Plasma Therapy Market: Increase in incidence rate of orthopedic disorders is projected to drive the market
Global Plasma Therapy Market: Introduction
- Blood is made up of red blood cells (RBCs), white blood cells (WBCs), platelets, and plasma. Plasma constitutes 55% of the total blood volume. Apart from RBCs, WBCs, and platelets, plasma carries hormones, proteins, and nutrients to different parts of body.
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- When pathogens attack a human body, the immune system starts releasing proteins to fight the infection. These proteins are called antibodies. Once the infected person releases enough amount of antibodies to fight the pathogen, he or she can recover from diseases without taking medication.
- In plasma therapy, the immunity of a healthy recovered person can be transferred to the patient with the help of plasma, as it contains high concentration of antibodies
- Plasma therapy has been used for a long time, primarily in dentistry, orthopedics, and dermatology. Plasma treatment is generally utilized in wound healing, facial restoration, and androgenetic alopecia.
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Key Drivers and Restraint of Global Plasma Therapy Market
- According to the World Health Organization Association (WHO), globally, 9.6% of men and 18% of women aged over 60 have symptomatic osteoarthritis. Of these, 80% have limitations in movement and 25% cannot perform day-to-day activities. Increase in incidence rate of orthopedic disorders is projected to drive the global plasma therapy market.
- Technological advancements and utilization of plasma therapy in various life threatening diseases is anticipated to boost the growth of the global plasma therapy market in the next few years
- According to the World Health Organization (WHO), population aged 60 years and above will increase from 605 million in 2000 to 2 billion in 2050. The geriatric population suffers from various diseases and is more prone to infectious diseases due to weak immunity. This is expected to increase the demand for plasma therapy, which in turn is likely to boost market growth.
- According to the National Center for Biotechnology Information (NCBI), in the U.S., around 86,000 athletes are treated using plasma therapy every year. This increase in usage of plasma therapy is projected to augment the global market in the next few years.
- However, high cost of plasma therapy is anticipated to restrain the global plasma therapy market
- Plasma therapy is quite efficacious in a number of applications. However, it is not effective in all procedures. More research & trials and different approaches are required for addressing different conditions.
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North America to Lead Global Plasma Therapy Market
- In terms of region, the global plasma therapy market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America accounted for the largest share of the global plasma therapy market in 2019 and the trend is projected to continue in the next few years. Growth of the market in the region is ascribed to expanding government support for research & development in the field of plasma treatment and increase in awareness among blood donors.
- The plasma therapy market in Asia Pacific is anticipated to grow at the fastest pace during the forecast period because of rise in health awareness among practitioners as well as the population, and increase in medical tourism
- Latin America and Middle East & Africa are likely to be steady markets for plasma therapy during the forecast period due to lack of awareness and initiatives taken by governments
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Key Players Operating in Global Plasma Therapy Market
- Takeda Pharmaceutical Company Limited
- Bio Products Laboratory Ltd.
- Arthrex, Inc.
- Biotest AG
- China Biologic Products Holdings, Inc.
- DePuy Synthes Companies
- CSL Limited
- Grifols, S.A.
- Regen Lab USA LLC
- LFB S.A.
- Terumo BCT, Inc.
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