As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the India Blood Plasma Products industry.
New Industry Report on India Blood Plasma Products Market Status and Prospects [2023-2032] has been released. The report is 100 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request Free a Sample Copy
The blood plasma products market has been experiencing steady growth over the past few years. The market increased at a CAGR of 11.26% during the FY 2016 to FY 2020 period and is expected to reach INR 10.43 Billion by FY 2025.
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Plasma is a major component of the blood that plays an essential role in regulating bodily functions. It constitutes around 55% of the total volume of blood, and comprises more than 700 proteins and other substances. It is a major component used in the treatment of health problems such as haemophilia and autoimmune disorders. Improved diagnostic facilities and the prevalence of chronic diseases are major factors that have raised the demand for plasma-derived products.
The immunoglobulin segment accounted for the major share of the market in 2020 and is projected to maintain its leading position during the forecast period.
Major players operating in the market include Bharat Serums and Vaccines Ltd. (BSV), Intas Pharmaceuticals Ltd., PlasmaGen BioSciences Private Ltd., Serum Institute of India Private Ltd., and Zydus Takeda Healthcare Private Ltd.
Impact of COVID-19
The pandemic in India increased the need for convalescent measures, therapies, and cures for the ailing public. COVID-19 outbreak has pushed scientists to experiment with plasma therapy on infected people with the virus. This COVID-19 crisis highlighted the need for a massive supply of blood plasma for convalescent measures and treatments. Besides, India is heavily dependent on imported plasma products. These products fulfil 90% of the domestic demand, giving rise to a massive gap between demand and supply.
Market segment insights
In FY 2020, the immunoglobulin segment held the highest share (~46.78%) of the overall market. Immunoglobulin is used to treat various blood disorders such as primary and secondary immune deficiencies, and inflammatory and autoimmune diseases. Based on end users, the hospital segment dominated the market in FY 2020. Clinics and other end users segments are expected to expand at a growth rate of ~17.90% and ~24.77%, respectively, during the FY 2021 to FY 2025 period.
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Key growth drivers of the market
The demand for plasma derivative-based therapies has picked up in the wake of the pandemic, propelling market growth. According to a research study published in Blood Medicine Journal in 2016, FIX replacement therapy that comprises plasma-derived protein was found to be successful in reducing bleeding and disability in case of hemophilia B. According to the annual global survey conducted by the World Federation of hemophilia, around 50% of the world’s hemophilia population lives in India. Hemophilia is treated through factor replacement therapy, using clotting factor VIII for hemophilia A and clotting factor IX for hemophilia B Immunodeficiency can be caused by various chronic illnesses. Immunoglobulin, a crucial part of plasma protein, is used as first-line therapy to treat various immunologic, neurologic, and hematologic conditions. India has shown a remarkable improvement in patient care with Primary Immune Deficiencies (PIDs), and several centers of excellence in PIDs have emerged. Thus, an increase in the demand for immunoglobulin is fueling the growth of the market
Key deterrents to the growth of the market
Plasma derivative-based therapy is a cost-effective solution to develop human plasma products such as antibodies and proteins in the long run. It is an expensive procedure that involves the complicated process of collecting plasma, which requires a large workforce. The cost of plasmapheresis equipment, complex logistics, and donor compensation are very high. Apart from that, low availability of recovered plasma is another major challenge faced by plasma product manufacturers.
Companies covered
Bharat Serums and Vaccines Ltd. (BSV)
Bioviz Technologies Private Ltd.
Intas Pharmaceuticals Ltd.
PlasmaGen BioSciences Private Ltd.
Plasmatech Solutions Private Ltd.
Reliance Life Sciences Private Ltd.
Serum Institute of India Private Ltd.
Taj Pharma India Ltd.
Virchow Biotech Private Ltd.
Zydus Takeda Healthcare Private Ltd.
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for India Blood Plasma Products. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for India Blood Plasma Products is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
Regional Analysis
Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments’ initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the India Blood Plasma Products Market Report:
- What is the projected size of the India Blood Plasma Products market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the India Blood Plasma Products industry?
- What are the major market trends that are affecting the expansion of the India Blood Plasma Products market?
- What obstacles must be overcome in order to achieve sustained growth in the India Blood Plasma Products market?
- What opportunities and threats do vendors in the India Blood Plasma Products Market face?
- What are the raw materials and manufacturing equipment used in the production of India Blood Plasma Products, and what is the manufacturing process?
- What are the different types and applications of India Blood Plasma Products, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the India Blood Plasma Products market?
- What factors are driving the growth of the India Blood Plasma Products market in the top regions worldwide?
- Who are the major players in the India Blood Plasma Products market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the India Blood Plasma Products market?
- What are the main findings of a five forces analysis of the India Blood Plasma Products market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our India Blood Plasma Products Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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