Rising Demand for Plasma Fractionation Drives the South Korean Healthcare Market

 

Plasma fractionation is a separation technique, which is employed to obtain plasma derivatives. There are different types of plasma derivatives available in the market. These include albumin and immunoglobulins. These products contain concentrated fractions of plasma protein, which is obtained by fractionation of plasma collected from a large number of donors. Furthermore, plasma derivatives are employed in different medical aspects such as hematology, neurology, and critical care. For instance, immunoglobulins are used in neurology to help patients suffering from multiple sclerosis and neuropathic pain. Furthermore, these products are extensively used in research laboratories and hospitals, owing to surge in awareness related to their use in various medical fields.

Surge in geriatric population across the globe, which is predisposed to various rare diseases that require use of plasma derivatives is the major factor that propels the market growth. Moreover, rise in use of immunoglobulins and alpha-1-antitrypsin in areas of medicine worldwide also fuels growth of the plasma fractionation market. Furthermore, surge in plasma collection centers worldwide is another major factor that contributes toward the growth of the market. In addition, favorable government support to spread awareness related to use of plasma derived products boost the growth of the plasma fractionation market. 

COVID-19 Impact Analysis:

COVID-19 pandemic has affected every industry worldwide. For instance, after COVID-19 was declared as a pandemic by the WHO, countries worldwide adopted nationwide lock-downs to observe social distancing as a measure to contain the spread. This lead to disruption, limitation, challenges, and changes in each sector of every industry. Similarly, the plasma fractionation industry was also impacted by the pandemic. For instance, the outbreak of COVID-19 pandemic has led to a decrease in number of blood donations and plasma collections, which hampers the plasma fractionation market as it leads to shortage of in raw material supply. However, this decrease in raw material supply was compensated by the fall in demand for plasma derivatives in the starting of nationwide lock-downs, as the elective surgical procedures were postponed and availability of treatment for other medical conditions was also hampered.

Leading Market Players:

The key players profiled in this report include Baxter International Inc., Bio product laboratory, Biotest AG, CSL Ltd., Grifols SA, Kedrion S.P.A (Kedrion Biopharma Inc.), LFB S. A., Octapharma AG, Sanquin Blood Supply Foundation, and Takeda Pharmaceutical Company Limited.