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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Plasma expanders are blood volume replacement fluids used for treating hypovolemia or decreased blood volume. They work by pulling water into the circulatory system from surrounding tissues to increase blood volume and blood pressure. There are various types of plasma expanders available including dextran, hydroxyethyl starch, and human albumin. Plasma expanders are advantageous over blood transfusion as they are easier to store and carry minimal risk of infectious disease transmission. The growing prevalence of hypovolemic shock, trauma, surgery, and other conditions requiring increased plasma volume is driving the need for plasma expanders.
Market key trends:
One of the key trends in the plasma expander market is the introduction of new synthetic colloids. Several new plasma expander formulations based on succinylated gelatin, pegylated albumin, dendrimer-based plasma volume expander are under development and clinical trials. These new synthetic colloids aim to provide similar efficacy as previous generations with improved safety profiles. Additionally, rising surgical procedures globally is also fueling the demand for intraoperative plasma volume replacement therapies. Developing regions with high unmet medical needs are expected to create lucrative growth opportunities for plasma expander manufacturers over the forecast period.
Threat of new entrants: The threat of new entrants in the plasma expander market is moderate as the market requires extensive R&D and clinical trial investments.
Bargaining power of buyers: The bargaining power of buyers in the plasma expander market is high as the products are medical necessities and buyers can easily switch between different brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate since they can influence prices, but the production of plasma expanders requires specialized machinery and production facilities.
Threat of new substitutes: The threat of substitutes is low as plasma expanders have limited substitutes and newer substitutes require strong FDA approvals.
Competitive rivalry: High as the market is dominated by few global players.
The global Plasma Expander Market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing cases of chronic diseases, trauma injuries, and rising plasma usage.
Regionally, North America dominated the plasma expander market in 2023 and is expected to maintain its leading position during the forecast period. Factors such as increased healthcare spending, availability of advanced healthcare facilities, and rising incidence of chronic diseases in the US and Canada are supporting market growth. Asia Pacific is anticipated to witness fastest growth due to rapidly growing healthcare infrastructure, rising medical tourism, and increasing per capita income in countries such as China and India.
Key players operating in the plasma expander market are 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, Macopharma.
- Source: Coherent Market Insights, Public sources, Desk research
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