Plasma therapy is used for treatment of many disorders such as hair loss, tendon injuries, acute injuries, post-surgical repair, and osteoarthritis and currently for treatment of COVID–19. Several manufacturers are initiating plasma processing in order to tackle the spread of the coronavirus across the world. Therefore, the global plasma therapy market is expected to witness significant growth during the forecast period.
The global plasma therapy market is estimated to be valued at US$ 226.13 million in 2020 and is expected to exhibit a CAGR of 14.1% during the forecast period (2020-2027).
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Global Plasma Therapy Market - Impact of the Coronavirus (COVID – 19) Pandemic
On 24th August 2020, the Food and Drug Administration (U.S. FDA) approved the Convalescent plasma therapy for treatment of Covid – 19 patients in the U.S., without completing the clinical trial due to the exponential increase in the coronavirus infected patients. Convalescent plasma therapy uses blood from people who've recovered from the coronavirus infection to help others recover. On 3rd June 2020, researchers from the Houston Methodist Hospital in the U.S. initiated clinical trials for recording efficacy of the plasma therapy when plasma is transfused from recovered Covid-19 patients into critically ill patients. According to the researchers, 19 out of 25 patients were showing signs of recovery post plasma therapy and 11 patients were later discharged from the hospital following recovery.
Furthermore, many organizations are involved in increasing awareness about donation of plasma. Therefore, the global plasma therapy market is expected to witness growth due to the lack of an appropriate proper vaccine or drug for the treatment of Covid – 19 patients.
Companies are engaged in inorganic activities such as collaborations to develop new treatment plans for patients suffering from the coronavirus.
For instance, on 7th April 2020, Takeda and CSL Behring collaboratively developed a new treatment for patients suffering from the coronavirus infection. The treatment plan involves using blood plasma of patients who have recovered from the infection by further isolating the antibodies from the plasma and injecting it in patients. This therapy triggers an immune response in the body of the patients which can help them survive the infection. Such collaborations are expected to increase the global plasma therapy market growth during the forecast period.
Global Plasma Therapy Market – Restraints
The absence of compensation policies as well as high cost of the plasma therapy treatment are expected to restrain the global plasma therapy market growth during the forecast period.
Global Plasma Therapy Market – Regional Analysis
Companies in North America are focused on inorganic strategies such as collaborations and partnerships to increase the supply of plasma to processing centers and ensuring that a treatment option is available for rare and serious disorders. For instance, in 2017, KEDPLASMA LLC, a subsidiary of Kedrion Biopharma Inc. entered a plasma supply agreement with ImmunoTek Bio Centers, LLC, in which, the ImmunoTek Bio Centers, LLC, developed a total of 28 plasma collection centers for Kedplasma LLC in the U.S. Kedplasma will use the plasma to manufacture different plasma therapies for rare and chronic disorders. Such factors are expected to drive the plasma therapy market growth in North America.
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Global Plasma Therapy Market – Competitive Landscape
Some of the key players involved in the global plasma therapy market are Octapharma AG, China Biologic Products Holdings, Inc. Bio Products Laboratory Ltd, Kedrion S.p.A , Grifols, S.A., CSL, Biotest AG., Takeda Pharmaceutical Company Limited., DePuy Synthes, Regen Lab SA, LFB SA., and Immunotek Bio Centers
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