Plasma Therapy Market Insight 2030
The global plasma therapy market size was valued at $350.21 Million in 2020 and is projected to reach $698.46 Million by 2030 registering a CAGR of 8.50% from 2021 to 2030. Blood plasma comprises platelets, autologous platelets, and cytokines, which help in healing of soft tissues. Plasma therapy is a traditional method broadly used in specialties of dentistry, dermatology, and orthopedics. Plasma therapy is extensively used in wound healing, androgenetic alopecia, and face rejuvenation. Plasma is concentrated up to 3–5 times of the physiological value and then injected into tissues where healing is required. In addition, convalescent plasma therapy may be given to people with COVID-19 who are in the hospital and are early in their illness, which further drive the plasma therapy market growth.
Growth of the global plasma therapy market is majorly driven by rise in prevalence of life-threatening diseases, which includes various neurological system disorders such as chronic inflammatory demyelinating polyneuropathy (CIPD), idiopathic thrombocytopenic purpura (ITP), and multifocal motor neuropathy (MMN).
Rise in occurrence of contagious diseases such as hepatitis A&B, tetanus, and rabies is estimated to impact the market positively during the forecast period. Furthermore, geriatric population suffers from various diseases and is more prone to infectious diseases, owing to weak immunity. This is expected to increase demand for plasma therapy, which is expected to boost the market growth. However, high cost of plasma therapy is anticipated to restrain the global plasma therapy market. In addition, rise in number of patients that are suffering from orthopedic disorders and androgenic alopecia further provide opportunities for the plasma therapy.
What is the Impact of COVID-19 Pandemic on the Plasma Therapy Market?
The outbreak of COVID-19 has disrupted workflows in the healthcare sector across the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of healthcare. Moreover, COVID-19 has positively impacted the plasma therapy market. On August 23, 2020, the FDA issued an emergency use authorization (EUA) for COVID-19 convalescent plasma for treatment of hospitalized patients with COVID-19 disease. Moreover, in March 2020, the Houston Methodist Hospital, U.S., announced that it was used plasma fractionation in the treatment of COVID-19. It became the first hospital in the U.S. to make use of plasma fractionation products in the fight against coronavirus disease pandemic.
Plasma from the blood of a patient who recovered from the COVID-19 was used for treatment of another patient suffering from COVID-19. Convalescent plasma can potentially develop as an effective treatment option to battle against the pandemic. Thus, rise in demand for plasma derived immunoglobulins for treatment procedures for COVID-19 patients with autoimmune and inflammatory disorders, which is anticipated to drive growth of the plasma fractionation market for immunoglobulin.
By Type
Pure Platelet Rich Plasma segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Plasma Therapy Market Segmentation
The global plasma therapy market is segmented into type, application, end user, and region. Depending on type, the market is bifurcated into pure platelet-rich plasma, leukocyte-rich PRP, pure platelet-rich fibrin, and leukocyte-rich fibrin. The application segment is further categorized into orthopedics, dermatology, dentistry, and others.
On the basis of end user, it is segregated into hospitals, dermatology clinics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Segment Review
By type, the pure PRP segment is estimated to account for the largest share of the global plasma therapy market in 2020, owing to effective results of pure PRP therapy. Furthermore, rise in funding for health care and increase in use of PRP in hospitals and clinics propels the market. The pure platelet-rich segment is also set to have a healthy growth, owing to increased usage and antimicrobial effects.
On the basis application, the orthopedic segment accounted for the largest share in 2020, owing to increase in occurrences of orthopedic disorders such as arthritis and rise in healthcare expenditure.
By Application
Orthopedics segment is projected as one of the most lucrative segment.
Snapshot of Asia-Pacific Plasma Therapy Market
North America is projected to account for a major share of the global plasma therapy market during the forecast period. The market in the region is anticipated to grow in the future, owing to rise in research and developments made by government and private sectors. Asia-Pacific is also set to have a considerable growth, owing to increase in population and rise in awareness for blood donation. Increase in number of hospitals and clinics and presence of advanced plasma therapies propels the plasma therapy market growth.
The key players operating in the global plasma therapy market include MTF Biologics, Regen Lab SA, Arthrex, Terumo Corporation, Zimmer Biomet, Johnson & Johnson (DePuy Synthes), Exactech, Inc., Ony Biotech Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd.
By Region
Asia-Pacific region would exhibit the highest CAGR of 10.8% during 2021-2030.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global plasma therapy market along with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing plasma therapy market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the application and products the market used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the plasma therapy market.
Plasma Therapy Market Report Highlights
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Analyst Review
The plasma therapy market growth includes increase in technological advancements and utilization of plasma therapy in various life-threatening diseases, which is anticipated to boost growth of the global plasma therapy market in the next few years. Moreover, rise in demand for plasma therapy in surgery of orthopedic and other treatments propels the market growth. Increase in developments of plasma therapies for different types of diseases and increase in blood donations propel the market growth.
Furthermore, the plasma therapy market is dominated by North America, owing to increase in research and developments made by government and private sectors. Asia-Pacific is also set to have a considerable growth, owing to increase in population and rise in awareness for blood donation. Increase in number of hospitals and clinics and presence of advanced plasma therapies propels the market growth.
The total market value of Plasma Therapy market is $350.21 million in 2020.
The forcast period for Plasma Therapy market is 2021 to 2030
The market value of Plasma Therapy market in 2021 is $334.24 million.
The base year is 2020 in Plasma Therapy market
Top companies such as Arthrex, BTI Biotechnology Institute, Exactech, Inc, Genesis Biologics, Isto Biologics, Johnson & Johnson (DePuy Synthes), MTF Biologics, Regen Lab SA, Terumo Corporation, Zimmer Biomet held a high market position in 2020.
By type, the pure PRP segment is estimated to account for the largest share of the global market in 2020, owing to effective results of pure PRP therapy. Furthermore, rise in funding for health care and increase in use of PRP in hospitals and clinics propels the market. The pure platelet-rich segment is also set to have a healthy growth, owing to increased usage and antimicrobial effects.
Growth of the global plasma therapy market is majorly driven by rise in prevalence of life-threatening diseases, which includes various neurological system disorders such as chronic inflammatory demyelinating polyneuropathy (CIPD), idiopathic thrombocytopenic purpura (ITP), and multifocal motor neuropathy (MMN). In addition, rise in occurrence of contagious diseases such as hepatitis A&B, tetanus, and rabies is estimated to impact the market positively during the forecast period.
North America is projected to account for a major share of the global plasma therapy market during the forecast period. The market in the region is anticipated to grow in the future, owing to rise in research and developments made by government and private sectors. Asia-Pacific is also set to have a considerable growth, owing to increase in population and rise in awareness for blood donation. Increase in number of hospitals and clinics and presence of advanced plasma therapies propels the market growth.
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