Platelet and Plasma Market Analysis

Platelet and Plasma Market Analysis

Increasing demand for blood transfusion procedures in Europe will propel the market growth over the forecast period. Recent years have seen an upsurge in number of blood banks in European countries to full fill the growing demand for platelet and plasma that stimulates the market growth. Blood transfusion in these countries is often a part of specialized healthcare system. For instance, in Norwegian hospitals there are currently more than 60 blood banks that provide all blood components including platelet and plasma. Numerous blood donations occur at accredited and certified blood banks. This will drive the market growth over the projected timeline.

Also, according to the World Health Organization (WHO), every year more than 115 million units of donated blood are collected worldwide and around 42% of these are collected in high-income nations of America and Europe. Increasing number of blood donation camps will significantly propel the market demand over forecast period.

The platelet market accounted for nearly USD 4.1 billion value in 2019, owing to the growing number of trauma cases and road accidents. Platelets play a critical role during surgeries and help in formation of blood clots to prevent excess bleeding.
 

Use of platelets and its derivatives for quick healing in various surgical procedures such as cardiothoracic surgery, maxillofacial diseases, and other musculoskeletal diseases is increasing globally. They are also used prominently in various orthopedic treatments such as total knee arthroplasty, osteoarthritis of shoulder, bone and ligament regeneration as well as soft tissue healing. This is anticipated to drive the segmental growth.
 

Hemophilia segment accounted for around 5.5% market share in 2019 and will witness significant market growth over the forecast period. The growth is attributed to increasing number of traumatic injuries leading to hemorrhage and imbalance of body hemostatic mechanism. Such factors will increase demand for blood transfusion leading to segmental growth. Hemophilia is more prevalent in patients with history of easy bleeding and bruising followed by surgery and is genetically transferred from one generation to another that will further augment the market growth.
 

Hospitals accounted for around 62% market share in 2019 and is estimated to grow significantly over the coming years. The growth of this segment is attributed to the higher availability of blood components such as platelet and plasma in hospitals, thus boosting the segmental growth.
 

The growth of the segment is also attributed to the growing number of surgeries that require blood transfusion. These procedures are mostly performed in hospital settings, thereby fostering the segment growth. Additionally, increasing number of well-established hospitals coupled with rising healthcare coverage is a positive impact rendering factor for the market growth.
 

North America platelet and plasma market is anticipated to hold a significant market share in 2019 and will witness over 1.5% CAGR during the analysis period. Regional growth is primarily attributed to favorable regulations pertaining to use of platelet and plasma derived products. Also, increasing number of patients suffering from obesity, cancer, cardiothoracic disorders as well as growing incidences of neurological conditions will increase the demand for platelet and plasma, thereby propelling the regional market growth.
 

Moreover, rising healthcare expenditure and various initiatives by organizations such as setting-up blood donation campaigns will further boost the regional market growth.