Plasma Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Plasma Therapy Market: Overview
Convalescent plasma therapy (CPT), more popularly plasma therapy, is gained groundswell of attention in the healthcare industry for its potential in treating COVID-19 cases, propelling the expansion in the plasma therapy market. Caused by SARS-CoV-2, COVID-19 has claimed millions of lives worldwide. In the absence of vaccine, countries have pinned high hopes on plasma therapy. In recent months, plasma therapy has been used in in China and South Korea. The verdict is not yet out. Having said that there has been a proliferation of research studies and clinical trials at hospitals efficacy of convalescent plasma as an emergency therapy, since there is a marked lack of potentially effective antiviral therapies against COVID-19. This is propelling the strides in the plasms therapy market. In some cases, particularly in severely ill with COVID-19, plasma therapy is considered as the only hope. Donation of plasma is done from fully recovered patients by plasmapheresis, and transfusion of separated plasma from whole blood of such patients.
The study offers a critical assessment of key growth dynamics, emerging clinical avenues, investment trends in key regional markets, and the competitive landscape in various regions, and strategies of top players. The assessments also offer insight into the share and size of various segments in the plasma therapy market.
Plasma Therapy Market: Key Trends
The demand for reducing mortality rate is a key undercurrent in the interest of plasma therapy, since the therapy was effective earlier in similar viral infections. Examples are during the outbreak of SARS, H1N1, and MERS—which was the most recent one in 2012. A growing body of exploratory studies on SARS and severe influenza has reiterated the role of plasma therapy in reducing the clinical symptoms and sometimes the mortality rate after CP transfusion. All these results pains a canvas for players for the expansion of the plasma therapy market.
Over the years, a number of phylogenetic and molecular sequencing-based studies have underlined the similarity of COVID-19 with SARS and MERS viruses. The growing use of CP therapy along with systemic corticosteroids is boosting the plasma therapy market. In future, more studies are imperative with adverse events caused by CP therapy.
Plasma Therapy Market: Competitive Dynamics
A growing number of studies in recent years in developed countries and some in Asian nations have aimed to evaluate the life-saving effect of CPT in Covid-19 disease. Notable examples are REMAP-CAP and RECOVERY trials. Patients enrolled were COVID-19 patients but not harbouring any infections for more than 28 days. Researchers also ensure that the study participants were not pregnant or had transfusion-transmitted diseases during the time of the study.
Another example was an interim analysis of 316 patients at Houston Methodist hospitals from March to July 2020 involving critically ill or severe patients. The plasma therapy has also benefitted from the regulatory push in developed nations. A case in point is the U.S. Food and Drug Administration making pathways for the study of COVID-19 convalescent plasma therapies.
Plasma Therapy Market: Regional Assessment
The plasma therapy is seeing vast potential in North America and Asia. The remarkable surge in the COVID 19 cases in the U.S. has led to proliferation of registered clinical trials assessing the efficacy of CPT in COVID 19 and similar viral infections. Rise in COVID-19 interventional clinical trials across North America and Asian countries such as China has helped the global plasma therapy marke
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