Increase in geriatric population, rise in prevalence of rare diseases, surge in number of plasma collection centers in the majority of countries, and upsurge in the number of androgenic alopecia patients across the world drive the growth of the global plasma therapy market
PORTLAND, Ore., Oct. 6, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Plasma Therapy Market by Type (Pure Platelet-Rich Plasma, Leukocyte-Rich PRP, Pure Platelet-Rich Fibrin, and Leukocyte-Rich Fibrin), Application (Orthopedics, Dermatology, Dentistry, and Others), and End User (Hospitals, Dermatology Clinics, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global plasma therapy industry was estimated at $350.21 million in 2020, and is anticipated to hit $698.46 million by 2030, registering a CAGR of 8.50% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Increase in geriatric population, rise in prevalence of rare diseases, surge in number of plasma collection centers in the majority of countries, and upsurge in the number of androgenic alopecia patients across the world drive the growth of the global plasma therapy market. On the other hand, high cost of plasma derived products impedes the growth to some extent. However, high growth potential in the emerging economies has been highly beneficial for the market growth.
COVID-19 scenario-
- Plasma from the blood of a patient who recovered from the COVID-19 is used for treatment of another patient suffering from COVID-19. Convalescent plasma can potentially develop as an effective treatment option to battle against the pandemic. This way, increase in demand for plasma derived immunoglobulins has driven the market growth of the plasma therapy market.
- This trend is quite likely to continue till the pandemic is completely gone.
The pure platelet rich plasma segment to retain the lion's share-
On the basis of type, the pure platelet rich plasma segment held the major share in 2020, garnering nearly three-fifths of the global plasma therapy market. The same segment is projected to cite the fastest CAGR of 9.6% throughout the forecast period, owing to effective results of pure PRP therapies.
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The orthopedics segment to dominate by 2030-
On the basis of application, the orthopedics segment contributed to the lion's share in 2020, holding nearly half of the global plasma therapy market, owing to increase in occurrences of orthopedic disorders such as arthritis and rise in healthcare expenditure among individuals. The same segment is also projected to manifest the fastest CAGR of 9.7% from 2021 to 2030.
North America held the major share in 2020-
By region, the market across North America dominated in 2020, garnering more than two-fifths of the global plasma therapy market, due to rise in research and developments made by government and private sectors propels the market growth in this region. Simultaneously, the Asia-Pacific region is expected to cite the fastest CAGR of 10.8% throughout the forecast period. Growing population and rise in awareness of blood donation among individuals in this region drive the market growth.
Key players in the industry-
- Regen Lab SA
- Zimmer Biomet
- MTF Biologics
- Arthrex
- Terumo Corporation
- Exactech, Inc.
- Ony Biotech Inc.
- Johnson & Johnson (DePuy Synthes)
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
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