Major players in the convalescent plasma therapy market are Bio Farma, Grifols, Hilton Pharma, Biotest, BPL, LFB, Octapharma, CSL Behring, Takeda Pharmaceutical Company Limited, and Orthosera Kft.
New York, July 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Convalescent Plasma Therapy Global Market Report 2020-30: Covid 19 Implications and Growth" - https://www.reportlinker.com/p05932636/?utm_source=GNW
The global convalescent plasma therapy market is expected to grow from $20.3 million in 2019 to $26.4 million by the end of 2020 at a compound annual growth rate (CAGR) of 30.2%. The growth is mainly attributed to the COVID-19 outbreak and the urgent need to treat the growing number of cases. The use of convalescent plasma collected from individuals who have recovered from COVID-19 is one investigational treatment being explored for COVID-19. The market is then expected to stabilize and reach 39.6 million in 2023 at a CAGR of 14.4%.
The convalescent plasma therapy market consists of sales of convalescent plasma obtained from patients who have recovered from an infection. Convalescent plasma is the plasma collected from the recovered or convalesced people consisting of the antibodies against the infection causing microorganism. The revenue generated by the market includes the sales of convalescent plasma collected from people post-infection, which will be utilized for prophylaxis and treatment of infected patients with the respective microorganism. The companies engaged in the convalescent plasma market are primarily engaged in the collection and processing of convalesced plasma for the utilization by research institutes, laboratories, hospitals and clinics.
North America is anticipated to be the largest region in the global convalescent plasma therapy market by the end of 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period.
In March 2020, Grifols, a Spain-based multinational pharmaceutical and chemical manufacturer that develops, produces, and markets innovative solutions under divisions - Bioscience, Diagnostic, Hospital and Bio Supplies, announced its collaboration with the United States Biomedical Advanced Research Development Authority (BARDA), the Food and Drug Administration (FDA) and other Federal public health agencies. Under this collaboration, Grifols will collect plasma from FDA approved plasma collection centers to develop a hyperimmune globulin as a treatment option for COVID-19 patients and will support the convalescent plasma therapy approach by providing inactivated plasma for transfusion using viral inactivation technology (methylene blue). FDA is a federal agency and BARDA is an authority of the United States Department of Health and Human Services that protects public health through the transition of medical products like vaccines, biopharmaceuticals, pharmaceuticals, and others from research to FDA approval for the public use.
The convalescent plasma therapy market covered in this report is segmented by application into prophylaxis; treatment. It is also segmented by end-users into hospitals & clinics; laboratories & research institutes and by antibody type into IgM; IgG; IgA.
The availability of scant evidence regarding the safety and efficacy of convalescent plasma therapy led to strict guidelines by government authorities. Different government authorities like the US FDA, CDSCO of India and others have approved COVID-19 convalescent plasma for investigational use only and not for prescribed indication. In May 2020, FDA released guidelines for COVID-19 convalescent plasma therapy, which stated that the administration of COVID-19 convalescent plasma must be under the investigational new drug application (IND) for clinical trials, expanded access and single-patient emergency only. Even for a single patient emergency, an eIND must be filed with FDA for the use of convalescent plasma therapy, provided, the health care provider must determine that the probable risk from the investigational drug is not greater than the probable risk from the disease or condition. COVID-19 convalescent plasma should be obtained from an FDA-registered blood establishment that follows the donor eligibility criteria and donor qualifications. The manufacturing process and shelf life should be the same as that of other similar plasma products. These strict guidelines framed by authorities are expected to limit the market growth.
The development of antibody-based immunotherapy as a potential therapeutic intervention for COVID-19 shows opportunities for the convalescent plasma therapy market. Convalescent plasma therapy utilizes the antibodies produced against coronavirus by the donor to improve the immunity of the recipient. Companies are initiating trials, collaborating and investing for antibody-based COVID-19 therapy. In April 2020, GSK entered into a collaboration with Vir Biotechnology and invested $250 million in Vir to support the development of anti-viral antibody-based solutions against novel coronavirus. In April 2020, Biomedical Advanced Research Development Authority (BARDA) partnered with Emergent BioSolutions to fund $14.5 million to support the development of human plasma-derived therapy which is COVID-Human Immune Globulin (COVID-HIG) for treating COVID-19 in severe hospitalized and high-risk patients. In April 2020, global plasma companies like CSL Behring, Takeda Pharmaceutical Company Limited, Biotest, BPL, LFB, and Octapharma collaborated to develop plasma-derived COVID-19 Hyperimmune Therapy. As convalescent plasma therapy utilizes antibodies, the focus over antibody-based COVID-19 therapy is expected to boost the market growth.
Higher efficacy and safety evaluated during the trials conducted for CPT in COVID-19 patients can drive the market growth during the forecast period. Convalescent plasma transfusion has been of interest in the historical period for the treatment of other infectious disease outbreaks such as SARS?1, Middle East Respiratory Syndrome (MERS), and 2009 H1N1. In June 2020, results of a study conducted by the Houston Methodist hospital, which aimed at evaluating safety and efficacy of COVID-19 convalescent plasma therapy, stated that the convalescent plasma therapy is safe with no adverse events reported and is efficient with 76% recovery rate. In May 2020, a study published in the Journal of Medical Virology stated that with convalescent plasma therapy, the mortality rate may be reduced in critically ill patients, beneficial effects on clinical symptoms will be observed, and an increase in neutralizing antibody titers and disappearance of SARS?CoV?2 RNA will be observed. The safety and efficacy of the convalescent plasma therapy in COVID-19 patients will boost market growth.
Read the full report: https://www.reportlinker.com/p05932636/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001