Platelet and Plasma Market size is set to exceed USD 6.5 billion by 2024; according to a new research report by Global Market Insights. In recent times, platelet and plasma market has procured a position much bigger than anticipated, predominantly on account of the increasing prevalence of chronic blood related diseases like thrombocytopenia, hemophilia, leukemia, and the like. According to CDC’s estimates, nearly 1 out of 5000 male births in America fall prey to Hemophilia. Also, around 400 babies are born with Hemophilia in the U.S. annually. The basic treatment for patients affected with hemophilia A or B is replacement therapy i.e. replacing the specific missing plasma by blood transfusion, which itself stands as a testimony to the commendable scope platelet and plasma market holds in the U.S.
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The incidence of immune thrombocytopenia among U.S. adults is also quite alarming – approximately 3.3 per 100,000 adults in a year. As per experts’ opinion, platelet transfusion, in the true sense, has brought a disruption in the treatment of hypoproliferative thrombocytopenia. In fact, American Academy of Neurology even claims that plasma can be used for treating various neurological disorders as well. Ergo, it can be stated that platelet and plasma industry’s penetration in the healthcare space has changed the conventional therapeutic model in ways more than one. The aforementioned estimates vividly depict the humongous growth prospect of U.S. platelet and plasma market, which dominated the overall business space in 2017 with 34% of the global share.
As mentioned above, platelet transfusion has immensely contributed to the revolutionary hypoproliferative thrombocytopenia treatment for patients affected with hematological malignancies and cancer. Undeniably it has left a parallel impact on overall platelet and plasma market share. However, it is worth mentioning that despite the long term application scope of platelet transfusion, all aspects of their optimal usage have not been exploited yet. Incidentally, this has created novel growth opportunities for research fellows and core companies operating in platelet and plasma market to unlock its potential in unexplored arenas. One such area that is presently grabbing the attention is platelet transfusion in cases of ABO and/or RhD incompatibility.
Decades back, ABO-incompatibility in platelet transfusion was not considered a hindrance in normal response. In fact, ABO-mismatched platelet transfusion was very much in practice for a long period. However, the issue became apparent when ABO incompatibility between donor and recipient ultimately led to a deterioration in the effectiveness of the transfusion and its adverse impact on the recipient. As per the latest study, ABO- compatible platelet transfusion is claimed to be the safest and most effective approach present today in platelet transfusion practice.
In fact, proper identification of high-risk patients and their treatment by ABO-identical platelets transfusion has shown better results, cite experts. In case of negligible ABO-incompatibility, single donor platelet concentrates or random donor platelets concentrates from A2 “universal” PLT donors might be other alternative approach. These extensive research work coherently validates the underlining expansion of platelet and plasma industry over the recent years. As per estimates, platelets segment having reigned the overall business space in 2017 with USD 3.6 billion revenue, would continue to dominate platelet and plasma market over the ensuing years.
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Probably driven by the popularity of these techniques and their massive deployment in treating chronic diseases, platelet and plasma market is characterized by a strong regulatory framework. The FDA takes it upon itself to reject or approve any new device that debuts in the market. Recently the U.S. FDA has given a green signal to new drug that could treat thrombocytopenia in adults. Dubbed as Doptelet, this new drug is likely to improve the platelet count of patients suffering from chronic liver diseases. Reportedly, this is the first FDA approved drug in platelet and plasma industry in this genre. All in all, with the continuous onboarding of such technologically advanced plasma and platelet products in tandem with growing precedence of blood associated diseases, platelet and plasma market is set to exceed a valuation of USD 6.5 billion by 2024.
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