Report : South & Central 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 8.7% CAGR, the South & Central America Blood Plasma Derivatives Market is speculated to be worth US$ 3,067.15 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America blood plasma derivatives market was valued at US$ 1,864.04 million in 2022 and is expected to reach US$ 3,067.15 million by 2028, registering a CAGR of 8.7% from 2022 to 2028. Increase in prevalence of blood disorders and rise in geriatric population are the critical factors attributed to the South & Central America blood plasma derivatives market expansion.
Reimbursement coverage varies from patient to patient. Major factors affecting the reimbursement of blood plasma therapies include the country belongings (the country which you belong) and disease state or therapy area (TA) of the patients. Patients’ eligibility criteria is the most critical in the reimbursement process; even if a particular therapy area is reimbursed, patients fail to get reimbursement. The process does not always guarantee that all patients can benefit after receiving the treatment under the co-payment method.
For instance: Alpha-1 antitrypsin (a 52 kDa plasma protein) deficiency, a plasma protein deficiency can cause chronic obstructive pulmonary diseases in patients. Currently, recommended dosages of IgG in treating immune deficiency disorders are associated with a prevalence of severity of infection. The potential demand for these immunoglobulin therapies is unspecified and changes with patients’ physical conditions. Different routes of an administration charge different costs of treatment to the patients. Hence, structuring reimbursement policies based on current quality-adjusted life year (QALY) costs do not guarantee optimal care of patients. In addition, the situation is also varied for other treatments such as clotting factors for bleeding disorders and C1 esterase inhibitors in hemophilia. Hence, the reimbursement coverage is not associated with specific indicators, such as type of disorders, age group, and others. These factors further complicate the reimbursement policy for patients treated with blood plasma derivatives.
On the contrary, complicated reimbursement policies hurdles the growth of South & Central America blood plasma derivatives market.
The South & Central America blood plasma derivatives market, by type, is segmented into albumin, factor VIII, factor IX, immunoglobulin, hyperimmune globulin, and others. The immunoglobulins segment held 44.4% market share in 2022, amassing US$ 827.95 million. It is projected to garner US$ 1,402.69 million by 2028 to expand at 9.2% CAGR during 2022–2028.
Based on application, the South & Central America blood plasma derivatives market is divided into hemophilia, hypogammaglobulinemia, immunodeficiency diseases, von Willebrand disease, and other applications. The immunodeficiency diseases applications segment held 33.8% market share in 2022, amassing US$ 629.62 million. It is projected to garner US$ 1,071.51 million by 2028 to expand at 9.3% 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 60.6% market share in 2022, amassing US$ 1,129.08 million. It is projected to garner US$ 1,849.08 million by 2028 to expand at 8.6% CAGR during 2022–2028.
Based on country, the South & Central America blood plasma derivatives market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 56.9% market share in 2022. It was assessed at US$ 1,060.18 million in 2022 and is likely to hit US$ 1,773.36 million by 2028, exhibiting a CAGR of 9.0% during the forecast period.
Key players dominating the South & Central America blood plasma derivatives market are Grifols SA; Octapharma AG; Monobind Inc.; CSL Behring LLC; LFB SA; Kedrion SpA; and Takeda Pharmaceutical Co Ltd, among others.
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