Plasma Therapy Market Size & Share to Surpass $653.5 Billion by 2030 | Vantage Market Research
WASHINGTON, Sept. 04, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Global Plasma Therapy Market has steadily grown over the years due to its potential to treat various medical conditions, such as arthritis, chronic pain, and sports injuries. The therapy involves using a patient's blood plasma, rich in growth factors to promote healing and reduce inflammation.According to Vantage Market Research, the global Plasma Therapy Market is estimated to be valued at USD 653.5 billion by 2030 and is expected to exhibit a CAGR of 14.1% from 2023 to 2030. The global Plasma Therapy Market will grow to USD 359.8 billion in 2022.
A person recovering or convalescing from an illness, injury, infection, surgery, procedure, therapy, treatment, or any other health situation is referred to as convalescent. Convalescence is the term for the healing process. Such a person's plasma is filled with antibodies the body produces to fight the relevant pathogen (virus or bacteria). Interestingly, these antibodies can be extracted from a recovering patient and injected into the blood of someone else with the same infection. Due to various factors, the latter's body might not be able to produce enough antibodies to combat the infection effectively. Therefore, this person's immunity is increased by taking antibodies from a different person who has successfully treated the infection and injecting them here. This procedure is called Plasma Therapy.
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*Key Highlights*
· The pure PRP segment is estimated to account for the largest share of the global Plasma Therapy market in 2023.
· In 2022, the Hospital segment contributed more than 46% of the total revenue.
· The North American Plasma Therapy market held over 42.9% revenue share in 2022.Plasma Therapy has been used successfully to treat various viral diseases, including the H1N1 flu and Ebola. Its most recent use was in the fight against COVID-19. Recent research has, however, looked at new implementation options. A promising use for plasma from healthy people is in treating autoimmune disorders, where it may help control the disproportionate immune response. Plasma Therapy is also being researched for possible application in organ transplantation as it may help to lower graft rejections and lessen the need for immunosuppressive medications. These cutting-edge uses highlight Plasma Therapy's adaptability and potential beyond its conventional applications.
*Top Companies in The Global Plasma Therapy Market*
· Cambryn Biologics LLC (U.S.)
· BioLife Plasma Services (U.S.)
· CSL Ltd. (Australia)
· Biotest Pharmaceuticals (Germany)
· Kedrion S. P. A. (Italy)
· Grifols International S.A. (Spain)
· China Biologic Products Inc. (China)
· LFB Plasma (U.S.)
· Octapharma Plasma Inc. (Switzerland)*To Know an Additional List of Key Players, Request Here to Download a Free Report PDF Brochure: *https://www.vantagemarketresearch.com/plasma-therapy-market-2256/request-sample
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*Factors Affecting the Growth of the Plasma Therapy Market *
Several factors can affect the growth of the Plasma Therapy Market industry. Some of these factors include:
· Increasing prevalence of chronic diseases: Chronic diseases are becoming more common, and Plasma Therapy is frequently used to treat them, including cancer, autoimmune conditions, and blood-related illnesses. The demand for Plasma Therapy is anticipated to increase due to these diseases' increasing prevalence across the globe.
· Growing geriatric population: The elderly population is more prone to age-related illnesses and chronic diseases. The demand for Plasma Therapy is likely to increase as the world's elderly population keeps growing.
· Technological developments: Plasma Therapy is now much more effective and safer thanks to improvements in plasma separation methods and plasma-derived products. It is anticipated that ongoing research and development in this area will fuel market expansion.
· Raising awareness among patients and healthcare workers: The market is expanding as a result of patients and healthcare professionals becoming more knowledgeable about the advantages of Plasma Therapy. Furthermore, the accessibility of educational initiatives and online sources is advancing the understanding of Plasma Therapy.
