The COVID-19 pandemic is anticipated to have a positive impact on the global plasma therapy market. The PRP segment is estimated to play a dominant role in the market during the forecast period. By source, the autologous segment is projected to witness a considerable growth by 2026. In addition, the Asia Pacific region is expected to create massive growth opportunities in the global market. Majority of the prominent players of the industry are adopting several strategies to strengthen their market position in these unprecedented times.
The global plasma therapy market is projected to garner $432.8 million by 2026, rising at a healthy CAGR of 16.3% from 2019 to 2026, reveals a new Research Dive published report. The report segments the global market into source, type, end-use, application, and region. The study offers comprehensive analysis of drivers, opportunities, restraints, vital segments, and top market players. As per the report, cumulative demand for plasma treatment for treating orthopedic conditions & neurological disorders and growing awareness amongst people regarding dental health & personalized healthcare systems are significant factors boosting the growth of the global plasma therapy market. Conversely, high expenses involved in plasma therapy is a prime factor predicted to restraint the market growth during the forecast period.
Growing Positively Despite COVID-19 Chaos
This sudden outburst of coronavirus pandemic has imposed an optimistic impact on the global plasma therapy market. This market is anticipated to observe significant growth during this pandemic period. Presently, scientists from various parts of the world are concentrating on numerous possibilities to invent an effective treatment or vaccine that can combat this life-threatening disease. Researchers are majorly considering the plasma therapy technique as a possible treatment for this disease. This factor is considerably boosting the demand for plasma therapy for the treatment of COVID-19 disease, thus boosting the market growth during the pandemic period.
PRP Segment to Play a Dominant Role in the Industry
By types, the global market for plasma therapy is divided into pure platelet-rich plasma (PRP), leukocyte-rich fibrin, leucocyte-rich PRP, and pure platelet-rich fibrin. Of these, the pure PRP segment accounted for $50.1 million in 2018 and is expected to rise at a healthy growth rate of 16.7% during the period of forecast. This growth is mainly attributed to the growing usage of pure PRP in the treatment of neurosurgery, orthopedics/spinal surgery, cosmetic surgery, and others due to its cost effectiveness than its other counterparts.
Autologous Source Segment to Lead the Market
Based on source, the global industry is classified into autologous and allogeneic. Among these, the autologous source segment is anticipated to reach up to $298.6 million by 2026. This segment is further expected to dominate the market throughout the forecast because autologous biologics plays a vital role in tissue repair and generation treatments and also helps in enhancing the healing power of recalcitrant and chronic wounds.
Regional Breakdown of the Market
Regionally, the report evaluates the global market across North America, Asia Pacific, Europe, and LAMEA. The North American region grabbed the majority of market share in 2018 and is expected to surpass $155.8 million revenue by 2026. This is primarily owing to the developments in advanced protein fractioning procedures and surging demand for plasma therapy techniques from hospitals & clinics in this region. Besides, the Asia-Pacific market for plasma therapy is projected to experience an impressive growth and generate rewarding growth opportunities during the estimated timeframe.
Major Market Players
The leading players functioning in the global plasma therapy market include Kedrion S.p.A, Grifols, S.A., CSL Limited, Cambryn Biologics, LLC, Bio Products Laboratory Ltd, Octapharma AG, BioLife PLASMA SERVICES, Biotest AG, China Biologic Products Holdings, Inc., and others. These players are involved into implementing several business ploys such as acquisitions, mergers, and collaborations & partnerships to obtain a major market share in the global industry.
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