(EMAILWIRE.COM, June 18, 2019 ) The plasma fractionation market is projected to reach USD 34.9 billion by 2024 from USD 25.4 billion in 2019, at a CAGR of 6.6% during the forecast period. Market growth can be attributed to factors such as growing use of immunoglobulins in various therapeutic areas, rising geriatric population across the globe, the growing prevalence of respiratory diseases and AATD driving the uptake of alpha-1-antitrypsin, and increase in plasma collection. The indications for plasma products are also being expanded, which is expected to support market growth in the coming years. Another key trend in this market is the rising installation of fractionators in plasma collection centers.

In order to meet this growing demand, companies are focusing on increasing their plasma collection and fractionation capacities. In recent years, the use of recombinant factors has increased, and major plasma fractionators have started the development and manufacturing of recombinant factors along with plasma fractioned products. As China is presently the fastest-growing market, players are focusing on enhancing their presence in the Chinese market to increase their market shares and strengthen their market positions.

The plasma fractionation market is segmented based on products, application, end user, and region.

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On the basis of product, immunoglobulin market is expected to hold the largest share in 2019. This market is further classified into intravenous immunoglobulin, subcutaneous immunoglobulin, and other immunoglobulin.

On the basis of application, the plasma fractionation market is segmented into neurology, immunology, hematology, critical care, pulmonology, hemato-oncology, rheumatology, and other applications.

On the basis of end user, the plasma fractionation market is segmented into hospitals & clinics, clinical research laboratories, and academic institutes. Hospitals & clinics form the major end user in this market.

Geographically, the plasma fractionation market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America is expected to hold the largest share in 2019.

This is primarily attributed to the growing geriatric population, and the increasing prevalence of respiratory diseases and AATD, and several innovations in manufacturing processes (e.g. improvement of yield), product developments (e.g. such as subcutaneous IG, IVIg 10% concentration, and IVIg liquid presentation), presence of advanced virus removal technologies (such as nanofiltration), and the development of newer plasma products such as ceruloplasmin and IgA are also supporting the growth of the plasma fractionation market in this region.