Global Convalescent Plasma Therapy Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
3 Dec, 2021
Global Convalescent Plasma Therapy Market Size And Drivers:
The global convalescent plasma therapy market is expected to grow from $26 million in 2020 to $28 million in 2021 at a compound annual growth rate (CAGR) of 7.7%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The convalescent plasma therapy market is expected to reach $50 million in 2025 at a CAGR of 16%. Higher efficacy and safety evaluated during the trials conducted for CPT in COVID-19 patients can drive the market growth during the forecast period.
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Trends In The Global Convalescent Plasma Therapy Market
The development of antibody-based immunotherapy as a potential therapeutic intervention for COVID-19 shows opportunities for the convalescent plasma therapy market. Convalescent plasma therapy utilizes the antibodies produced against coronavirus by the donor to improve the immunity of the recipient. Companies are initiating trials, collaborating and investing for antibody-based COVID-19 therapy. In April 2020, GSK entered into a collaboration with Vir Biotechnology and invested $250 million in Vir to support the development of anti-viral antibody-based solutions against novel coronavirus. In April 2020, Biomedical Advanced Research Development Authority (BARDA) partnered with Emergent BioSolutions to fund $14.5 million to support the development of human plasma-derived therapy which is COVID-Human Immune Globulin (COVID-HIG) for treating COVID-19 in severe hospitalized and high-risk patients. In April 2020, global plasma companies like CSL Behring, Takeda Pharmaceutical Company Limited, Biotest, BPL, LFB, and Octapharma collaborated to develop plasma-derived COVID-19 Hyperimmune Therapy. As convalescent plasma therapy utilizes antibodies, the focus over antibody-based COVID-19 therapy is expected to boost the market growth.
Global Convalescent Plasma Therapy Market Segments:
The global convalescent plasma therapy market is further segmented –
By Application: Prophylaxis, Treatment
By End-Users: Hospitals & Clinics, Laboratories & Research Institutes
By Antibody Type: IgM, IgG, IgA
By Geography: The global convalescent plasma therapy market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/convalescent-plasma-therapy-market-global-report-2020-30-covid-19-implications-and-growthConvalescent Plasma Therapy Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides convalescent plasma therapy market overviews, analyzes and forecasts market size and growth for the global convalescent plasma therapy market, convalescent plasma therapy market share, convalescent plasma therapy market players, convalescent plasma therapy market segments and geographies, convalescent plasma therapy market’s leading competitors’ revenues, profiles and market shares. The convalescent plasma therapy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.