Major players in the plasma therapy market are Takeda Pharmaceutical Company Limited, Bio Products Laboratory Ltd. , Arthrex, Inc. , Biotest AG, China Biologic Products Holdings, Inc. , DePuy Synthes Companies, CSL Limited, Grifols, S.
New York, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plasma Therapy Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151665/?utm_source=GNW
A., Octapharma, and Terumo BCT Inc.
The global plasma therapy market is expected to grow from $0.23 billion in 2020 to $0.25 billion in 2021 at a compound annual growth rate (CAGR) of 8.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.32 billion in 2025 at a CAGR of 6%.
The plasma therapy market consists of revenues generated by the companies that are engaged in selling and manufacturing plasma therapy products and related services.Plasma therapy is a technique where high concentrations of plasma are transfused or injected to patients to facilitate the healing process.
Plasma therapy is frequently used for facial rejuvenation, androgenetic alopecia, and wound healing among others.
The plasma therapy market covered in this report is segmented by type into pure PRP, leukocyte-rich PRP, pure platelet-rich fibrin (PRF), leukocyte-rich fibrin (L-PRF) and by application into orthopaedics, arthritis, chronic tendinitis, bone repair & regeneration, dermatology, androgenic alopecia, plastic surgery, dental, cardiac muscle injury, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost of plasma therapy is expected to hinder the market.The major reason contributing to the high cost is due to the extraction and storage.
The procedure of separating plasma and blood cells from the blood is called Plasmapheresis.The cost of plasmapheresis is approximately $5,000 to $10,000 in the United States.
Average platelet-rich plasma orthopaedic treatment cost ranges from $350 to $1,050 for a single sitting and it may require 2 to 3 settings for the treatment to be effective. The high cost of plasma therapy hinders many patients to access the treatment thereby impacting the market negatively.
In August 2018, Grifols S.A., a leading manufacturer of plasma-derived medicines based in Spain, announced the acquisition of Biotest US for an amount of $286 million. Through this acquisition, Grifols S.A. is expected to gain access to 22 plasma collections centers of Biotest in the USA and give Biotest the access to the quality supply of raw materials and help patients relying on plasma-based therapies. Biotest U.S. is a geographical unit of Biotech AG based in Germany, which collects plasma for producing critical-care therapies used in different therapeutic areas. Biotest is a biotechnology pharmaceutical company founded in 1946. The company is engaged in supplying plasma protein products and biotherapeutic drugs.
The rising prevalence of osteoarthritis is expected to drive the plasma therapy market during the forecast period.Platelet-rich plasma (PRP), a type of plasma therapy, is considered a safe and efficient treatment for osteoarthritis.
Platelet-rich plasma (PRP) is a concentrated autologous blood growth factor, which is injected on to the joint to provide symptomatic relief by decreasing the inflammation and slows the progression of osteoarthritis. According to the Centres for Disease Control and Prevention (CDC), around 32.5 million people in the USA are suffering from osteoarthritis in 2019. Therefore, an increase in the prevalence of osteoarthritis is expected to drive the plasma therapy market.
Convalescent plasma therapy, to treat patients suffering from COVID-19 is a leading trend in the plasma therapy market.Convalescent plasma is the plasma extracted from the individuals who have been cured of a particular viral infection, as they have antibodies that protect and make them immune to that particular organism.
The convalescent plasma is transfused to the patient who is suffering from the viral infection to neutralize the viral infection and induce the active immune response to cure the infection.Convalescent plasma therapy is found to be a safe treatment to cure the patients infected with the coronavirus.
Moreover, this therapy was used to treat other viral infections such as Ebola, Dengue, and SARS- 1 but did not give the desired result.In March 2020, Takeda Pharmaceutical Company Limited has initiated a plasma-therapy, Anti-SARS-CoV-2 polyclonal hyperimmune globulin (H-IG), which is termed as TAK-888 for treating COVID-19.
The TAK-888 utilizes the plasma collected from convalescent donors who have been cured of COVID-19 and is administered to the patient suffering from COVID-19.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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