Report : North America 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)
Immunoglobulin Segment to Dominate North America Plasma Fractionation Market during 2020–2028
According to a new market research study on “North America Plasma Fractionation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User” is expected to reach US$ 1,4740.90 million by 2028 from 9,484.91 US$ million in 2021. The market is estimated to grow at a CAGR of 6.5% from 2021 to 2028. The report provides trends prevailing in the North America plasma fractionation market along with the drivers and restraints pertaining to the market growth. Growing uses of plasma therapy is the major factor driving the growth of the North America plasma fractionation market. However, issues associated with presence of non-plasma substitutes hinders the growth of North America plasma fractionation market.
North America plasma fractionation market is segmented into product, application, end user, and country. The North America 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 North America 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 North America 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 North America plasma fractionation market is segmented into the US, Canada, and Mexico. The US held the largest market share in 2020.
The COVID-19 pandemic is creating unprecedented operational and clinical challenges for healthcare institutions in the region. Moreover, the shift of priorities from chronic diseases and disorders treatments to COVID-19 diagnosis and treatment devices is leading to a decline in market growth up to a certain extent. Although no specific drug therapy for COVID-19 has been approved, convalescent plasma therapy is expected to improve the survival rate of COVID-19 patients based on the results of a number of clinical trials. For instance, in North America, the food and drug administration has approved the emergency use authorization of convalescent plasma for the treatment and care of COVID-19 patients. The EUA, i.e., emergency use authorization, has authorized the distribution of convalescent plasma in the US for treating suspected and confirmed COVID-19 patients. Thus, the emergency use of convalescent plasma for treating COVID-19 patients is leading to a positive impact on market growth.
Moreover, due to the COVID-19 outbreak, there was an overall decrease in blood donations, which ultimately affected the blood and plasma-derived products. The decreased blood donations affected the surgical procedures and treatments of other chronic diseases that require plasma-derived products or blood transfusions. Thus, the COVID-19 outbreak negatively impacted the plasma fractionation market in North America. However, with the beginning vaccination drives and the decrease in transmission rate, healthcare systems will return to normal in the long run. This, in turn, is expected to increase the demand for blood and plasma-derived products for the treatment of various disorders.
Bharat Serums and Vaccines Limited (BSV); Bio Products Laboratory Ltd.; CSL Limited; Grifols, S.A.; Kedrion S.p.A; Octapharma AG; and SK Plasma are among the leading companies in the North America 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, Bio Products Laboratory Announces Launch of ALBUMINEX 5% and ALBUMINEX 25% With Supply Immediately Available in the United States.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com