PORTLAND, Ore., Sept. 16, 2020
- Rise in geriatric population across the world, increase in prevalence of rare diseases, surge in use of immunoglobulin & emergence of plasma collection centers in different countries fuel the growth of plasma fractionation market
PORTLAND, Ore., Sept. 16, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Plasma Fractionation Market by Product (Albumin, Immunoglobulin, Coagulation Factor VIII and Coagulation Factor IX), Sector (Public Sector and Private Sector): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global plasma fractionation industry was estimated at $18.22 billion in 2019, and is expected to hit $23.00 billion by 2027, registering a CAGR of 6.2% from 2020 to 2027.
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Drivers, restraints, and opportunities-
Rise in geriatric population across the world, increase in the prevalence of rare diseases, surge in use of immunoglobulins in medicine, and emergence of plasma collection centers in different countries fuel the growth of the global plasma fractionation market. At the same time, high cost of plasma derived products impedes the growth to some extent. Nevertheless, high growth potential in emerging economies is expected to create lucrative opportunities in the industry.
The immunoglobulin segment to dominate by 2027-
Based on product, the immunoglobulin segment contributed to more than two-thirds of the global plasma fractionation market share in 2019 and is expected to retain its dominance during the study period, owing to the diversified use of immunoglobulin in various disorders such as primary and secondary immune deficiencies, autoimmune diseases, and inflammatory diseases. The albumin segment, on the other hand, would register the fastest CAGR of 6.7% till 2027, due to surge in the number of surgical procedures which demand the use of albumin.
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The private sector segment to lead the trail-
Based on sector, the private sector accounted for more than three-fifths of the global plasma fractionation market revenue in 2019 and is projected to rule the roost throughout the forecast period. The same sector would also grow at the fastest CAGR of 6.3% by the end of 2027. This is attributed to the fact that there is a huge presence of private players operating in the plasma fractionation industry that collect and fractionate larger amount of plasma as compared to public sector.
Canada had the major share in 2019-
Based on geography, Canada held the largest share, garnering 0.03% of the global plasma fractionation market. At the same time, Taiwan would portray the fastest CAGR of 9.0% by 2027. This is due to the factors such as surge in adoption of plasma fractionation derivatives, and rise in healthcare expenditure.
Frontrunners in the industry-
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