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Plasma Therapy Global Market Report 2024 - Projected Compound Annual Growth Rate of 12.5%, with Market Set to Reach $0.88 Billion in 2028
Thursday, February 29, 2024
DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Plasma Therapy Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
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The plasma therapy market size has grown rapidly in recent years. It will grow from $0.49 billion in 2023 to $0.55 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. Historical expansion owes its momentum to diverse factors the escalation of chronic diseases, heightened recognition of plasma therapy benefits, government endorsement, widespread reimbursement availability, a shift towards minimally invasive procedures, amplified demand for personalized medicine, and the burgeoning population of older adults. These elements collectively fueled the growth trajectory.
The plasma therapy market size is expected to see rapidly grown in the next few years. It will grow to $0.88 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The forecasted growth ahead is correlated with increased adoption of immunoglobulins, their wider applications in diverse medical sectors, a surge in demand for treating rare diseases, and the ascent of personalized therapeutic methods. Notable trends on the horizon include advancements in novel and refined plasma therapy techniques, innovations in biological manufacturing, the emergence of cell-free plasma treatments, integration of telemedicine methodologies, and ongoing research delving into new applications within this domain. These trends are poised to shape the landscape of plasma therapy in the coming period.
The expected surge in osteoarthritis cases is set to drive growth in the plasma therapy market, particularly highlighting Platelet-rich plasma (PRP) as a safe and effective remedy. PRP, through the injection of concentrated autologous blood growth factors into the affected joint, alleviates symptoms by reducing inflammation and slowing osteoarthritis progression. The Journal of Elsevier's September 2023 report forecasts a substantial global increase in osteoarthritis cases by 2050, spanning various joints like the knee, hand, hip, and other types. This projected surge in osteoarthritis incidences is likely to spur demand for plasma therapy, particularly leveraging the efficacy of PRP.
The expanding landscape of cosmetic and aesthetic procedures is anticipated to propel the plasma therapy market. These procedures, aimed at enhancing physical appearance, have notably incorporated Platelet-rich plasma (PRP) for skin rejuvenation, collagen stimulation, and tissue repair. The 2021 survey by the International Society of Aesthetic Plastic Surgery recorded a significant surge of 30.4 million cosmetic/aesthetic procedures globally, marking a 19.3% rise from 2020. This surge underscores the growing influence of cosmetic and aesthetic procedures in driving demand for plasma therapy, especially PRP applications.
The primary forms of plasma therapy encompass pure PRP, leukocyte-rich PRP, pure platelet-rich fibrin (PRF), and leukocyte-rich fibrin (L-PRF). Pure Platelet-Rich Plasma (P-PRP) or leucocyte-poor PRP products are activated preparations lacking leukocytes and possessing a low-density fibrin structure. These varied applications span orthopedics, arthritis, chronic tendinitis, bone repair and regeneration, dermatology, androgenic alopecia, plastic surgery, dental procedures, cardiac muscle injury, among others. These applications find implementation across diverse sectors, including hospitals, clinics, laboratories, and research institutions.
Key Markets Covered:
-- By Type: Pure PRP; Leukocyte-rich PRP; Pure Platelet-rich Fibrin (PRF);
Leukocyte-rich Fibrin (L-PRF)
-- By Application: Orthopedics; Arthritis; Chronic Tendinitis; Bone Repair
& Regeneration; Dermatology; Androgenic Alopecia; Plastic Surgery;
Dental; Cardiac Muscle Injury; Other Applications
-- By End-Users: Hospitals & Clinics; Laboratories: Research Institutes
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Companies Profiled
-- Takeda Pharmaceutical Company Limited
-- Bio Products Laboratory Ltd.
-- Arthrex Inc.
-- Biotest AG
-- China Biologic Products Holdings Inc.
-- DePuy Synthes Companies
-- CSL Limited
-- Grifols S.A.
-- Octapharma AG
-- Terumo BCT Inc.
-- Pfizer Inc.
-- Kedrion Biopharma
-- ADMA Biologics Inc.
-- SK Plasma Co. Ltd.
-- Kamada Ltd.
-- Grifols International S.A.
-- Fusion HealthCare
-- LFB Plasma
-- Baxter International Inc.
-- Bayer AG
-- GC Biopharma Corp
-- Hualan Biological Engineering Inc.
-- Japan Blood Products Organization
-- PlasmaCare Inc.
-- ProMetic Life Sciences Inc.
-- Sanquin
-- Shanghai RAAS Blood Products Co. Ltd.
-- Canadian Plasma Resources
-- B Positive Plasma
-- Proesis Biologics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/yx09cd
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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SOURCE Research and Markets
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