India Plasma Fractionation Market Size, Share, Trends Forecast by 2028
The India plasma fractionation market size is anticipated to hit USD 470.6 million by 2030 and exhibit a CAGR of 4.2% during the forecast period. The growing prevalence of immune-deficiency disorders and the expanding geriatric population are expected to be the key factors driving the market growth. Fortune Business InsightsTM has presented this information in its report titled, “India Plasma Fractionation Market, 2021-2030”. The market size stood at USD 331.7 million in 2020 and USD 326.3 million in 2021.
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Growing Prevalence of Immune-Deficiency Disorders to Fuel Market Growth
The increasing prevalence of immune-deficiency disorders is expected to boost plasma protein adoption across India, which, in turn, is anticipated to surge the demand for plasma fractionation. Additionally, the coronavirus pandemic has struck India immensely. The high number of hospitalizations and unprecedented demand for plasma have provided significant traction to the market.
The rising demand for coagulation factors is projected to benefit the market. Coagulation factors are proteins present in plasma that aid in bleeding disorder treatment. A large number of cases of hemophilia has been observed in recent years, and the numbers are expanding. Therefore, this is expected to magnify the India plasma fractionation market share. However, the low availability of plasma domestically may hinder the market growth during the forecast period.
Research Methodology:
We follow a robust research methodology that involves data triangulation based on top-down, and bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country levels is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
COVID-19 Significantly Impact the Market
The coronavirus pandemic has stimulated the India plasma fractionation market growth. The escalating cases of coronavirus infections and their high plasma & antibodies adoption have further boosted the market development. The high demand for antibodies led major market players to adopt various strategies to cater to the unprecedented demand. For instance, in July 2021, the Indian Council of Medical Research’s Fourth National Serosurvey revealed that approximately 68% Indian population possesses antibodies against COVID-19.