Alarming rise in prevalence of life-threatening diseases such as immunodeficient diseases, bleeding disorders, increase in number of blood donations. and increase in number of geriatric population drive the growth of the global middle east blood plasma derivatives market
PORTLAND, Hours., Jan. 30, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Middle East Blood Plasma Derivatives Market by Type (Albumin, Factor VII, Factor IX Concentrate, Anti-Coagulation Factor, Rh Immunoglobulin, and Others), by Application (Immunodeficiency Diseases, Bleeding Disorders, Liver Conditions, and Others), by End User (Hospitals, Clinics, and Transfusion Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global middle east blood plasma derivatives market generated $1.1 billion in 2021, and is estimated to reach $3.0 billion by 2031, witnessing a CAGR of 9.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, Restraints, and Opportunities-
Rise in the prevalence of life-threatening disorders such as immunodeficiency disorders and hemophilia, and rise in awareness among the health professional medicinal regarding use of blood plasma drive the growth of the global middle east blood plasma derivatives market. On the other hand, side effects associated with blood plasma derivative therapy and prohibitive cost of therapy restrain the growth to some extent. However, surge in promotional activities by manufacturers and rise in awareness about usefulness of blood donation and plasma donation among individuals are expected to create lucrative opportunities in the industry.
- The rise in the usage of plasma derivatives for treatment of COVID-19 is anticipated to have positive impact on the middle east blood plasma derivative market. Moreover, rise in the number of blood donation and plasma donation activity during COVID-19 is anticipated to drive the growth of market.
- With the emergence of the COVID-19 pandemic, the demand for plasma derivatives such as albumin, immunoglobulin, and coagulation factors has increased significantly. In addition, the availability of safe and effective plasma derivatives for a variety of medical applications has made them highly sought after in the Middle East region.
The hospitals segment to maintain its dominance during the forecast period-
By end user, the hospitals segment held the largest share in 2021, garnering nearly three-fourths of the global middle east blood plasma derivatives market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 9.7% during the forecast period. This is driven by the considerable number of patient visits to the hospitals for blood donation, increase in prevalence immunodeficiency disorders, & bleeding disorders and rise in number of hospitalization.
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The bleeding disorder segment to rule the roost-
By application, the bleeding disorder segment contributed to more than one-thirds of the global middle east blood plasma derivatives market share in 2021, and is projected to rule the roost by 2031. The same segment would also display the fastest CAGR of 9.9% throughout the forecast period. Increase in prevalence of bleeding disorder and surge in application of blood plasma derivatives for treatment of bleeding disorders in middle east fuel the segment growth.
Rest of Middle East garnered the major share in 2021-
By region, Rest of Middle East held the major share in 2021, garnering more than three-fifths of the global Middle East Blood Plasma Derivatives market revenue, and is expected to dominate by 2031. This is due to the prevalence of hemophilia, and life threatening disorder. Saudi-Arabiaon the other hand, would showcase the fastest CAGR of 10.5% from 2022 to 2031.
Leading Market Players-
- Bayer AG
- Biotest AG
- CSL Limited
- Fusion Healthcare Pvt. Ltd.
- Grifols, SA
- Kedrion Biopharma Inc.
- LFB SA
- Octapharma AG
- Takeda Pharmaceutical Co., Ltd.
The report analyzes these key players in the global middle east blood plasma derivatives market. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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