Plasma Therapy Market Expected to Reach $0.69 Billion by 2030

According to a new report published by Allied Market Research, titled, “Plasma Therapy Market by type, application, and end user: global opportunity analysis and industry forecast, 2021–2030," the global plasma therapy market size was valued at $0.35 billion in 2020 and is projected to reach $0.69 billion by 2030 registering a CAGR of 8.50% from 2021 to 2030.

Plasma therapy is used for treatment of many disorders such as hair loss, tendon injuries, acute injuries, post-surgical repair, and osteoarthritis and currently for treatment of COVID–19. Furthermore, several manufacturers are initiating plasma processing to tackle the spread of coronavirus across the world. Therefore, the global plasma therapy market is expected to witness significant growth during the forecast period.

Rise in prevalence of life-threatening diseases, which include 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. Furthermore, geriatric population suffers from various diseases and is more prone to infectious diseases due to weak immunity. This is expected to increase demand for plasma therapy, which, in turn, 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 market in the coming years.

The global plasma therapy market segmented on the basis of type, source, type, and region. On the basis of type, it is further classified into platelet-rich plasma (PRP), pure platelet-rich fibrin, and leukocyte-rich fibrin. By source, it is divided into autologous and allogenic. On the basis of type, it is categorized orthopedic, dermatology and cardiac muscle injury. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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.

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.

Key Findings Of The Study

• Based on type, the pure platelet-rich plasma segment held largest share in the global plasma therapy market in 2020.
• On the basis of application, the orthopedics held largest market share in 2020 and is expected to remain dominant throughout the forecast period.
• On the basis of end user, the hospitals held largest market share in 2020 and is expected to remain dominant throughout the forecast period.
• Based on region, North America is expected to experience growth at the highest rate, registering a CAGR of 7.20 % 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 the increase in research and developments made by government and private sectors. Asia-Pacific is also set to have a considerable growth, owing to increased population and rise in awareness for blood donation. Increase in number of hospitals & clinics and presence of advanced plasma therapies propel the market during the forecast period.