Convalescent Plasma Therapy Global Market Report 2023
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, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Convalescent Plasma Therapy Global Market Report 2023" - https://www.reportlinker.com/p06229176/?utm_source=GNW
The global convalescent plasma therapy market will grow from $0.04 billion in 2022 to $0.05 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The convalescent plasma therapy market is expected to grow from $0.07 billion in 2027 at a CAGR of 12.0%.
The convalescent plasma therapy market includes revenue earned by IgD and IgE.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Convalescent plasma is the plasma collected from the recovered or convalesced people consisting of antibodies against the infection-causing microorganism. It is used for treatment of patients infected by respective pathogen.
North America was the largest region in the convalescent plasma therapy market in 2022.Western Europe was the second largest region in the convalescent plasma therapy market.
The regions covered in the convalescent plasma therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main antibody types of convalescent plasma therapy are IgM, IgG, and IgA.Immunoglobulin A (IgA) is an antibody that is essential for mucous membrane immunological activity.
The different applications include prophylaxis, and treatment and are used in various sectors such as hospitals and clinics, laboratories, and research institutes.
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.
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 $14.5 million to support the development of human plasma-derived therapy which is COVID-Human Immune Globulin (COVID-HIG) for treating COVID-19 in severe hospitalized and high-risk patients. In April 2020, global plasma companies like CSL Behring, Takeda Pharmaceutical Company Limited, Biotest, BPL, LFB, and Octapharma collaborated to develop plasma-derived COVID-19 Hyperimmune Therapy. As convalescent plasma therapy utilizes antibodies, the focus over antibody-based COVID-19 therapy is expected to boost the market growth.
In March 2020, Grifols, a Spain-based multinational pharmaceutical and chemical manufacturer that develops, produces, and markets innovative solutions under divisions - Bioscience, Diagnostic, Hospital and Bio Supplies, announced its collaboration with the United States Biomedical Advanced Research Development Authority (BARDA), the Food and Drug Administration (FDA) and other Federal public health agencies.Under this collaboration, Grifols will collect plasma from FDA-approved plasma collection centres to develop a hyperimmune globulin as a treatment option for COVID-19 patients and will support the convalescent plasma therapy approach by providing inactivated plasma for transfusion using viral inactivation technology (methylene blue).
FDA is a federal agency and BARDA is an authority of the United States Department of Health and Human Services that protects public health through the transition of medical products like vaccines, biopharmaceuticals, pharmaceuticals, and others from research to FDA approval for public use.
The countries covered in the convalescent plasma therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The convalescent plasma therapy market research report is one of a series of new reports that provides convalescent plasma therapy market statistics, including convalescent plasma therapy industry global market size, regional shares, competitors with a convalescent plasma therapy market share, detailed convalescent plasma therapy market segments, market trends and opportunities, and any further data you may need to thrive in the convalescent plasma therapy industry. This convalescent plasma therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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