Report : Europe Plasma Fractionation Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Immunoglobulin, Albumin, Coagulation Factor Concentrates, Protease Inhibitors, and Other Plasma Products), Application (Neurology, Immunology, Hematology, Critical Care, Pulmonology, and Other Applications), and End User (Hospitals and Clinics, Clinical Research Laboratories, and Academic Institutes)
Neurology Segment to Dominate Europe Plasma Fractionation Market during 2020–2028
According to a new market research study on “Europe Plasma Fractionation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User” is expected to reach US$ 10,402.95 million by 2028 from 6,824.67 US$ million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the Europe plasma fractionation market along with the drivers and restraints pertaining to the market growth. Fast Market development owing to active participation of market players is the major factor driving the growth of the Europe plasma fractionation market. However, issues associated with alternate of non-plasma substitutes availability hinders the growth of Europe plasma fractionation market.
Europe plasma fractionation market is segmented into product, application, end user, and country. The Europe plasma fractionation market, based on product, has been segmented into immunoglobulin, albumin, coagulation factor concentrates, protease inhibitors, and others. The immunoglobulin segment is likely to hold the largest share of the market in 2021. The Europe plasma fractionation market, based on application is segmented into neurology, immunology, hematology, critical care, pulmonology, and others. In 2021, the Neurology segment is likely to hold the largest share of the market. The Europe plasma fractionation market, based on end user is segmented into hospitals and clinics, clinical research laboratories, academic institutes. In 2021, the hospitals and clinics segment is likely to hold the largest share of the market. Based on country, the Europe plasma fractionation market is segmented into France, Germany, Italy, Spain, the UK, and rest of Europe. Rest of Europe held the largest market share in 2021.
In European countries, the medical practice of various chronic diseases such as neurological disorders, hematological disorders, and respiratory diseases has changed. Due to the diversification of the medical staff and the decision to focus on treating the critically ill, rising COVID-19 has impacted illness detection and treatment. Due to the current pandemic, many research organizations are focusing more on COVID-19 studies and are working hard to understand the virus better. Some of the federal agencies in the region have taken the initiative to adopt plasma therapy to treat COVID-19 patients. For instance, the National Agency for Medicines and Health Products Safety of France (ANSM) announced that immune plasma therapy would be used in treating critically ill patients. Also, the European Commission recommended the emergency use of convalescent plasma therapy to treat critical patients. Thus, the use of plasma therapies in the management of COVID-19 has positively impacted the market to some extent. However, due to COVID-19, the overall medical practice of neurological disorders, hematological disorders, and idiosyncratic disorders has changed, and the majority of pharmaceutical and biopharmaceutical companies are emphasizing on developing novel treatment therapies for COVID-19, which is negatively impacting the market growth.
Bharat Serums and Vaccines Limited (BSV); Bio Products Laboratory Ltd.; Biotest AG; CSL Limited; Grifols, S.A.; Kedrion S.p.A; Octapharma AG; Sanquin; and SK Plasma are among the leading companies in the Europe plasma fractionation market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, In April 2020, Octapharma collaborate with CSL, Takeda, BPL, Biotest, and LFB to investigate the possibility of treating COVID-19 with plasma-derived hyperimmune immunoglobulins.
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