Report : North America Blood Plasma Derivatives Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Albumin, Factor VIII, Factor IX, Immunoglobulin, Hyperimmune Globulin, and Others), Application (Hemophilia, Hypogammaglobulinemia, Immunodeficiency Diseases, von Willebrand’s Diseases, and Others), and End User (Hospitals, Clinics, and Others)
At 9.6% CAGR, the North America Blood Plasma Derivatives Market is speculated to be worth US$ 20,447.70 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America blood plasma derivatives market was valued at US$ 11,821.24 million in 2022 and is expected to reach US$ 20,447.70 million by 2028, registering a CAGR of 9.6% from 2022 to 2028. Increase in prevalence of blood disorders and rise in geriatric population are the critical factors attributed to the North America blood plasma derivatives market expansion.
The elderly population is rising across the world. Three groups of hematological neoplastic disorders, including multiple myeloma, acute myeloid leukemia, and chronic lymphatic leukemia, increase with age. Multiple myeloma is cancer related to blood plasma and mainly affects the elderly. As per the Global Ageing 2019 survey, the population of people aged 65 and above across the world was 703 million in 2019. Furthermore, the elderly population is expected to double to 1.5 billion by 2050. According to the WHO, the percentage of people aged 60 and above is estimated to reach 22% by 2050 from 12% in 2015. Furthermore, the United Nations World Population Ageing 2017 report states 962 million people worldwide were aged 60 or above in 2017, and the number is expected to reach ~2.1 billion by 2050. According to the US Census Bureau, the number of Americans aged 65 and above is estimated to increase from 46 million in 2016 to more than 98 million by 2060, and this demographic group will account for ~24% of the global population by 2060, up from 15% in 2016.
One of the most recognized consequences of aging is a weak immune system. For people aged 65 and above, plasma therapy is the most successful therapy to treat multiple physiological disorders. Aging can cause changes in the blood marrow. Thus, there is an increased risk of developing cardiovascular, neurological, and blood-related disorders. Therefore, the rise in the prevalence of such disorders among geriatric populations is fueling the growth of the North America blood plasma derivatives market.
On the contrary, complicated reimbursement policies hurdles the growth of North America blood plasma derivatives market.
The North America blood plasma derivatives market, by type, is segmented into albumin, factor VIII, factor IX, immunoglobulin, hyperimmune globulin, and others. The immunoglobulins segment held 45.0% market share in 2022, amassing US$ 5,317.55 million. It is projected to garner US$ 9,488.33 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on application, the North America blood plasma derivatives market is divided into hemophilia, hypogammaglobulinemia, immunodeficiency diseases, von Willebrand disease, and other applications. The immunodeficiency diseases applications segment held 34.2% market share in 2022, amassing US$ 4,040.14 million. It is projected to garner US$ 7,214.40 million by 2028 to expand at 10.1% CAGR during 2022–2028.
The blood plasma derivatives market, by end user, is segmented into hospitals, diagnostic laboratories, clinics, and other end users. The hospitals segment held 60.3% market share in 2022, amassing US$ 7,128.06 million. It is projected to garner US$ 12,244.27 million by 2028 to expand at 9.4% CAGR during 2022–2028.
Based on country, the North America blood plasma derivatives market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.6% market share in 2022. It was assessed at US$ 9,878.51 million in 2022 and is likely to hit US$ 17,241.50 million by 2028, exhibiting a CAGR of 9.7% during the forecast period.
Key players dominating the North America blood plasma derivatives market are Grifols SA; SK Plasma Co Ltd; Octapharma AG; Monobind Inc.; Intas Pharmaceuticals Ltd; Takeda Pharmaceutical Co Ltd; CSL Behring LLC; LFB SA; and Kedrion SpA, among others.
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