Global Plasma Therapy Market Opportunities And Strategies
The global plasma therapy market is expected to grow from $187.67 million in 2019 to $246.95 million in 2020 at a compound annual growth rate (CAGR) of 31.6%. The growth is mainly attributed to the COVID-19 outbreak and the urgent need to treat a growing number of cases. The use of convalescent plasma collected from individuals who have recovered from COVID-19 is one investigational treatment being explored for COVID-19. The market is then expected to stabilize and grow at a CAGR of 5.7% to reach 291.6 million in 2023. An increase in the prevalence of osteoarthritis is expected to drive the plasma therapy market. The high cost of plasma therapy is expected to hinder the market.
The plasma therapy market consists of revenues generated by the companies that are engaged in selling and manufacturing plasma therapy products and related services. Plasma therapy is a technique where high concentrations of plasma are transfused or injected to patients to facilitate the healing process. Plasma therapy is frequently used for facial rejuvenation, androgenetic alopecia, and wound healing among others.
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The global plasma therapy market is further segmented based on type and geography. By Type: Pure PRP, Leukocyte-rich PRP, Pure Platelet-rich Fibrin (PRF), Leukocyte-rich Fibrin (L-PRF) By Application: Orthopedics, Arthritis, Chronic Tendinitis, Bone Repair & Regeneration, Dermatology, Androgenic Alopecia, Plastic Surgery, Dental, Cardiac Muscle Injury, Others By Geography: The global plasma therapy market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American plasma therapy market accounts for the largest share in the global plasma therapy market.
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Trends In The Plasma Therapy Market
Convalescent plasma therapy, to treat patients suffering from COVID-19. is a leading trend in the plasma therapy market. Convalescent plasma is the plasma extracted from the individuals who have been cured of a particular viral infection, as they have antibodies that protect and make them immune to that particular organism. The convalescent plasma is transfused to the patient who is suffering from the viral infection to neutralize the viral infection and induce the active immune response to cure the infection.
Plasma Therapy Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides plasma therapy market overviews, analyzes and forecasts plasma therapy market size and growth for the global plasma therapy market, plasma therapy market share, plasma therapy market players, plasma therapy market size, plasma therapy market segments and geographies, plasma therapy market trends, plasma therapy market drivers and plasma therapy market restraints, plasma therapy market’s leading competitors’ revenues, profiles and market shares. The plasma therapy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.