Sellbyville, DE -- (SBWIRE) -- 10/31/2018 -- Platelet and Plasma Market size is set to exceed USD 6.5 billion by 2024; according to a new research report by Global Market Insights.

Increasing prevalence of chronic diseases such as liver cirrhosis, non-alcoholic steato-hepatitis (NASH) hepatocellular carcinoma and other liver diseases will fuel the market growth during the foreseeable years. Liver diseases are the fifth most common cause of mortality across the world. According to American Association for the Study of Liver Diseases, in 2014, liver diseases such as alcoholic liver disease, viral hepatitis and nonalcoholic fatty liver disease affected more than 300 million people in China. Geriatric population is susceptible to various liver diseases owing to functional limitations growing with age. Growing cases of liver diseases coupled with rising geriatric population base will stimulate the demand for platelets and plasma for treatment of aforementioned liver diseases thereby augmenting the platelet and plasma market growth.

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Growing number of blood transfusions globally is another impact rendering factor for the growth of platelets and plasma market. According to European commission's 2017 annual report, more than 25 million units of blood and blood components were being issued for the purpose of transfusion in Europe. Blood transfusion is an essential medical procedure that plays a crucial role for supporting different healthcare specialties across the world. Isolation of blood components such as red blood cells, platelets, plasma and other essential components of blood is primarily done through blood transfuion. Increasing blood transfusions will consequently drive the platelets and plasma market over the forecast period. However, stringent regulatory policies pertaining to plasma collection and escalating price pressure will impede the market growth over the forecast period.

Plasma segment of platelet and plasma market accounted for more than 33% of industry share in 2017.The segment is forecasted to witness robust growth due to increasing prevalence of rare diseases such as hemophilia, hereditary angioedema, autoimmune diseases, and other infectious diseases. Use of plasma as the only therapeutic strategy available for treatment of certain diseases in case of unavailability of vaccines, drugs or other specific treatments will fuel the demand for plasma. For instance, use of plasma for treatment of Ebola virus during its outbreak in West Africa. Furthermore, use of plasma in patients suffering from burns, shock, trauma and other emergencies will augment the segment growth during the forthcoming years.

Hemophilia segment of platelet and plasma market accounted for a revenue of more than USD 320 million in 2017 and is estimated to grow considerably over the analysis period. Hemophilia is a bleeding disorder that prevents normal clotting of blood. According to National Hemophilia Foundation, more than 4,00,000 people across the world suffered from hemophilia in 2017. Around 75% of patients with hemophilia have no access to treatment or receive inadequate treatment. Use of platelets and plasma for treatment of hemophilia will boost the segment growth during the forthcoming years.

Hospitals segment is estimated to grow at 2.2% CAGR during the forecast period owing to increasing number of patient visits in hospitals for treatment of various diseases. Rising number of road accidents and trauma cases will fuel the segment growth over the analysis period.

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U.S. platelet and plasma market dominated industry by holding the global revenue share of over 34% of in 2017. Rising incidences of neurological conditions such as myasthenia gravis, multiple sclerosis and inflammatory dysimmune neuropathies coupled with increasing number of patients suffering from cardiothoracic disorders and orthopedic injuries will serve to be a major impact rendering factor. Moreover, various initiatives undertaken by American Red Cross for creating awareness pertaining to significance of blood donation, availability of advanced healthcare facilities as well as existence of compensated and non-compensated blood donation systems in the U.S. will further fuel the regional growth.

Some of the notable industry players operating in global platelet and plasma market are America's Blood Centers, American Red Cross, Blood Centers of America, European Blood Alliance, Indian Red Cross Society, Japanese Red Cross Society, Red Cross Society of China, Spanish Red Cross, Saudi Red Crescent Authority and South Africa Red Cross Society. Key strategy adopted by most of the industry players include collaborations and partnerships to encourage blood donation. For instance, in March 2016, Blood Bank Computer Systems, Inc. (BBCS) partnered with Blood Centers of America (BCA). This partnership focused on offering software at reduced costs to the blood centers under BCA with an aim to improve their information exchange.

Platelet And Plasma Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:

Platelet And Plasma Market by Component
o Platelets
o Plasma

Platelet And Plasma Market by Application
o Hemophilia
o Thrombocytopenia
o Perioperative Indications
o Platelet Function Disorders
o Other Platelet Applications
o Coagulation Factor Deficiencies
o Thrombotic Thrombocytopenic Purpura
o Hemorrhage
o Liver Diseases
o Other Plasma Applications

Platelet And Plasma Market by Distribution Channel
o Hospitals
o Ambulatory Surgical Centers
o Others

The above information is provided for the following regions and countries:

- North America
o U.S.
o Canada

- Europe
o Germany
o UK
o France
o Italy
o Spain

- Asia Pacific
o Japan
o India
o China

- Latin America
o Brazil
o Mexico

- Middle East & Africa
o South Africa
o Saudi Arabia