-- Growing inclination of people suffering from rare diseases towards platelet and plasma therapy will augment India industry during forecast years. According to Foundation for Research on Rare Diseases and Disorder, around 70 million people in India suffer from a rare disease. Rare diseases interrupt normal body functioning and may result in depletion of platelets. Growing number of patients suffering from bleeding and plasma related disorders leads to increasing demand for advanced plasma protein therapies to treat disease that proves beneficial for industry growth.
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According to the Graphical Research new growth forecast report titled “India Platelet and Plasma Market Size By Component (Platelets, Plasma), By Application (Hemophilia, Thrombocytopenia, Perioperative Indications, Platelet Function Disorders, Coagulation Factor Deficiencies, Thrombotic Thrombocytopenic Purpura, Hemorrhage, Liver Disease), By Distribution Channel (Hospitals, Ambulatory Surgical Centers), Estimated To Exceed USD 212 Million By 2024”, estimated to exceed USD 212 million by 2024.
Government initiatives for increasing awareness regarding blood donation will positively impact industry growth. National organizations are involved in creating awareness regarding use of lifesaving plasma protein therapies in treatment of rare disease. This scenario proves beneficial for the industry growth as it increases the demand for blood plasma and platelets. However, stringent regulatory landscape may hamper industry growth to some extent in near future.
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Platelets segment held more than 66% revenue share in 2017 and will witness lucrative CAGR from 2018 to 2024. Significant growth can be attributed to increasing number of surgical procedures that requires blood plasma. Moreover, mounting number of road accidents will create demand for blood components such as platelets and plasma as the patients experience severe blood loss. Aforementioned factors are projected to drive the segmental growth.
Hemophilia segment was valued around USD 9 million in 2017 and is anticipated to grow significantly throughout the analysis period. Increasing prevalence of hemophilia has boosted the demand for PRP therapies. Further, growing awareness regarding availability of advanced therapies and treatment in patient with history of hemophilia has resulted in reduced mortality rate thereby, boosting segmental growth.
Hospitals segment accounted for substantial revenue in 2017 and will show robust 3.3% growth over the analysis timeframe. Rising prevalence of rare genetic and other chronic diseases amongst the Indian population has elevated the hospital admission rate over the past few years. Chronic conditions such as cancer requires blood transfusion during surgical procedures that should impel segmental growth.
Key players operating in India platelet and plasma market include Exactech, Harvest Terumo BCT, PlasmaGen Biosciences, Johnson & Johnson, Nuo Therapeutics, Regen lab SA, Stryker, Zimmer Biomet Holdings, Indian Red Cross Society. These industry players adopt several strategic initiatives such as mergers and acquisitions that industry players are taking several initiatives to gain market share. Blood banks are also involved in providing blood units to patients suffering from blood loss. In August 20, 2017, Indian red cross society provided 200 units of blood to treat injured patients that were affected when 14 coaches of the Puri-Haridwar Utkal Express derailed in Khatauli, in Meerut. Providing blood to patients help blood banks to earn sustainable profits.
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Segments we cover:
India Platelet and Plasma Market, By Component
Plasma
Platelet
India Platelet and Plasma Market, By Application
Hemophilia
Thrombocytopenia
Perioperative indications
Platelet function disorders
Coagulation factor deficiencies
Thrombotic thrombocytopenic purpura
Hemorrhage
Liver disease
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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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Name: Parikhit B.
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Organization: Graphical Research
Website: https://www.graphicalresearch.com/industry-insights/1165/india-platelet-and-plasma-market
Release ID: 88910720
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