Colloids (Blood Plasma) Market

Market Overview

The global colloids (blood plasma) market was valued at USD 3.32 billion in 2023. It is estimated to reach USD 5.28 billion by 2032, growing at a CAGR of 5.3% during the forecast period (2024–2032). The surging chronic disease cases drive the global colloids (blood plasma) market growth due to aging populations, sedentary lifestyles, and changing dietary habits. The growing number of surgeries worldwide is estimated to drive the global market growth as volume replacement is necessary to maintain blood pressure and circulation. Moreover, the market players in the industry are innovating and launching novel colloid (blood plasma) products, which is expected to provide opportunities for market expansion.

Colloids refer to substances dispersed evenly in another substance. In the context of blood plasma, colloids are primarily proteins such as albumin, globulins, and fibrinogen. These proteins contribute to the osmotic pressure of blood, helping to maintain fluid balance between blood vessels and tissues. Albumin, the most abundant plasma protein, assists in transporting hormones, fatty acids, and drugs, while globulins play a critical role in immune function by carrying antibodies.

Fibrinogen is essential for blood clotting, forming fibrin threads that help to staunch bleeding. Colloids in blood plasma are vital for maintaining proper circulation and ensuring efficient transport of nutrients, gases, and waste products throughout the body. Imbalances in colloid concentrations can lead to various health issues, including edema, impaired wound healing, and compromised immunity.

Highlights

• North America is estimated to hold the largest colloids (blood plasma) market share

Market Dynamics

Global Colloids (Blood Plasma) Market Drivers:

Prevalence of Chronic Diseases

The prevalence of chronic diseases significantly influences the colloids market for blood plasma products. Chronic conditions like cardiovascular diseases, kidney disorders, and liver ailments often lead to complications that require volume expansion and stabilization through colloids. Patients with these conditions may experience fluid imbalances, hypovolemia, or compromised circulation, necessitating plasma volume expanders. As the global burden of chronic illness continues to rise due to factors like the aging population, sedentary lifestyles, and changing dietary habits, the demand for colloids in managing these conditions is expected to increase.

For instance, according to WHO, Chronic diseases kill the lives of 41 million individuals annually, which accounts for approximately 74% of all global deaths. Healthcare systems are under pressure to provide effective interventions for chronic disease management, driving the adoption of colloids as a crucial component of patient care. Consequently, the market for colloids in blood plasma products is shaped by the growing prevalence of chronic diseases and the need for innovative solutions to address associated medical challenges.

Increasing Surgical Procedures 

The increasing number of surgical procedures worldwide propelled the demand for colloids in blood plasma products. Surgeries often require volume replacement to maintain blood pressure and circulation, whether elective or emergency. Colloids are preferred in surgical settings due to their rapid plasma volume expansion capabilities. As surgical interventions become more common across various medical specialties, the need for effective volume expanders like colloids continues to grow, driving the market for blood plasma products containing colloids.

The September 2020 research report titled "Estimation of the National Surgical Needs in India by Enumerating the Surgical Procedures in an Urban Community Under Universal Health Coverage" projected that over 11% of the global disease burden necessitated surgical or anesthetic treatment. Contrary to the worldwide average of 5,000 surgeries per 100,000 individuals, it is projected that the Indian population will need approximately 3,646 surgeries each year. Therefore, the market is expected to expand throughout the projected period due to the rising worldwide demand for surgical procedures.

Global Colloids (Blood Plasma) Market Restraint:

Safety Concerns

Safety concerns in the Colloids (Blood Plasma) market stem from potential risks associated with their use. These include the risk of allergic reactions, transmission of infectious diseases, and adverse effects on patients. Allergies to components within colloid products can lead to severe and sometimes life-threatening reactions in susceptible individuals.

Moreover, transmitting infectious agents, such as viruses or prions, through plasma-derived products poses a significant safety risk despite stringent screening and manufacturing processes. The physiological effects of colloids on patients, including changes in hemodynamics or coagulation, may result in adverse outcomes. Such safety concerns impact patient well-being, erode healthcare provider confidence, and increase regulatory scrutiny. This is estimated to restrict the market expansion.

Global Colloids (Blood Plasma) Market Opportunities:

Product Innovation 

Product innovation and development are crucial in driving the colloid market for blood plasma products. Continuous research efforts lead to the introduction of novel colloids with improved efficacy, safety, and patient outcomes. Innovations such as modified starches, albumin solutions, and synthetic colloids expand the market by offering alternatives with enhanced properties and treatment of various diseases. Further, innovation fosters competition among manufacturers, leading to the development of cost-effective solutions and widening access to colloids, ultimately stimulating market growth and improving patient care.