· Favourable reimbursement policies: The market is expanding due to the availability of insurance coverage and favorable healthcare reimbursement policies for Plasma Therapy procedures. This increases demand by enabling patients to access these procedures without financial hardship.*Top Trends in the Global Plasma Therapy Market *
Recent years have seen significant advancements in Plasma Therapy, a medical procedure that uses a patient's blood to promote healing and regeneration. One significant trend is that point-of-care devices allow doctors to administer Plasma Therapy outside of the hospital. This innovation has sped up treatment turnaround time and increased patient accessibility. Another recent development is integrating Plasma Therapy with other medical specialties, like dermatology and dentistry. This method holds out the possibility of improved efficacy because individual treatment plans are made to address particular medical conditions. Furthermore, ongoing studies investigate Plasma Therapy's potential for treating neurodegenerative illnesses, demonstrating the treatment's adaptability to various medical conditions.
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*Recent Development of the Global Plasma Therapy Market *
· March 23, 2023, the construction of a new facility for plasma-derived therapies was funded by Takeda's largest manufacturing capacity expansion investment in Japan; Takeda intends to construct a brand-new manufacturing facility for plasma-derived therapies (PDTs) in Osaka, Japan, with an estimated £600 million in investment.
· September 8, 2022, to supply consistent, high-quality cellular starting material for use in the production of life-saving cellular therapies, Cryoport, Inc., a leader in temperature-controlled supply chain solutions for the life sciences industry, today announced it has entered into a strategic partnership with BioLife Plasma Services, a division of the multinational biopharmaceutical company Takeda.
· November 15, 2022, with an investment of Tk 5,000 crore, the Chinese company Sinovac Biotech, which manufactures the COVID-19 vaccine, will begin manufacturing Plasma-Derived Medical Products (PDMP) in Bangladesh.*Market Drivers*
Factors favorably influencing the growth of the Plasma Therapy Market are the rising incidence of chronic diseases and the spike in demand for safe and efficient treatment options. Medical professionals are turning to Plasma Therapy as a feasible treatment option due to the increased number of patients suffering from autoimmune illnesses, infectious diseases, and cancer. Technology developments have also sparked the creation of novel treatments and goods, further fueling the market's expansion.
*Market Restraints*
Numerous obstacles could prevent the growth and adoption of the Plasma Therapy market. There is a lack of standardized guidelines and regulations, insufficient clinical evidence for the therapy's efficacy, limited awareness and understanding of the therapy among medical professionals and patients, high equipment and treatment costs, and difficulties locating high-quality plasma. There may also be safety issues like the chance of infection transmission and allergic reactions. These obstacles must be removed for Plasma Therapy to be widely accepted and commercial success.
*Market Opportunities*
Future plasma technology offers a wide range of fascinating opportunities for various industries. The creation of plasma-based waste management systems is one distinct and exciting area. Waste materials can be broken down into non-toxic components using plasma torches, reaching temperatures higher than the sun’s surface. This offers a sustainable way to dispose of waste. In the fusion energy research field, where researchers use plasma reactions to produce clean, abundant energy, another intriguing opportunity has emerged. Additionally, plasma medicine is a young field investigating the therapeutic potential of cold plasma in treating different diseases. These ground-breaking uses demonstrate the enormous potential of plasma technology to revolutionize energy generation, waste management, and healthcare soon.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Plasma Therapy Market Forecast Report (2023-2030).
*Report Segmentation of the Global Plasma Therapy Market *
*Type Analysis*
Pure PRP (Platelet Rich Plasma) Therapy is the most popular category within the type segment of the Plasma Therapy market. In order to administer this treatment, the patient's blood must be drawn, processed to concentrate the platelets, and then platelet-rich plasma must be injected into the affected area. For a variety of conditions, such as orthopedic injuries, sports-related injuries, and dermatology treatments, pure PRP therapy is frequently used. Its use in the management of chronic tendinopathies like tennis elbow and Achilles tendonitis are two examples. Pure PRP Therapy improves the patient's symptoms, promotes healing, and lowers inflammation by injecting concentrated platelets into the injured tendon. The most well-liked and thoroughly studied subset of Plasma Therapy is this one. Several medical specialties currently employ platelet-rich plasma (PRP). PRP's use in dermatology has recently attracted more attention. It is used for a variety of purposes, including alopecia, skin rejuvenation, scar revision, wound healing, and tissue regeneration. A portion of the plasma fraction of autologous blood with a platelet concentration above the reference level is referred to as PRP, a biological product.
