Platelet And Plasma Market by Component (Platelets, Plasma), Application (Thrombocytopenia, Hemophilia, Perioperative Indications, Coagulation Factor Deficiencies, Platelet Function Disorders, Other Platelet Applications, Hemorrhage, Coagulation Factor Deficiencies, Liver Disease, Thrombotic Thrombocytopenic Purpura, Others), Distribution Channel (Ambulatory Surgical Centers, Hospitals, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

Newark, NJ, Oct. 01, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global platelet and plasma market is expected to grow from USD 6 billion in 2019 to USD 7.2 billion by 2027, at a CAGR of 2.3% during the forecast period 2020-2027.

Some of the key factors that are fuelling the growth of this market are increasing number of blood transfusions, advancements in the development of therapeutic protein drugs, rising prevalence of liver diseases in the geriatric population, increasing use of plasma for disease treatment, and fair reimbursement policies in developed countries.

Platelets & plasmas are vital components used in the treatment of severe health conditions. Platelets are small components of the blood which form blood clots in order to stop the bleeding resulting from a cut or any other injury. Plasma is a liquid part of blood that transports proteins, hormones, and nutrients to various parts of the body.

With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets. However, covid-19 has given a boost to the platelet and plasma market. Currently, platelets and plasma from healed coronavirus patients are being collected. The extracted plasma is transfused into patients infected by COVID-19 and helps them heal faster and better. Some of the factors that are hindering the market growth are stringent regulatory policies and high cost.

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Key players operating in the global platelet and plasma market include the American Red Cross, French Red Cross, German Red Cross, Canadian Red Cross, Brazilian Red Cross, Indian Red Cross, Italian Red Cross, Red Cross Society of China, South African Red Cross Society, America’s Blood Centers, Saudi Red Crescent Authority, and European Blood Alliance among others. To gain a significant market share in the global platelet and plasma market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. The American Red Cross and the Canadian Red Cross are some of the most prominent players in the global market.

• For instance, OneBlood, a non-profit blood center, began gathering platelets and plasma from healed coronavirus patients in April 2020 during the COVID-19 pandemic. The extracted plasma is transfused into patients infected by COVID-19 and helps them heal. The active presence of the organization would support its branch growth.
• In April 2018, the redesigned RedCrossBlood.org website was relaunched by the American Red Cross. via enhanced content search, user-friendly interface, and advanced personalization, the strategy helped donors make donations more convenient. The launch was aimed at attracting more donors and gave the industry a boost.

Platelets dominated the market and valued at USD 3.64 billion in the year 2019

On the basis of component, the market has been segmented into platelets and plasma. Platelets dominated the market and valued at USD 3.64 billion in the year 2019. The use of platelets and their derivatives for rapid healing is growing globally in numerous surgical procedures such as maxillofacial diseases, cardiothoracic surgery and other musculoskeletal diseases. They are also used extensively in various orthopedic procedures like complete knee arthroplasty, shoulder osteoarthritis, bone & ligament repair, and soft tissue recovery. Factors like the increasing number of road accidents & trauma cases are also augmenting segment growth.

Hemophilia held a market share of 12.9% in the year 2019

Based on application, the global market has been divided into thrombocytopenia, hemophilia, perioperative indications, coagulation factor deficiencies, platelet function disorders, other platelet applications, hemorrhage, coagulation factor deficiencies, liver disease, thrombotic thrombocytopenic purpura, and others. Hemophilia held a market share of 12.9% in the year 2019 and is expected to register significant growth over the projected period. This growth is attributed to the rising number of traumatic injuries leading to hemorrhage & an imbalance in the hemostatic mechanism of the body. Hemophilia is more common in people with a history of bruising & bleeding followed by surgery, which is passed genetically from generation to generation.

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Hospitals dominated the market and valued at USD 3.7 billion in the year 2019

The distribution channel segment comprises of ambulatory surgical centers, hospitals, and others. Hospitals dominated the market and valued at USD 3.7 billion in the year 2019, owing to the increasing number of blood transfusion surgeries that are required to be performed in hospital settings.

Regional Segment Analysis of the Platelet and Plasma Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America) 
• Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global platelet and plasma market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 58.9% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as favorable government initiatives regarding the use of platelet & plasma-derived products, increasing number of patients suffering from cardiothoracic disorders, cancer, obesity, growing cases of neurological conditions, increasing healthcare expenditure, and increasing investment in blood storage infrastructure. The region is expected to grow at a rate of more than 3% over the projected timeframe. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2020-2027. This growth is due to factors like the increasing awareness for blood donation and the rapid development of healthcare infrastructure.

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About the report: 

The global platelet and plasma market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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