April 20, 2024
Plasma Expander Market

Plasma Expander Market is witnessing increasing adoption driven by expanded clinical applications

The global plasma expander market is estimated to be valued at US$ 32.58 million in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2030. Plasma expanders are often utilized in medical procedures and surgeries as they enable the restoration of circulating volume and help to improve the blood flow in cases of hemorrhage or shock. Plasma expanders come with certain advantages over whole blood such as long shelf life and immediate availability. The commonly used plasma expanders include dextran, hydroxyethyl starch, and gelatin.

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 growing demand for plasma expanders in surgical procedures is expected to drive the market growth over the forecast period. Plasma expanders are effective in restoring circulating volume and preventing hypotension, which makes them vital during surgeries. Moreover, rising prevalence of blood loss associated conditions is further augmenting the demand.

Geographically, North America dominated the plasma expander market in 2024 owing to growing healthcare expenditure and rising number of surgical procedures in the region. However, Asia Pacific is likely to witness highest growth during the forecast period with expanding clinical research in emerging countries and growing patient pool. Key players are focusing on regional expansion opportunities in Asia Pacific and Latin America for sustained market share.

Market Key Trends

The plasma expander market is witnessing increasing adoption driven by expanded clinical applications of plasma expanders. Earlier, plasma expanders were primarily used during trauma and surgeries involving massive blood loss. However, their usage has increased across therapeutic areas like gastroenterology, pulmonology, and cardiology as well. Growing applications are propelling research and development of advanced plasma expanders with improved safety profiles to cater to diverse health conditions. Moreover, availability of plasma expanders as intravenous solutions is facilitating their convenience of administration. This is contributing significantly to the revenue growth of market players.

Porter’s Analysis
Threat of new entrants: The plasma expander market has moderate barriers as significant capital is required for R&D and production facilities. However, potential new entrants may partner with existing players to launch new products.
Bargaining power of buyers: Individual buyers have low bargaining power as the market is highly fragmented with many established manufacturers. However, large group purchasers can negotiate on price and contracts.
Bargaining power of suppliers: A few major raw material suppliers exist globally, giving them some control over pricing and supply. Manufacturers source from multiple suppliers to avoid dependency.
Threat of new substitutes: Not many practical substitutes presently exist as plasma expanders aim to temporarily increase plasma volume during surgery or trauma. Potential competition can emerge from new molecule development.
Competitive rivalry: Being a mature market, competition is high among leading manufacturers to expand shares and markets. Players differentiate through product innovations, marketing initiatives and regional expansion plans.

Geographical regions with highest market value
North America holds the major share of the plasma expander market owing to rising surgical procedures, trauma cases and new product approvals. The United States is a key market concentrated with major market players and research institutes.

Fastest growing geographical region
Asia Pacific region is projected to witness the highest CAGR during the forecast period. Factors such as high unmet clinical needs, rising healthcare investments, increasing medical Tourism and growing medical device industry in China, India and Japan will drive the plasma expander market in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it