Plasma Therapy Market size is estimated to reach $470.04m by 2025, growing at a CAGR of 13.32% during the forecast period 2020-2025. Plasma is the yellowish liquid present in the blood, which carries the salts, enzymes and water. Plasma therapy is the method of treatment that is used for the healing of wounds, cardiac muscle injuries and others. In Plasma therapy, the plasma is injected to the patient’s tissues about 4-5 times to get that cured. The rising increase in the diseases over worldwide and an increase in demand of the plasma therapy are driving the market during the forecast period 2020-2025.
By Type- Segment Analysis
The global Plasma Therapy Market based on type has Pure PRP, Leukocyte-Rich PRP, Pure Platelet-Rich Fibrin, Leukocyte-Rich Fibrin. The Pure PRP segment registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025. The segment is set to emerge owing to effective results in treatment by this type of therapy. Rising in funding for the health care and increased usage of PRP in the hospitals and other clinics is boosting the market. Pure Platelet-Rich segment is also set to have a healthy growth owing to increased usage and having antimicrobial effects.
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By Application – Segment Analysis
The Application segment of Plasma Therapy Market has Orthopedic, Dermatology, Cardiac Muscle Injury, Dental, Nerve Injury, and Others. The Dermatology segment, which is sub categorized into Androgenic Alopecia, Plastic Surgery registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025. Increase in the dermatological disorders and development of new techniques to treat skin diseases is boosting the market in this segment. The Orthopedic segment, which is further segmented into Arthritis, Chronic Tendinitis, bone Repair & Regeneration is also set to have positive growth owing to the increased usage of plasma therapy in this segment.
By Geography – Segment Analysis
By Geography, the global Plasma Therapy Market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America holds the dominant share in the year 2019 and set to have the fastest growth during the forecast period 2020-2025. The growth is owing to the increased research and developments made by the government and private sectors. The Asia-Pacific is also set to have a considerable growth owing to the increased population and increased awareness for blood donation. Increased number of hospitals and clinics and presence of advanced plasma therapies is boosting the market during the forecast period 2020-2025.
Drivers – Plasma Therapy Market
Wide range of applications
The growing demand for plasma therapy in the surgery of orthopedic and other treatments is driving the market. Increased developments of plasma therapies for different types of diseases and increased blood donations are the factors that are boosting the market during the forecast period 2020-2025.
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Challenges – Plasma Therapy Market
High price of plasma therapy
The high cost of plasma therapy is challenging the market. Cost of extraction of plasma from blood and storage of extracted plasma are hindering the market
Plasma Therapy Industry outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Plasma Therapy Market. Key companies of this market are DePuy Synthes Companies, Bio Products Laboratory Ltd., Arthrex, Inc., Regen Lab USA LLC, Takeda Pharmaceutical Company Limited, China Biologic Products Holdings, Inc., Biotest AG, CSL Limited, Grifols, S.A., Octapharma, and others.
Acquisitions/Product Launches
In November 2018, Bio Products laboratory announces the launch of ALBUMINEX 5% and ALBUMINEX 25%, for the treatment of hypovolemia, ascites, hypoalbuminemia including from burns, acute nephrosis, acute respiratory distress syndrome (ARDS), and cardiopulmonary bypass.
In July 2019, Baxter International Inc. Launched PrisMax, which is used to treat the kidney injuries.
Key Takeaways
Geographically, North America’s Plasma Therapy Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
Having a wide range of application for the treatment and increased awareness of blood donation is driving the market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the plasma therapy Market report.
Plasma therapy is used in the treatment of the Covid-19 patients, by collecting the plasma from the recovered covid-19 patients and injecting that to the new patients.
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