Plasma Protein Therapeutics Market - Growth, Trends, and Forecasts (2023-2028)

The plasma protein therapeutics market has been projected to register a CAGR of 5.3% over the forecast period.

The COVID-19 pandemic significantly impacted the plasma protein therapeutics market during the initial phase because of factors such as reduced plasma donations, shutdowns of laboratories and testing centers, and restrictions on medicine import and export. However, the sector has been recovering well since restrictions were lifted. The market is expected to grow due to increased plasma protein therapeutics product launches and associated research studies.

The major factors leading to the market's growth include the increasing prevalence of autoimmune disorders, immune deficiency disorders, neurological and bleeding disorders, and the rise in research and development in plasma protein. For instance, as per the 2022 update from NHF, approximately 400 male babies are born with hemophilia A every year. Furthermore, the growing investments in research & development programs by biotechnology and pharmaceutical companies are boosting the market growth. For instance, in November 2021, Biognosys launched the Next-Generation blood biomarker discovery solution. The improved service offers unprecedented depth, precision, and throughput, quantifying up to 3,000 proteins in plasma or serum.

Moreover, beneficial government initiatives, escalating awareness levels among blood donors, advanced protein fractioning procedures, greater per capita income in developed countries, and increased research partnerships are some of the drivers expected to increase market growth in the region. For instance, in October 2022, the Department of Health and Human Services (HHS) launched an innovation challenge to identify effective, evidence-based strategies to increase blood and plasma donations through sustainable, community-driven approaches. The challenge is part of HHS’s ‘Giving=Living campaign,’ which aims to raise awareness of the importance of donating blood and to encourage Americans to develop new, regular donation habits. In October 2022, the ISBT Working Party on Global Blood Safety initiated the ICSPP as a global coalition to advance access to safe plasma proteins in Low- and middle-income countries. The alliance is likely to support national initiatives in stepwise plasma quality, safety, and volume enhancement; local small-scale synthesis of virus-safe clotting factors and immunoglobulins; and advancement of industrial plasma fractionation in collaboration with the WHO. Hence, such government initiatives are likely to increase the awareness and demand for plasma protein therapeutics, thereby boosting market growth over the forecast period.

Therefore, the studied market is predicted to grow over the forecast period due to the surge in plasma protein research and development and the incidence of autoimmune disorders, immune deficiency disorders, neurological disorders, and bleeding disorders. However, the stringent regulations for handling plasma protein products and the lack of proper reimbursement policies are the major drawbacks expected to hinder the market growth.

Plasma Protein Therapeutics Market Trends

Hemophilia Segment is Expected to Witness a Growth in the Plasma Protein Therapeutics Market Over the Forecast Period

Hemophilia is a rare genetic bleeding disorder that prevents normal blood clotting. The main symptom of this disorder is uncontrolled bleeding, which frequently occurs in various areas of the body. The amount of bleeding is determined by the severity of hemophilia. The segment is expected to grow in the future due to the increasing number of patients diagnosed with hemophilia. For instance, as per the article published in May 2022 by MedlinePlus, National Library of Medicine (NLM), Hemophilia A is the most prevalent type of the condition, with an incidence rate of 1 in 4,000 to 1 in 5,000 males worldwide born with this disorder, and Hemophilia B occurs in approximately 1 in 20,000 newborn males across the world. This prevalence of hemophilia among the target population is increasing the demand for advanced plasma protein therapeutics. As fresh frozen plasma (FFP) is one of the most commonly available for the treatment of hemophilia A and B in some countries, this is expected to drive the growth of the hemophilia segment.

Moreover, the increasing research & development (R&D) of new therapeutics and company activities are expected to boost segment growth over the forecast period. For instance, in July 2021, Sanofi presented Clinical data and new research from Sanofi’s rare blood disorders portfolio of marketed and investigational therapies for people with hemophilia, immune thrombocytopenia (ITP) and acquired thrombotic thrombocytopenic purpura (aTTP) at the International Society on Thrombosis and Haemostasis (ISTH) 2021 Virtual Congress. In addition, in December 2021, Pfizer Inc. and Sangamo Therapeutics, Inc., a genomic medicines company, published an updated follow-up data from the Phase 1/2 Alta study of giroctocogene fitelparvovec, investigational gene therapy for patients with moderately severe to severe hemophilia A. Thus, increasing product development in the segment is anticipated to drive market growth over the forecast period.

Additionally, the rise in leukemia cases leads to the demand for plasma transfusion and therapy. Doctors prescribe platelet transfusions to people with leukemia who have low platelet counts. As per the American Cancer Society 2022 update, 35,810 males and 24,840 females were affected with leukemia.

Hence, due to the rise in hemophilia diseases, and the increase in research & development for hemophilia therapy, the hemophilia segment is expected to have significant growth over the forecast period.

North America is Expected to Witness a Growth in the Plasma Protein Therapeutics Market Over the Forecast Period

North America is expected to witness growth in the overall plasma protein therapeutics market throughout the forecast period owing to the increasing prevalence and incidence of autoimmune and neurological diseases and a rise in research & development in plasma protein. Moreover, the well-established healthcare infrastructure-focused market players on R&D for plasma protein therapeutics, coupled with recent product launches and the rising burden of autoimmune disorders, are primary growth factors for the market in the United States. For instance, as per the CDC November 2021 update, in the United States, 24% of all adults, or 58.5 million people, have arthritis. It is a leading cause of work disability, with annual costs for medical care and lost earnings of USD 303.5 billion. In fact, among chronic diseases in North America, arthritis causes more disability than any other condition, including heart disease, diabetes, and back or spine problems.

Furthermore, as per the October 2021 update from CDC, by 2040, an estimated 78.4 million adults aged 18 years and older are likely to be affected with doctor-diagnosed arthritis. Platelet-rich plasma therapy or PRP therapy, or autologous conditioned plasma (ACP) therapy, attempts to take advantage of the blood's natural healing properties to repair damaged cartilage, tendons, ligaments, muscles, or even bone. The therapy is currently used to treat arthritis. Hence, as per the estimates mentioned above, the growing arthritis cases in the United States are anticipated to create opportunities for advanced plasma protein therapies, driving the overall market growth in the country.

Additionally, product launches, collaborations, mergers, and acquisitions in the field of plasma protein therapeutics are likely to boost market growth over the forecast period. For instance, in October 2022, Grifols agreed with Canadian Blood Services to accelerate self-sufficiency in immunoglobulins for Canada. Under the 15-year agreement, the company is likely to provide an additional 2.4 million grams of Ig annually for Canadian patients and Canadian Blood Services with renewal options and pricing in line with Western market values and subject to periodic reviews. Hence, such collaborations and agreements with companies are likely to increase product availability in the studied region, thereby boosting market growth over the forecast period.

Therefore, due to the rise in blood-related disorders, increasing prevalence and incidence of autoimmune and neurological diseases, and research and development in plasma protein, the North American region is expected to witness substantial growth over the forecast period.

Plasma Protein Therapeutics Market Competitor Analysis

In the current scenario, strategies by the market players are increasing, fueling the plasma protein therapeutics market. The market is competitive in nature due to the heavy demand for products. The plasma protein therapeutics market is moderately competitive and consists of several major players. Some companies currently dominating the market are Takeda Pharmaceutical Company Limited, Octapharma USA Inc., Biotest UK, Baxter, Grifols, S.A., and CSL, among others.

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