by The plasma expander market has witnessed significant growth in the recent years on account of the widening applications of synthetic colloids such as hydroxyethyl starch (HES) in clinical care. Plasma expanders are intravenous volume replacement solutions used for fluid resuscitation and increasing blood volume in patients with hypovolemia. HES and other synthetic colloids are increasingly used over albumin as plasma expanders owing to their lower cost and perceived efficacy. The global plasma expander market is estimated to be valued at US$ 32.58 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global Plasma Expander Market Share are Asahi Kasei Pharma Corporation, Weldon Biotech Inc., Abbexa Ltd., Laboratory Corporation of America, Biocompare, EFK Diagnostics, Elabscience Biotechnology Inc., Abbot, Diazyme Laboratories Inc., Abnova Corporation, BSBE, Maccura Biotechnology Co.,Ltd., LifeSpan BioSciences Inc., Biomatik, Geno Technology Inc., AMS Biotechnology (Europe) Limited, Epinex Diagnostics Inc., and DxGen Corp.
The key opportunities in the market include refining the composition and formulation of synthetic colloids to improve safety, expanding manufacturing capacities to cater to growing demand, and obtaining regulatory approvals for new plasma expanders.
The plasma expander market is witnessing increased globalization with major players focusing on geographic and production facility expansion strategies. There is growing research and development into new plasma expanders, particularly albumin-based and blood-derived products.
Market Drivers
One of the key drivers for the plasma expander market is the widening applications of Hydroxyethyl starch (HES) in critical care. HES is increasingly being used intravenously to treat hypovolemia associated with hemorrhage, burns, gastrointestinal losses, and renal diseases. Compared to albumin, HES provides comparable volume expansion at a much lower cost, driving its higher adoption. Moreover, the ability of HES to remain within the vascular space for longer durations than crystalloids enhances its efficacy as a plasma expander.
PEST Analysis
Political: The regulations regarding the manufacturing and clinical trials of plasma expanders may impact the market. Stringent rules by regulatory bodies can affect the approval and commercialization of new products.
Economic: The cost incurred in R&D and manufacturing of plasma expanders is high. Availability of sufficient healthcare expenditure influences the demand for these products. Growing per capita income increases the accessibility of treatment procedures requiring plasma expanders.
Social: Rising incidence of trauma cases, accidents and life-threatening conditions favors the adoption of plasma expanders for critical care. Growing geriatric population suffering from chronic diseases propels the need for effective volume replacement therapies.
Technological: Advancements in plasma fractionation techniques aid in developing novel plasma volume replacement solutions with minimum side effects. Researchers are investigating alternative sources like human serum albumin and polymer-based expanders to overcome limitations of current collagen-based and gelatin-based products.
The Plasma Expander market in terms of value is concentrated majorly in North America and Europe. North America accounted for the largest share owing to developed healthcare infrastructure and high adoption of advanced treatment methods.
The Asia Pacific region is emerging as the fastest growing market for Plasma Expanders. Rising healthcare spending, growing incidence of trauma cases and improving access to modern medical technologies are driving the market growth in developing nations like India and China. Improving reimbursement scenario and increasing collaborations between local players and international market participants also supports market expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
