Plasma-derived therapies allow individuals with chronic and life threatening diseases to lead more productive and healthy lives by replacing the missing or deficient proteins. The patients relying on these therapies require regular injections or infusions throughout their lives. Since the diseases treated by plasma therapies affect a small percentage of the population, they are often considered as rare. Most of these diseases are genetic and chronic conditions. However, over the years there is a rise in these rare diseases demanding more treatment options.
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Plasma-derived Protein Therapies Market: Drivers and Restraints
Higher volume of immunoglobulin usage in developed countries and strong demand for albumin in Asia pacific is expected to drive the growth of the plasma-derived protein therapies market during the forecast period. Increasing focus and growing investment in innovation is anticipated to propel the growth of the plasma-derived protein therapies market. For Instance, in March 2016, Grifols announced an investment of US$ 360 Mn to expand its capabilities in the production of plasma-derived therapies.
The investment will increase the purification and plasma fractionation capacity of several proteins. Thus leading the plasma-derived protein therapies market towards a significant growth.
In addition, rising incidence of life threatening diseases such as multifocal motor neuropathy (MMN), ideopathic thrombocytopenic purpura (ITP) and other infectious diseases including rabies tetanus, hepatitis A&B, and varicella is also expected to drive the growth of the market. According to WHO estimates that in 2015, around 257 million were living with chronic hepatitis B infection.
However, high cost of these therapies may restrict the growth of the plasma-derived protein therapies market. Moreover, stringent regulations and reimbursement scenario may hamper the plasma-derived protein therapies market during the forecast period.
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Plasma-derived Protein Therapies Market: Overview
Based on type, the immunoglobulin segment is expected to account for the largest share due to its beneficial application in treating patients with rare diseases. Additionally, Albumin is also expected to lead considerable growth in this segment owing to its demand in developing countries.
In the application segment, the immunological disorders are expected to hold the highest share due to growing awareness about treatment options provided by plasma-derived therapies.
Based on end user, the hospital segment is expected to have the largest share due to frequent patient visits for diagnosis and treatment of various infectious and immunological disorders.
Plasma-derived Protein Therapies Market: Regional-Wise Outlook
Geographically, the Plasma-derived protein therapies market is segmented into seven regions, i.e.; Latin America, South Asia, Oceania, East Asia, Europe, North America and Middle East & Africa.
The North America is expected to account for the largest share in the Plasma-derived protein therapies market due to rising geriatric population who are more susceptible to life threatening diseases. According to the U.S Census Bureau, there were 40.3 million U.S. residents 65 years and older in the 2010 census and more than 54 million on July 1, 2019. Other factors contributing towards the growth of the regional growth of the market in North America is large patient base and well- developed healthcare infrastructure.
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