Plasma Expander Market to grow with a CAGR of 4.90%
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Plasma Expander Market.
According
to TechSci Research report, “Global Plasma Expander Market Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Plasma Expander Market
has valued at USD 44 billion in 2022 and is anticipated to witness an
impressive growth in the forecast period with a CAGR of 4.90% through 2028. This
can be due to collaborations and partnerships among leading companies with a
diverse approach to merge the expertise of individual companies and to
strengthen their position in the market.
Awareness
and education play a crucial role in driving the Global Plasma Expander Market.
Increased awareness among healthcare providers, patients, and the public about
the benefits and appropriate use of plasma expanders can lead to several
positive outcomes, ultimately contributing to market growth. Awareness
campaigns and educational initiatives can help healthcare providers better
understand when and how to use plasma expanders effectively in various clinical
scenarios, such as trauma, surgery, and critical care. This knowledge leads to
improved patient care. Educating healthcare professionals and patients about
the potential risks associated with blood transfusions, such as infections and
immunological reactions, can lead to a preference for alternatives like plasma
expanders. This can reduce the demand for blood transfusions and drive the use
of plasma expanders. Healthcare facilities and providers that are well-informed
about the benefits of plasma expanders can make more informed decisions about
their use. This leads to the efficient allocation of resources and
cost-effective patient care. Awareness and education can encourage healthcare
providers to adopt evidence-based practices. This means using plasma expanders
when supported by clinical evidence and guidelines, which can lead to better
patient outcomes. As patients become more aware of their treatment options and
potential benefits of plasma expanders, they may request or prefer these
products when appropriate. This can drive increased demand in the market.
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A plasma expander is a medical tool designed
to augment the blood volume within the circulatory system. It serves the
purpose of elevating venous pressure and mitigating or averting shock following
surgery or illness, such as heart attacks or liver disease. This intervention
is essential in cases where there is diminished oxygen saturation in bodily
tissues, leading to a reduced delivery of vital nutrients like oxygen and
glucose to cells throughout the body.
In April 2021, Grifols, a renowned global pioneer in
the advancement of plasma-derived medicines, has successfully completed the
acquisition of seven plasma donation centres in the United States from Kedrion
for a total of USD 55.2 million. This transaction has received the necessary
regulatory approvals and will be funded entirely through Grifols' internal
resources, without the need to incur any debt. Grifols boasts a rich history of
over a century dedicated to enhancing the health and well-being of individuals.
This acquisition underscores Grifols' dedication to expanding its plasma
supply, both through organic growth and strategic acquisitions. The transaction
further solidifies the company's ongoing efforts to fortify its plasma centre
network, which serves as a substantial competitive asset. Grifols continues its
unwavering commitment to enhancing the accessibility of its life-improving
plasma-derived products for patients in need and is fully prepared to meet the
anticipated robust demand.
Product
development and innovation can be a challenge in the Global Plasma Expander
Market. Developing and bringing a new plasma expander to market involves
navigating complex regulatory pathways. Regulatory agencies in various
countries have stringent requirements for safety and efficacy testing. Meeting
these requirements can be time-consuming and costly. Conducting clinical trials
to demonstrate the safety and efficacy of a new plasma expander is a
significant undertaking. These trials require substantial resources, time, and
coordination with healthcare institutions and patients. Additionally, there may
be ethical considerations in recruiting patients for trials. Plasma expanders
must have an excellent safety profile, as they are administered to patients in
critical care situations. Ensuring the safety of new products is a top
priority, and any concerns about potential adverse effects must be addressed. Developing a new plasma expander can be
expensive, and manufacturers must consider the economic viability of their
products. Balancing the cost of research and development with potential market
demand and pricing is a challenge. The plasma expander market has established
players with existing products. Innovators must compete with these established
products, making it essential to demonstrate significant advantages in safety
or efficacy to gain market share.
Global Plasma Expander Market is segmented based on
Product Type, End User, and by region.
Based on Product
Type, Global Plasma Expander Market is segmented into Dextran, Hydroxyethyl
Starch, Human Albumin, PEGylated Albumin, Polyvinylpyrrolidone (PVP), Gelatin.
PEGylated albumin is a modified form
of human serum albumin (HSA) in which polyethylene glycol (PEG) molecules are
chemically attached to the albumin protein. This modification enhances the
properties and therapeutic potential of albumin for various medical
applications. PEGylated albumin
is created by covalently binding PEG molecules to the amino acid residues on
the surface of albumin. The PEGylation process involves attaching PEG chains of
varying lengths to the albumin molecule. PEGylation increases the size of
albumin and imparts steric hindrance, making it less susceptible to rapid
clearance by the body's immune system. This results in an extended circulation
time in the bloodstream. PEGylation
enhances the stability of albumin, allowing it to maintain its structural
integrity and therapeutic properties for a longer duration. PEGylation increases the half-life of
albumin, allowing for prolonged therapeutic effects. The modification can
reduce the likelihood of immune reactions to albumin.
Based on Region, North America dominated the Global Plasma Expander Market. The regulatory
environment in North America is well-defined and often sets the standard for
product approval and safety. Companies that gain regulatory approval in North
America can often expand to other global markets more easily. Many
pharmaceutical and biotechnology companies with interests in plasma-derived
products, including plasma expanders, are headquartered or have a strong
presence in North America. This supports research, development, and
distribution efforts. North America conducts a significant number of clinical
trials and medical research. This research helps advance the understanding and
application of plasma expanders in various medical settings. Health insurance
coverage in North America is widespread, which means that patients have access
to a wide range of medical treatments, including those that involve the use of
plasma expanders. The healthcare providers and professionals in North America
are well-educated and aware of the benefits and appropriate use of plasma
expanders, contributing to their higher adoption.
The Asia-pacific region witnesses the fastest growth in
the Global Plasma Expander Market.
Many countries in the Asia-Pacific region have been investing in the expansion
and improvement of their healthcare infrastructure. This includes the
development of modern hospitals, healthcare facilities, and specialized
treatment centers, all of which drive the demand for medical products like
plasma expanders. The Asia-Pacific region is home to a large and growing
population. With an expanding population, there is an increased demand for healthcare
services, including surgical procedures and emergency care, which often require
plasma expanders. The prevalence of chronic diseases, such as cardiovascular
diseases and diabetes, has been on the rise in the Asia-Pacific region. These
conditions may require medical interventions that involve plasma expanders. As
healthcare access improves, there has been a surge in surgical procedures in
the Asia-Pacific region. Plasma expanders are commonly used in surgical
settings to manage blood volume during operations, contributing to market
growth.
Some
of the major companies operating in the Global
Plasma Expander Market include:
- Baxter
International Inc.
- Fresenius
SE & Co. KGaA
- CSL
Limited
- Grifols,
S.A.
- B.
Braun Melsungen AG
- Hikma
Pharmaceuticals PLC
- Octapharma
AG
- Kedrion
S.p.A.
- Shanghai
RAAS Blood Products Co., Ltd.
- Terumo
Corporation
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“Certain areas, particularly in North
America, are projected to exert significant demand for Plasma Expander. The
growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people each
year, are expected to contribute to a remarkable growth of the Global Plasma
Expander Market in the forecast period," said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based Global management consulting
firm.
Plasma Expander Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Dextran, Hydroxyethyl
Starch, Human Albumin, PEGylated Albumin, Polyvinylpyrrolidone (PVP), Gelatin),
By End User (Online Pharmacies, Retail Pharmacies, Hospital Pharmacies), by region,
and Competition evaluated the future growth potential of
Global Plasma Expander Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
innovative market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Plasma
Expander Market.
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