India Platelet and Plasma Market to Surpass $ 212 Mn by 2024

March 11, 2020


As per the report titled ‘India Platelet and Plasma Market Size By Component, Application, Distribution Channel, Application Potential, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, India platelet and plasma market is projected to cross USD 212 million by the year 2024.
 

Increasing number of patients suffering from rare diseases is augmenting the demand for platelet and plasma therapy in India. It is estimated that approximately 70 million people in India suffer from a rare disease, as stated by the Foundation for Research on Rare Diseases and Disorder. Mounting cases of bleeding and plasma disorders will increase the demand for advanced plasma protein therapies across the region.
 

Government initiatives encouraging blood donation and plasma protein therapies for treatment of rare diseases is another key factor driving India platelet and plasma market share. Furthermore, improving blood bank infrastructure will further expand the business landscape. On the other hand, stringent regulatory norms regarding these therapies may hinder the market growth in the coming years.
 

Platelets accounted for a revenue share of 66% of the overall India platelet and plasma market in 2017 and is expected to follow similar trends during the study period. The growth can be credited to the surging demand for blood plasma in surgical procedures, in tandem with increasing incidences of road accidents where the patient suffers from severe blood loss.
 

Speaking of the application spectrum, India platelet and plasma market is fragmented into hemophilia, thrombocytopenia, platelet function disorders, perioperative indications, coagulation factor deficiencies, thrombotic thrombocytopenia purpura, hemorrhage, and liver disease.  Hemophilia segment was worth USD 9 million in 2017 and is expected to grow considerably during the forecast period. The demand is driven by the increasing cases of hemophilia in the region, coupled with the growing availability of advanced therapies and treatments for patients with a medical history of hemophilia.
 

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In terms of distribution channel, India platelet and plasma market is categorized into hospitals and ambulatory surgical centers. Hospitals segment is projected to register a growth of 3.3% over 2018-2024.. Soaring hospital admission rate on account of rising prevalence of rare genetic and chronic diseases such as cancer which require blood transfusion during surgeries is driving the segment growth.
 

Major players in India platelet and plasma market include Harvest Terumo BCT, Exactech, PlasmaGen Biosciences, Nuo Therapeutics, Johnson & Johnson, Regen lab SA, Zimmer Biomet Holdings, Stryker, and Indian Red Cross Society. These companies are undertaking various strategies including M&As, product expansion, etc. to improve their stance in the regional landscape.


Frequently Asked Questions (FAQ) :

Increasing number of patients suffering from rare diseases coupled with favorable government initiatives towards blood donation and plasma protein therapies is augmenting the demand for platelet and plasma therapy in India.
Rising number of surgical procedures in tandem with increasing incidences of road accidents where the patient suffers from severe blood loss will fuel the regional platelet therapy demand.
Soaring hospital admission rate on account of rising prevalence of rare genetic and chronic diseases such as cancer which require blood transfusion during surgeries further fueling the demand from hospitals.
Major market players include Harvest Terumo BCT, Exactech, PlasmaGen Biosciences, Nuo Therapeutics, Johnson & Johnson, Regen lab SA, Zimmer Biomet Holdings, Stryker, and Indian Red Cross Society.