For instance, in May 2020, Bio Products Laboratory (BPL), a prominent producer of plasma-derived protein therapies, introduced ALBUMINEX 5% (human albumin) solution for injection and ALBUMINEX 25% (human albumin) solution for injection in the US. The products are now readily available for distribution. ALBUMINEX 5% and ALBUMINEX 25% have received approval from the US Food and Drug Administration for the treatment of several conditions, including hypovolemia, ascites, hypoalbuminemia resulting from burns, acute nephrosis, acute respiratory distress syndrome (ARDS), and cardiopulmonary bypass. This is projected to generate opportunities for market expansion.

Regional Analysis

Based on region, the global colloids (blood plasma) market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

North America Dominates the Global Market

North America is the most significant global colloids (blood plasma) market shareholder and is expected to expand substantially during the forecast period. The North American market for colloids (blood plasma) is the largest and most developed owing to several factors. These encompass an advanced healthcare system with cutting-edge medical facilities, equipment, and technology and a significant use of colloids in medical treatments. A large number of patients suffer from various chronic diseases, such as diabetes, cancer, cardiovascular illness, and others, which require surgical interventions. As per the Centers for Disease Control and Prevention (CDC), chronic diseases are the main reason for death and disability in the United States. They also substantially impact the country's annual healthcare expenses, totaling USD 4.1 trillion.

Moreover, forecasts suggest that Americans aged 65 and over will reach 95 million by 2060, a substantial rise from the 52 million reported in 2018. The percentage of people aged 65 and older is predicted to increase from 16% to 23% within the same period. The growing population of elderly people who are very prone to developing chronic illnesses leads to an increase in the number of surgical procedures performed in the region. According to a PubMed article, the United States carries out around 40 to 50 million important surgical procedures annually. Consequently, all these factors are estimated to boost the regional market growth.

Asia-Pacific is projected to experience the highest CAGR due to its significant and expanding population, rising healthcare spending, increasing prevalence of chronic diseases, and improving healthcare infrastructure. According to a publication in PubMed, approximately 21% of the aged population in India is estimated to have at least one chronic illness. Seventeen percent of the senior population in rural areas and 29% in urban areas are afflicted with a chronic illness. Hypertension and diabetes collectively constitute around 68% of the total number of chronic disorders.

Furthermore, the approval of new colloids for use in treating various diseases is anticipated to create opportunities for market growth. For instance, in July 2023, Kedrion Biopharma, a global biopharmaceutical company that focuses on manufacturing and distributing plasma-derived therapeutic products for the treatment of rare and severe diseases, announced that China's National Institutes for Food and Drug Control (NIFDC) had approved for the release of BPL's human Albumin product in the Chinese market.

Segmental Analysis

The global colloids (blood plasma) market is bifurcated into type and application.

Based on type, the global colloids (blood plasma) market is segmented into natural type colloids and synthetic type colloids.

Synthetic colloids are substances introduced into the blood plasma to mimic the colloidal properties of natural plasma components, such as proteins. These colloids are typically large molecules that remain suspended in the plasma, helping to maintain blood volume and pressure. Unlike natural colloids like albumin, synthetic colloids are artificially produced and have varying degrees of effectiveness and safety profiles. Common examples of synthetic colloids include hydroxyethyl starch (HES) and dextran.

These substances have different molecular structures but serve similar purposes in expanding blood volume and enhancing circulation. However, their use has been associated with adverse effects such as impaired coagulation, renal dysfunction, and allergic reactions. Due to these concerns, synthetic colloids have become more scrutinized, with many medical professionals opting for alternative fluids like crystalloids or natural colloids when possible.

Based on the application, the global colloids (blood plasma) market is bifurcated into extensive burns, massive blood or plasma loss, hypovolemic shock, and others.

Colloids, such as blood plasma, are crucial in treating massive blood or plasma loss due to their ability to expand blood volume more effectively than crystalloids (like saline solution). When administered intravenously, colloids exert osmotic pressure, drawing fluid into the bloodstream from surrounding tissues and increasing circulating volume. This can help stabilize blood pressure and maintain organ perfusion, which is vital in critical situations.

Colloids contain proteins like albumin, which help maintain oncotic pressure, preventing fluid from leaking out of blood vessels into tissues. This characteristic is particularly beneficial in cases of severe hemorrhage or trauma where rapid restoration of blood volume is essential. However, despite their advantages, the use of colloids has been debated due to potential side effects like allergic reactions and impaired coagulation. Therefore, their administration should be carefully monitored, with consideration given to individual patient factors and overall clinical context.

Recent Developments

• January 2024- CSL Behring, a division of the renowned biotechnology company CSL, made a 10g prefilled syringe for Hizentra® (Immune Globulin Subcutaneous [Human] 20% Liquid) accessible to the public. The Hizentra prefilled syringes enhance the treatment experience for individuals with Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) and Primary Immunodeficiency (PI) by eliminating the requirement to extract medication from vials.
• October 2023- KTC Edibles, the leading provider of edible oils in the UK, introduced Planet Palm, a fresh line of palm oil products that are certified sustainable, traceable, and sustainably produced. These products are specifically designed for food producers in the UK.