Global Plasma Expander Market Is Estimated To Witness High Growth Owing To Rising Demand for Blood Transfusions
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Plasma Expander Market |
The
global Plasma Expander Market is estimated to be valued at US$ 28.28 Billion In 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period
2023-2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Plasma expanders are solutions used to increase the volume of blood plasma in
order to improve blood circulation. They are widely used in medical procedures
such as blood transfusions, organ transplants, and surgeries. The main
advantage of plasma expanders is their ability to enhance blood flow and
restore blood pressure, which is crucial in critical conditions where patients
may suffer from acute blood or fluid loss. Thus, plasma expanders play a vital
role in maintaining hemodynamic stability and ensuring optimal patient care.
Market Key Trends:
One key trend in the global Plasma
Expander Market is the rising demand for blood transfusions. Blood
transfusion is a common medical procedure used to replace lost blood or treat
certain conditions such as severe anemia or bleeding disorders. With the
increasing prevalence of chronic diseases and trauma cases, the need for blood
transfusions has been on the rise. This has led to a significant demand for
plasma expanders, as they are essential in maintaining blood volume during
transfusions.
For example, in emergency situations such as accidents or surgeries, patients
often require immediate blood transfusions to replace lost blood. Plasma
expanders are used to maintain adequate blood pressure and prevent hypovolemic
shock in these cases. This trend is expected to drive the growth of the Plasma
Expander Market during the forecast period.
PEST Analysis:
Political: The regulatory environment plays a crucial role in the Plasma
Expander Market. Government regulations and policies regarding the production,
distribution, and use of plasma expanders can significantly impact market
dynamics.
Economic: The economic factors affecting the Plasma Expander Market include
healthcare expenditure, insurance coverage, and government healthcare policies.
These factors influence the affordability and accessibility of plasma
expanders, which in turn affect market growth.
Social: The social factors influencing the Plasma Expander Market include the
aging population, increasing prevalence of chronic diseases, and awareness
about the importance of blood transfusions. These factors contribute to the
rising demand for plasma expanders.
Technological: Technological advancements in plasma expanders, such as the
development of new formulations and improved storage solutions, have a
significant impact on market growth. These advancements enhance the efficacy
and safety of plasma expanders, thereby driving their adoption.
Key Takeaways:
- The global Plasma Expander Market is expected to witness high growth,
exhibiting a CAGR of 6.7% over the forecast period, due to increasing demand
for blood transfusions.
- The Asia-Pacific region is expected to be the fastest-growing and dominating
region in the Plasma Expander Market, driven by the growing healthcare
infrastructure and rising patient population.
- Key players operating in the global Plasma Expander Market include Baxter
International Inc., Fresenius SE & Co. KGaA, CSL Limited, Grifols, S.A., B.
Braun Melsungen AG, Hikma Pharmaceuticals PLC, Octapharma AG, Kedrion S.p.A.,
Shanghai RAAS Blood Products Co., Ltd., Terumo Corporation, JW Life Science,
Celgene Corporation, Pentapharm Ltd., Haemonetics Corporation, and Macopharma.
In conclusion, the global Plasma Expander Market is projected to experience
substantial growth in the coming years. The rising demand for blood
transfusions and the need for maintaining blood volume during emergency
situations are key drivers of market growth. Additionally, factors such as
government regulations, economic factors, social dynamics, and technological
advancements will shape the future of this market. The Asia-Pacific region is
expected to emerge as a prominent market in the coming years, driven by the
growing healthcare infrastructure and rising patient population. Key players in
this market are focused on research and development activities to develop
advanced and innovative plasma expanders to cater to the increasing demand.
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