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Market snapshot on Platelet and Plasma Market 2018-2024

Author : Rahul Sankrityayan | Published Date : 2019-03-22 

The Platelet and Plasma Market is set to exceed USD 6.5 billion by 2024; according to a new research report by Global Market Insights. Increasing prevalence of chronic diseases such as liver cirrhosis, non-alcoholic steato-hepatitis (NASH) hepatocellular carcinoma and other liver diseases will fuel the market growth during the foreseeable years. Liver diseases are the fifth most common cause of mortality across the world. According to American Association for the Study of Liver Diseases, in 2014, liver diseases such as alcoholic liver disease, viral hepatitis and nonalcoholic fatty liver disease affected more than 300 million people in China. 

Geriatric population is susceptible to various liver diseases owing to functional limitations growing with age. Growing cases of liver diseases coupled with rising geriatric population base will stimulate the demand for platelets and plasma for treatment of aforementioned liver diseases thereby augmenting the platelet and plasma market growth. Growing number of blood transfusions globally is another impact rendering factor for the growth of platelets and plasma market. According to European commission’s 2017 annual report, more than 25 million units of blood and blood components were being issued for the purpose of transfusion in Europe. Blood transfusion is an essential medical procedure that plays a crucial role for supporting different healthcare specialties across the world. Isolation of blood components such as red blood cells, platelets, plasma and other essential components of blood is primarily done through blood transfuion.

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The incidence of immune thrombocytopenia among U.S. adults is also quite alarming – approximately 3.3 per 100,000 adults in a year. As per experts’ opinion, platelet transfusion, in the true sense, has brought a disruption in the treatment of hypoproliferative thrombocytopenia. In fact, American Academy of Neurology even claims that plasma can be used for treating various neurological disorders as well. Ergo, it can be stated that platelet and plasma industry’s penetration in the healthcare space has changed the conventional therapeutic model in ways more than one. The aforementioned estimates vividly depict the humongous growth prospect of U.S. platelet and plasma market, which dominated the overall business space in 2017 with 34% of the global share.

As mentioned above, platelet transfusion has immensely contributed to the revolutionary hypoproliferative thrombocytopenia treatment for patients affected with hematological malignancies and cancer. Undeniably it has left a parallel impact on overall platelet and plasma market share. However, it is worth mentioning that despite the long term application scope of platelet transfusion, all aspects of their optimal usage have not been exploited yet.  Incidentally, this has created novel growth opportunities for research fellows and core companies operating in market to unlock its potential in unexplored arenas. One such area that is presently grabbing the attention is platelet transfusion in cases of ABO and/or RhD incompatibility.

Decades back, ABO-incompatibility in platelet transfusion was not considered a hindrance in normal response. In fact, ABO-mismatched platelet transfusion was very much in practice for a long period. However, the issue became apparent when ABO incompatibility between donor and recipient ultimately led to a deterioration in the effectiveness of the transfusion and its adverse impact on the recipient. As per the latest study, ABO- compatible platelet transfusion is claimed to be the safest and most effective approach present today in platelet transfusion practice.

In fact, proper identification of high-risk patients and their treatment by ABO-identical platelets transfusion has shown better results, cite experts. In case of negligible ABO-incompatibility, single donor platelet concentrates or random donor platelets concentrates from A2 “universal” PLT donors might be other alternative approach. These extensive research work coherently validates the underlining expansion of platelet and plasma industry over the recent years. As per estimates, platelets segment having reigned the overall business space in 2017 with USD 3.6 billion revenue, would continue to dominate platelet and plasma market over the ensuing years.

U.S. platelet and plasma market dominated industry by holding the global revenue share of over 34% of in 2017. Rising incidences of neurological conditions such as myasthenia gravis, multiple sclerosis and inflammatory dysimmune neuropathies coupled with increasing number of patients suffering from cardiothoracic disorders and orthopedic injuries will serve to be a major impact rendering factor. Moreover, various initiatives undertaken by American Red Cross for creating awareness pertaining to significance of blood donation, availability of advanced healthcare facilities as well as existence of compensated and non-compensated blood donation systems in the U.S. will further fuel the regional growth.

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Some of the notable industry players operating in global platelet and plasma market are America’s Blood Centers, American Red Cross, Blood Centers of America, European Blood Alliance, Indian Red Cross Society, Japanese Red Cross Society, Red Cross Society of China, Spanish Red Cross, Saudi Red Crescent Authority and South Africa Red Cross Society. Key strategy adopted by most of the industry players include collaborations and partnerships to encourage blood donation. For instance, in March 2016, Blood Bank Computer Systems, Inc. (BBCS) partnered with Blood Centers of America (BCA). This partnership focused on offering software at reduced costs to the blood centers under BCA with an aim to improve their information exchange.

Market by Component:

Platelets
Plasma

Market by Application:

Hemophilia
Thrombocytopenia
Perioperative Indications
Platelet Function Disorders
Other Platelet Applications
Coagulation Factor Deficiencies

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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