Report : Middle East and Africa 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)
Hematology Segment is Expected to be Fastest Growing During the Forecast Period for the MEA Region
According to a new market research study on “MEA Plasma Fractionation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User” is expected to reach US$ 3,490.73 million by 2028 from 2,455.61 US$ million in 2021. The market is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The report provides trends prevailing in the MEA plasma fractionation market along with the drivers and restraints pertaining to the market growth. Emerging countries showing growth capability is the major factor driving the growth of the MEA plasma fractionation market. However, issues associated with availability of various non-plasma substitutes hinder the growth of MEA plasma fractionation market.
MEA plasma fractionation market is segmented into product, application, end user, and country. The MEA 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 MEA 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 MEA 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 MEA plasma fractionation market is segmented into Saudi Arabia, South Africa, the UAE, and rest of the MEA. Rest of the MEA held the largest market share in 2021.
Economic uncertainties and ongoing conflicts are worsening the condition in the region. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflicts and cannot implement robust public health measures. Iran was in a deep economic recession due to the US sanctions. Also, the major source of economic stabilization in the Middle East countries is oil production and export. However, the COVID-19 pandemic is causing turbulence in the economies of the Middle East. A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage are major impacts observed in the region. The spread of COVID-19 in the region caused heavy burdens on healthcare professionals. Cardiac surgeons were overloaded with emergency cardiac surgeries, management of COVID-19 patients, and implementation of safety guidelines to prevent the spread of the virus. The rapid spread of the virus impacted elective surgeries. Hence, the COVID-19 outbreak negatively impacted the growth of the MEA plasma fractionation market.
Bharat Serums and Vaccines Limited (BSV); Bio Products Laboratory Ltd.; Biotest AG; CSL Limited; Grifols, S.A.; Kedrion S.p.A; Octapharma AG; and SK Plasma are among the leading companies in the MEA 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, Liminal BioSciences Enters into Agreement with Kedrion to Divest Its Plasma Collection and Plasma-Derived Therapeutics Business.
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