialysis, and therapeutic plasma exchange are key therapeutic areas where human albumin is used. In addition, increasing applications of human albumin as a drug formulation agent, sealant in surgeries, vaccine ingredient, and coating for medical devices and equipment are likely to up its market share in the years ahead.
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On the other hand, concentrated coagulation factor within coagulation factor segment is likely to display declined share over the forecast period between 2017 and 2024.
The key segments of the plasma protein therapeutics market based on application are hemophilia, primary immunodeficiency disorder, idiopathic thrombocytopenic purpura, hereditary angioedema, secondary immunodeficiency, and others.
Out of these, primary immunodeficiency diseases (PIDs) hold substantial share in the plasma protein therapeutics market. Worldwide approximately 6 million individuals are anticipated to live with PID, of which only 27,000 to 60,000 have been identified. Plasma immunoglobulins are widely used to treat PIDs. With increasing demand and expansion of clinical product lines of immunoglobulins, the PID segment is likely to witness a surge. The PID segment is anticipated to be worth US$5,880.68 mn by 2024.
Geography-wise, North America and Europe are leading regions for plasma protein therapeutics. This is mainly because majority of plasma for the manufacture of plasma protein products is collected in over 450 collection centers in the U.S. and Europe. Vast amount of plasma protein products are exported from the U.S. and Europe to countries in Asia Pacific.
Leading companies in the global plasma protein therapeutics market are Octopharma, Baxalta, CSL Behring, and Grifols S.A. Some other companies operating in the global plasma protein therapeutics market are Biotest, China Biologics, Kedrion Inc., and Shire plc.
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