The global Plasma Expander Market is estimated to be valued at US$ 28.28 Billion in 2022 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.
Market Overview:
Plasma expanders are used to increase blood volume and restore effective circulation of blood in patients with conditions like shock or blood loss. They mimic the oncotic pressure provided by plasma proteins to prevent fluid from leaking out of blood vessels. Their use eases the transfusion of packed red blood cells and whole blood in emergency situations by expanding blood volume.
Market key trends:
One of the key trends fueling the plasma expander market is the growing prevalence of trauma injuries and extensive blood loss during surgeries across the globe. As per World Health Organization estimates, nearly 5 million people die annually due to injuries sustained from varied causes. Road accidents remain a major contributor. Also, rising number of complex surgical procedures performed are driving the need for plasma volume replacement solutions. Further, growing government focus on strengthening healthcare infrastructure in developing nations will boost market revenues through 2030.
Segment Analysis
The global plasma expander market is segmented based on type into dextran, hydroxyethyl starch, gelatin, albumin, and others. Among these, dextran is expected to dominate the market over the forecast period due its wide usage and relatively low price compared to other plasma expanders. Dextran is commonly used plasma expander for initial fluid resuscitation.
Key Takeaways
The global Plasma Expander Market size is expected to reach US$ 28.28 billion by 2023, exhibiting a CAGR of 6.7% during 2023 to 2030, owing to the increasing prevalence of chronic diseases and road accidents.
Regional Analysis
By region, North America is expected to remain the dominant as well as the fastest growing regional market over the forecast period. This is attributed to the rising incidence of trauma injuries, road accidents, and growing number of surgeries in the region.
Key Players
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. Baxter International Inc. is one of the prominent players in the market.