*Source Analysis*
In the source segment of the Plasma Therapy market, the autologous category predominates over the allogenic category. Using the patient's blood plasma to create therapeutic substances that are then injected back into the patient to treat various medical conditions is known as autologous Plasma Therapy. Due to its many benefits, which include a lower risk of infections and adverse reactions because the patient is receiving their plasma, this category is favored. It also removes the requirement for finding a compatible donor and any potential drawbacks of allogeneic therapy. Platelet-Rich Plasma (PRP) therapy, which uses concentrated platelets from the patient's blood to encourage tissue healing and regeneration, illustrates autologous Plasma Therapy.
*Application Analysis*
Orthopedics is likely the most popular application segment in the Plasma Therapy market. This is because platelet-rich plasma (PRP) therapy, also known as Plasma Therapy, has become widely used to treat orthopedic conditions like arthritis, chronic pain, and sports injuries. PRP is made from the patient's own blood and has high levels of proteins and growth factors that promote tissue repair and regeneration. Numerous clinical studies and the use of PRP therapy in orthopedics by eminent orthopedic specialists worldwide have all supported its efficacy and safety profile. As a result, the orthopedics sector is anticipated to significantly fuel market growth for Plasma Therapy.
*End-User Analysis*
Hospitals have become the predominant category due to their extensive infrastructure and accessibility to qualified healthcare professionals. Hospitals are popular for administering Plasma Therapy because they offer various healthcare services and frequently have cutting-edge Plasma Therapy equipment. Hospital Plasma Therapy has been the subject of in-depth research, which has improved treatment protocols and raised its standing among medical professionals. As an illustration, the Mayo Clinic, a renowned hospital and research facility in the United States, has been actively conducting clinical trials and research on the potential advantages of Plasma Therapy in several conditions, including COVID-19, autoimmune diseases, and wound healing. Hospitals and research institutions that take such initiatives greatly aid in expanding and developing the Plasma Therapy market.
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*Market Segmentation*
*By Type*
· Pure PRP (Platelet Rich Plasma) Therapy
· Leukocyte-rich PRP
· Pure Platelet-rich Fibrin (PRF) Therapy
· Leukocyte and Platelet-rich Fibrin (L-PRF) Therapy
· Hyperbaric Oxygen Therapy (HBOT)
· Combined Plasma Therapy with Stem Cells
· Other Types*By Source*
· Allogenic
· Autologous
*By Application*
· Hematology
· Neurology
· Immunology
· Dental
· Orthopedics
· Dermatology
· Other Applications*By End-User*
· Hospitals
· Clinics
· Ambulatory Surgical Centers
· Research Institutes
· Other End-Users*By Region*
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa*Scope of the Report: *
*Report Attributes* *Details*
Market Size in 2022 USD 359.8 Billion
Revenue Forecast by 2030 USD 653.5 Billion
CAGR 13.9% from 2023 to 2030
Base Year 2022
Forecast Year 2023 to 2030
Key Players Cambryn Biologics LLC, BioLife Plasma Services, CSL Ltd., Biotest Pharmaceuticals, Kedrion S. P. A., Grifols International S.A., China Biologic Products Inc., LFB Plasma, Octapharma Plasma Inc.
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*Regional Analysis*
Plasma Therapy has recently gained a lot of momentum across various geographic areas. North America dominates the market for Plasma Therapy because of its developed healthcare system, rising patient awareness, and favorable reimbursement policies. For instance, by actively promoting plasma donation through its plasma donor centers, the American Red Cross has helped to expand the market. At the same time, Europe has seen significant advancements in Plasma Therapy thanks to the development of cutting-edge PRP tools and applications. The European Medicines Agency (EMA) has played a critical role in regulation to ensure the safety and effectiveness of Plasma Therapy-related products. Plasma Therapy quickly expands in Asia Pacific, thanks to a sizable patient population and rising disposable income. Examples of these nations include China and India. Regulatory bodies in various regions have actively monitored Plasma Therapy use to ensure compliance with safety and quality standards, promoting market growth globally.
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Autologous Cell Therapy Product Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/autologous-cell-therapy-product-market-1298
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