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The global plasma fractionation market size is expected to reach USD 48.55 billion by 2027. The growing demand for these fractionation products is expected to have an excellent effect on the market during the forecast period, mentioned in a report, titled “Plasma Fractionation Market Size, Share & COVID-19 Impact Analysis, By Product (Immunoglobulin, Albumin, Coagulation Factors, Protease Inhibitors, and Others), By Application (Immunology & Neurology, Hematology, Critical Care, Pulmonology, and Others), By End-user (Hospitals & Clinics, Clinical Research Laboratories, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 25.44 billion in 2019 and is expected to exhibit a CAGR of 7.6% between 2020 and 2027.
FDA Grant for Houston’s Plasma Transfusion to Stimulate Market
Houston Methodist Hospital, the flagship hospital of Houston Methodist announced that it became the first in the United States to treat COVID-19 through blood plasma transfusion. The U.S. Food and Drug Administration (FDA) gave clearance to Houston Methodist to became the first academic medical center to transfuse donated blood plasma from a fully recovered COVID-19 patient into an infected person. The plasma therapy is called convalescent serum therapy that will help in the fight against coronavirus. The antibodies found in plasma can facilitate the immune system to eradicate foreign substances in the body, such as bacteria and viruses. The soaring infection rates and death tools have compelled the FDA to take swift actions in favor of plasma transfusion. In addition, the growing success rate of blood transfusion will consequently spur demand among patients, in turn, accelerating the growth of the market.
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High Production of Plasma Products to Spur Business Opportunities
The increasing focus on inaugurating advanced plasma fractionation facilities by major players can enhance the prospects of the market. For instance, Kedrion Biopharma received FDA approval for establishing a plasma manufacturing facility in Melville dedicated to plasma proteins. The facility will carry out the process of fractionation in a sterile micro-organism free environment. Moreover, the rising demand for blood plasma especially in the time of COVID-19 pandemic will increase the demand for plasma fractionation proteins, in turn bolstering the growth of the market.
Presence of CSL and Grifols to Consolidate Industry
CSL and Grifols are expected to dominate the global market during the forecast period owing to their increased research and development for the manufacturing of biologics. Grifols and CSL hold a 45% share in terms of global plasma fractionation market revenue. Kedrion S.p.A., Octapharma, Shire, Biotest AG, Baxter, and others are some of the players focused on establishing a strong footprint in the market. The ongoing product development and studies will have an excellent influence on the market during the forecast period.
The Report Lists the Main Players in this Market:
Further Report Findings:
The market for plasma fractionation is segmented into:
Value (USD billion)
By Product Type
By End User