Increase in geriatric population across the world, surge in the incidence of rare diseases, rise in use of immunoglobulins in medicine, and emergence of plasma collection centers in different countries fuel the growth of the global plasma fractionation market. On the basis of sector, the private sector held the major share in 2019. Based on region, on the other hand, North America held the major share in 2019.
Portland, OR, April 21, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Plasma Fractionation Market was estimated at $18.22 billion in 2019 and is expected to hit $23.00 billion by 2027, registering a CAGR of 6.2% from 2020 to 2027. The report provides an all-inclusive analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Increase in geriatric population across the world, surge in the incidence of rare diseases, rise in use of immunoglobulins in medicine, and emergence of plasma collection centers in different countries fuel the growth of the global plasma fractionation market. On the other hand, high cost of plasma derived products impedes the growth to some extent. Nevertheless, high growth potential in emerging economies is expected to pave the way for lucrative opportunities for the frontrunners in the industry.
The outbreak of covid-19 led to postponements of planned surgeries across the world. Cases of hospital admission were also declined substantially. This factor affected the global plasma fractionation market.
Simultaneously, the pandemic has also given way to a steep decline in the count of blood donations and plasma collections.
The global plasma fractionation market is analyzed across product, sector, and region. On the basis of product, the immunoglobulin segment contributed to around two-thirds of the total market share in 2019 and is anticipated to dominate by 2027. The albumin segment, on the other hand, would register the fastest CAGR of 6.3% during the forecast period.
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On the basis of sector, the private sector accounted for more than three-fifths of the total market revenue in 2019 and is projected to retain its dominance throughout the forecast period. The same sector would also cite the fastest CAGR of 6.4% by the end of 2027.
Based on region, North America generated the major share in 2019, garnering around half of the global plasma fractionation market. Simultaneously, the region across Asia-Pacific would exhibit the fastest CAGR of 6.6% from 2020 to 2027. The other two provinces covered in the report include Europe and LAMEA.
The key market players analyzed in the global plasma fractionation market report include Bio product laboratory, Biotest AG, Takeda Pharmaceutical Company Limited, CSL Ltd., Grifols SA, Kedrion S.P.A (Kedrion Biopharma Inc.), LFB S. A., Octapharma AG, Baxter International Inc., and Sanquin Blood Supply Foundation. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their bent in the industry.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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