Plasma Therapy Global Market Report 2023

NEW YORK, Feb. 13, 2023 /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 $0.36 billion in 2021 to $0.40 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The plasma therapy market is expected to reach $0.61 billion in 2026 at a CAGR of 11.4%.

The plasma therapy market includes revenues earned by entities by replacing missing or deficient proteins and developing better means of managing the disease.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.

Plasma Therapy refers to a treatment that substitutes missing or inadequate proteins to help people live healthier and more fruitful lives. It introduces antibodies into individuals receiving therapy using blood donated by recovered patients.

North America is the largest region in the remdesivir market in 2022.Middle East is expected to be the fastest growing region in the forecast period.

The regions covered in the plasma therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of plasma therapy are pure PRP, leukocyte-rich PRP, pure platelet-rich fibrin (PRF), and leukocyte-rich fibrin (L-PRF).Pure Platelet-Rich Plasma (P-PRP) or leucocyte-poor PRP goods are activated preparations that lack leucocytes and have a low-density fibrin system.

The different applications include orthopedics, arthritis, chronic tendinitis, bone repair and regeneration, dermatology, androgenic alopecia, plastic surgery, dental, cardiac muscle injury, and others and are implemented in various sectors such as hospitals and clinics, laboratories, and research institutes.

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 that is injected into the joint to provide symptomatic relief by decreasing inflammation and slowing the progression of osteoarthritis. For instance, in July 2020, according to the Centers for Disease Control and Prevention (CDC), around 32.5 million people in the USA will be suffering from osteoarthritis. Some of the most commonly used treatments for osteoarthritis are autologous chondrocyte implantation and scaffold implants. Therefore, an increase in the prevalence of osteoarthritis is expected to drive the plasma therapy market.

The high cost of plasma therapy is expected to hinder the market.The major reason contributing to the high cost is due to 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 orthopedic 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 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 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 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 countries covered in the plasma therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The plasma therapy market research report is one of a series of new reports that provides plasma therapy market statistics, including plasma therapy industry global market size, regional shares, competitors with a plasma therapy market share, detailed plasma therapy market segments, market trends and opportunities, and any further data you may need to thrive in the plasma therapy industry. This plasma therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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