Plasma Therapy Global Market Report 2020-30: Covid 19 Growth and Change

NEW YORK, July 30, 2020 /PRNewswire/ -- Major players in the plasma therapy market are Takeda Pharmaceutical Company Limited, Bio Products Laboratory Ltd., Arthrex, Inc., Biotest AG, China Biologic Products Holdings, Inc., DePuy Synthes Companies, CSL Limited, Grifols, S.A., Octapharma, and Terumo BCT, Inc.

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The global plasma therapy market is expected to grow from $187.67 million in 2019 to $246.95 million in 2020 at a compound annual growth rate (CAGR) of 31.6%. The growth is mainly attributed to the COVID-19 outbreak and the urgent need to treat a growing number of cases. The use of convalescent plasma collected from individuals who have recovered from COVID-19 is one investigational treatment being explored for COVID-19. The market is then expected to stabilize and grow at a CAGR of 5.7% to reach 291.6 million in 2023.

The plasma therapy market consists of revenues generated by the companies that are engaged in selling and manufacturing plasma therapy products and related services. Plasma therapy is a technique where high concentrations of plasma are transfused or injected to patients to facilitate the healing process. Plasma therapy is frequently used for facial rejuvenation, androgenetic alopecia, and wound healing among others.

North America was the largest region in the plasma therapy market in 2019.

In August 2018, Grifols S.A., a leading manufacturer of plasma-derived medicines based in Spain, announced the acquisition of Biotest US for an amount of $286 million. Through this acquisition, Grifols S.A. is expected to gain access to 22 plasma collections centers of Biotest in the USA and give Biotest the access to the quality supply of raw materials and help patients relying on plasma-based therapies. Biotest U.S. is a geographical unit of Biotech AG based in Germany, which collects plasma for producing critical-care therapies used in different therapeutic areas. Biotest is a biotechnology pharmaceutical company founded in 1946. The company is engaged in supplying plasma protein products and biotherapeutic drugs.

The plasma therapy market covered in this report is segmented by type into pure PRP; leukocyte-rich PRP; pure platelet-rich fibrin (PRF); leukocyte-rich fibrin (L-PRF) and by application into orthopaedics; arthritis; chronic tendinitis; bone repair & regeneration; dermatology; androgenic alopecia; plastic surgery; dental; cardiac muscle injury; others.

The high cost of plasma therapy is expected to hinder the market. The major reason contributing to the high cost is due to the extraction and storage. The procedure of separating plasma and blood cells from the blood is called Plasmapheresis. The cost of plasmapheresis is approximately $5,000 to $10,000 in the United States. Average platelet-rich plasma orthopaedic treatment cost ranges from $350 to $1,050 for a single sitting and it may require 2 to 3 settings for the treatment to be effective. The high cost of plasma therapy hinders many patients to access the treatment thereby impacting the market negatively.

Convalescent plasma therapy, to treat patients suffering from COVID 19 is a leading trend in the plasma therapy market. Convalescent plasma is the plasma extracted from the individuals who have been cured of a particular viral infection, as they have antibodies that protect and make them immune to that particular organism. The convalescent plasma is transfused to the patient who is suffering from the viral infection to neutralize the viral infection and induce the active immune response to cure the infection. Convalescent plasma therapy is found to be a safe treatment to cure the patients infected with the coronavirus. Moreover, this therapy was used to treat other viral infections such as Ebola, Dengue, and SARS- 1 but did not give the desired result. In March 2020, Takeda Pharmaceutical Company Limited has initiated a plasma-therapy, Anti-SARS-CoV-2 polyclonal hyperimmune globulin (H-IG), which is termed as TAK-888 for treating COVID-19. The TAK-888 utilizes the plasma collected from convalescent donors who have been cured of COVID-19 and is administered to the patient suffering from COVID-19.

The rising prevalence of osteoarthritis is expected to drive the plasma therapy market during the forecast period. Platelet-rich plasma (PRP), a type of plasma therapy, is considered a safe and efficient treatment for osteoarthritis. Platelet-rich plasma (PRP) is a concentrated autologous blood growth factor, which is injected on to the joint to provide symptomatic relief by decreasing the inflammation and slows the progression of osteoarthritis. According to the Centers for Disease Control and Prevention (CDC), around 32.5 million people in the USA are suffering from osteoarthritis in 2019. Therefore, an increase in the prevalence of osteoarthritis is expected to drive the plasma therapy market.

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