In terms of revenue, the Global Plasma Therapy Market is expected to reach by 2030, growing at a CAGR of 13.9% from 2023 to 2030.
The growth of the Plasma Therapy market can be attributed to several factors. The rising incidence of chronic illnesses, including cancer, autoimmune conditions, and infections, which need cutting-edge treatment alternatives, is one of the main contributors. Another aspect is developing technologies for plasma collection and processing, which facilitate the distribution of plasma-based goods. Additionally, rising R&D expenditures by pharmaceutical and biotech firms are advancing Plasma Therapy innovation and broadening the scope of disorders that can be treated. The success of Plasma Therapy has also been supported by several clinical trials and research investigations, increasing the demand for Plasma Therapy products. The COVID-19 pandemic has also resulted in a marked rise in the demand for plasma-based products, particularly for treating critically ill patients with severe respiratory symptoms.
Key Highlights from the Report
. Based on Type, the PRP (Platelet Rich Plasma) sector dominates the market for Plasma Therapy. As a result of the therapeutic advantages it offers for wound healing, tissue regeneration, and aesthetics, this market is predicted to increase significantly.
. Based on Source, autologous plasma is the primary source for Plasma Therapy and is the market leader in this area. Because it is made from the patient's blood, autologous plasma is safer and more beneficial for medical use. Growth is anticipated because of this market's great efficacy and low infection risk.
. Based on Application, the orthopedic segment, which uses platelet-rich plasma to treat musculoskeletal diseases such as osteoarthritis, tendon injuries, and ligament sprains, is the market leader in plasma treatment. Given the rise in orthopedic problems, this market is predicted to expand.
. Based on End-User, the Plasma Therapy Market is dominated by the hospitals and clinics sector since Plasma Therapy treatment calls for highly trained personnel and specialized tools. In addition, hospitals and clinics offer a safe and regulated setting for the therapy, making them appropriate for patients with serious diseases. This market is anticipated to expand because of the growing number of hospitals and clinics around the world.
. In terms of region, North America is expected to be the dominating region in Plasma Therapy market during the projected period, due to the rising prevalence of chronic diseases and the expanding use of Plasma Therapy by medical professionals in the area. Due to a huge patient population and expanding healthcare infrastructure, the Plasma Therapy Market is also anticipated to rise significantly in Asia.
Throughout the projected period, the market for Plasma Therapy is anticipated to expand significantly. The increased prevalence of chronic diseases, which necessitate effective treatment choices, is one of the main growth factors of this market. Additionally, the market is expected to rise due to technological improvements and the rising frequency of neurological and autoimmune conditions. Further predicted market growth results from leading players increasing their R&D spending to provide cutting-edge goods and solutions. A significant factor in the market's overall growth is the ongoing COVID-19 pandemic, which has increased demand for Plasma Therapy.
The rising demand for autologous Plasma Therapy due to the lower risk of disease transmission is one of the noticeable trends in the Plasma Therapy Market. The market is also expected to increase due to the expanding trend of stem cell therapy for cancer treatment and tissue regeneration. However, a significant barrier to the market's expansion is the high price of Plasma Therapy and the tight regulatory requirements that go along with it.
The market is anticipated to see new growth prospects due to the rising public awareness of the advantages of Plasma Therapy and the rising number of clinical trials in the coming years. The growing acceptance of personalized therapy and regenerative medicine is also anticipated to expand the market. The Asia Pacific area is anticipated to experience significant expansion, mostly due to expanding investments by prominent market participants and a rise in the region's demand for cutting-edge healthcare goods and services.
North America dominated the overall Plasma Therapy market in 2022, North America Plasma Therapy Market is estimated to be the most dominant region during the projected period due to the region's burgeoning geriatric and chronic illness populations. More than 50% of American people, including those with diabetes, heart disease, and cancer, have at least one chronic health condition, according to the Centres for Disease Control and Prevention. These illnesses are commonly treated with plasma treatment, which promotes market expansion in North America. Additionally, there is a strong demand for plasma-derived products in the area due to their widespread usage in the production of vaccines, coagulation factors, and treatments for a variety of immunological disorders. These elements have helped North America to dominate the Plasma Therapy Market.
The Global Plasma Therapy Market is Segmented as follows
- Pure PRP
- Leukocyte-Rich PRP
- Pure Platelet-Rich Fibrin
- Leukocyte-Rich Fibrin
- Hyperbaric Oxygen Therapy (HBOT)
- Combined Plasma Therapy with Stem Cells
- Other Types
- Other Applications
- End User
- Ambulatory Surgical Centers
- Research Institutes
- Other End-Users
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Latin America
A list of the Key Players of the Global Plasma Therapy Market is
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)
The Global Plasma Therapy Market Scope can be Tabulated below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|