Plasma Derived Therapy Market Projected to Reach Remarkable Heights with a Strong CAGR of 7.5% by 2030
According to a new report published by MarkWide Research, titled, “Plasma Derived Therapy Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2030”, the global plasma derived therapy market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 7.5% from 2023 to 2030. The market’s anticipated expansion is attributed to the rising prevalence of chronic diseases, advancements in medical technology, and increasing investment in research and development.
Plasma derived therapies have garnered significant attention in the healthcare sector owing to their potential to treat a wide range of medical conditions. These therapies involve the utilization of proteins obtained from human plasma to develop treatments for various diseases, including immune deficiencies, bleeding disorders, and neurological disorders. The increasing incidence of these ailments is driving the demand for effective therapeutic options, thereby boosting the growth of the plasma derived therapy market.
The report highlights that the growing geriatric population, who are more susceptible to chronic diseases, is a key factor driving the market’s expansion. Additionally, the increasing awareness among patients regarding advanced treatment options and the rising healthcare expenditure are anticipated to contribute significantly to the market growth during the forecast period.
Key Findings from the Report:
- Immunoglobulin Segment to Lead the Market: The immunoglobulin segment is expected to dominate the plasma derived therapy market, accounting for a significant revenue share. This can be attributed to the extensive utilization of immunoglobulins in the treatment of immune deficiencies and autoimmune disorders.
- Neurology Applications on the Rise: The report highlights the growing use of plasma derived therapies in neurological disorders such as Alzheimer’s disease, multiple sclerosis, and Parkinson’s disease. The increasing prevalence of these disorders is likely to fuel the demand for innovative therapeutic solutions.
- North America to Maintain its Foothold: Geographically, North America is projected to maintain its dominance in the plasma derived therapy market. The region’s well-established healthcare infrastructure, presence of key market players, and continuous research and development activities contribute to its leading position.
- Rising Investment in R&D: The market is witnessing significant investments in research and development activities by both established companies and new entrants. This influx of investment is expected to lead to the development of advanced plasma derived therapies, further propelling market growth.
- Challenges in Plasma Collection: While the plasma derived therapy market holds immense potential, challenges related to plasma collection and storage might restrain market growth. Stringent regulations and ethical concerns associated with plasma collection could hinder the expansion of the market.
The report provides a comprehensive analysis of the competitive landscape of the plasma derived therapy market. Key players are focusing on strategic collaborations, mergers, and acquisitions to enhance their market presence and expand their product portfolios.
In conclusion, the global plasma derived therapy market is on track to achieve remarkable growth with a projected CAGR of 7.5% from 2023 to 2030. The increasing prevalence of chronic diseases, coupled with advancements in medical technology, is driving the demand for innovative therapeutic solutions. Despite challenges related to plasma collection, the market’s potential for addressing a wide range of medical conditions remains promising.