Plasma Therapy Market

Market Overview

The plasma therapy market was valued at USD 205.15 million in 2019 and is expected to grow with a CAGR of 14.8%.

Plasma therapy aims at using antibodies from the blood to treat chronic, life-threatening conditions. In the last few years, plasma therapy has proven to be an effective treatment in terms of improving life expectancies and survival rates. Increasing incidences of accidental blood loss and rising healthcare expenditure provide an impetus the market growth.

Plasma therapy is emerging as a standard practice, and a number of healthcare professionals are actively adopting the therapy to treat the growing list of orthopedic and other therapeutic conditions. The FDA has recently approved the use of plasma therapy on COVID-19 patients. 

Market Dynamics

Burgeoning Demand for Advanced Therapeutics Drive the Market Growth

Globally, the healthcare sectors are channelizing efforts to manufacture plasma-derived medicinal products using albumin, coagulation factors, and immunoglobulin, to treat several chronic and acute life-threatening diseases. Several of these products are included in the Essential Medicines Lists of the World Health Organization.

Rising approval of plasma therapies, increasing R&D activities, and burgeoning demand for advanced therapeutics drive the market growth. In 2016 around 74% of sourced plasma came from the U.S.  Plasma therapy is also used in replacement therapies to treat deficiency of coagulation factors in autoimmune disorders. Immunoglobulin holds one of the largest shares of about 40–50% (about USD 20 billion) in the plasma therapy market. On the other hand, albumin and plasma-derived factor VIII each hold a significant market share of about 10–15% each.

Active Participation by Prominent Market Players to Drive the Market Growth

The plasma therapy market’s most prominent driver is the emergence of new indications such as immune deficiencies and immune-mediated diseases. Today, prominent market players are continuously working to develop innovative plasma-derived medicinal products for the treatment of several neurological disorders such as neuropathic pain, myasthenia gravis, and post-polio syndrome. Plasma-derived albumin is under clinical trial for the treatment of liver diseases, malaria, sepsis, and Alzheimer’s diseases. Additionally, the rising use of immunoglobulin as a treatment is projected to bolster market growth. In the U.S., approximately USD 40,000 is invested in subcutaneous Immunoglobulin treatment for severe immune deficiencies.

Segmental Analysis

Widespread Application of Pure Platelet Rich Plasma to Drive the Segment Growth

Based on type, the plasma therapy market is segmented into pure platelet-rich plasma (PRP), leukocyte-rich PRP, pure platelet-rich fibrin (PRF), leukocyte-rich fibrin (l-PRF), and plasma proteins. The pure platelet-rich plasma segment held the largest market share owing to its widespread applications in cosmetics, general, cardiovascular, and wound healing surgeries. Pure platelet-rich plasma therapy aids in soft tissue healing, regeneration of ligament and tendon fibers, and reduces the risk of the post and preoperative bleeding. Hence, it is considered as one of the most significant treatment methods for the management of several chronic diseases.  

Low Threat of Disease Transmission to Drive the Autologous Segment Growth

By source, the market is segmented into autologous and allogenic. The autologous segment is projected to hold the largest market share as it eliminates the cost of clinical analysis for blood-borne diseases and has a low threat of disease transmission compared to allogenic. On the other hand, the allogenic plasma source is collected from the donor’s blood using aphaeresis technology, further prompting the need for stringent donor selection and testing criteria.

Rising Adoption of Plasma Therapy in Orthopedics Drives the Market Growth

Based on the application, the plasma therapy market is categorized into orthopedics, chronic infectious diseases, dermatology, dental, cardiac muscle injury, and nerve injury. Today, a number of orthopedic problems, such as rotator cuff, quadriceps, hamstring, Achilles tendon injuries, and tennis elbow, are successfully treated using plasma therapy as it reduces the chances of recurrence. Thus, the rising adoption of plasma therapy in orthopedics drives the market growth. On the other hand, the dermatology segment is projected to witness significant growth during the forecast period. Plasma therapy has become one of the most adopted nonsurgical procedures for facial rejuvenation. The therapy uses the patient’s blood to stimulate new cell growth, improve complexion, skin texture, and restore lost facial volume.

Impact of covid-19

Currently, the world is battling the newly emerged strain, coronavirus, which has no definitive treatment. A similar picture of lack of definitive therapy can be traced in the history of medical science during the Ebola outbreak, where the World Health Organization (WHO) directed the use of convalescent plasma (CP) therapy to control its prevalence. Today, plasma therapy is used as one of the methods to treat COVID 19 patients. Recently, the U.S. FDA approved the use of plasma therapy for critically ill COVID-19 patients, further driving the market growth.  

Regional Analysis

North America: Home to World’s Most Prominent Players Operating in the Field of Plasma Therapy

North America leads the plasma therapy market on account of the rising application of plasma therapy in therapeutics and an increasing number of people suffering from orthopedic injuries. The regional market is also backed by the presence of leading players, well-established healthcare infrastructure, favorable regulatory framework, and government support.  As per the Centers for Disease Control and Prevention (CDC), in the U.S., about 54.4 million people were diagnosed with joint arthritis, rheumatoid arthritis, and gout in between 2013—2015, of which around 22% of the patient’s opted for plasma therapy.

Increasing Medical Tourism and Government Initiatives to Drive Asia-Pacific’s Plasma Therapy Market

Asia-Pacific’s plasma therapy market is projected to witness the fastest growth during the forecast period. An increasing number of cosmetic surgeries and medical tourism in countries such as South Korea, Thailand, and India provides an impetus to the market growth.  Japan leads Asia-Pacific’s plasma therapy market as the country houses several organizations, manufacturing and supplying plasma-derived medicinal products. In 2012, the country developed the Japan Blood Products Organization to ensure a steady, self-sufficient, and safe supply of plasma-derived medicinal products. The organization encourages people to donate blood to ensure an adequate supply of blood plasma across the country. On the other hand, India offers lucrative opportunities to the players operating in the plasma therapy market.   

Recent Developments

In March 2018, CSL Ltd received the U.S. FDA approval for Hizentra, the first and only subcutaneous immunoglobulin therapy to treat chronic inflammatory demyelinating polyneuropathy (CIDP) 

In August 2018, Grifols International S.A. acquired about 24 plasma donor centers in the U.S., operated by Biotest AG

Plasma Therapy Market Segmentation

By Type

• Pure platelet-rich plasma (PRP)
• Leukocyte-rich PRP
• Pure platelet-rich fibrin (PRF)
• Leukocyte-rich fibrin (L-PRF)
• Plasma proteins

By Source

• Autologous
• Allogenic

By Application

• Orthopedic
• Chronic infectious diseases
• Dermatology
• Dental
• Cardiac muscle Injury
• Nerve injury

By End-User

• Hospitals and clinics
• Research institutions

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa