Plasma expanders, also known as blood volume substitutes or volume expanders, are solutions used to expand blood plasma volume during surgery or trauma care. They work by increasing the amount of fluid present in the blood vessels and exerting an oncotic pressure effect that helps bring fluid back into the intravascular space from the extravascular space. Common plasma expanders include hydroxyethyl starch, gelatin, human albumin, and dextran. Plasma expanders are vital for surgical procedures involving substantial blood loss to replace lost plasma oncotic pressure and intravascular volume. The rising geriatric population undergoing various surgical interventions and the increasing incidence of trauma cases due to road accidents are key factors driving the demand for plasma expanders. 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 rising volume of surgical procedures performed worldwide and trauma cases are fueling the demand for plasma expanders. Various types of plasma expanders including hydroxyethyl starch, gelatin, human albumin, and dextran are being increasingly utilized during surgical interventions and for trauma care. Technological advancements are aiding in the development of newer plasma expander formulations with enhanced safety profiles and oncotic pressure sustaining capabilities.
Market Trends
Some key trends being observed in the plasma expander market include growing demand for synthetic varieties of plasma expanders. Synthetic plasma expanders have certain advantages over albumin varieties such as greater availability and lower risks of disease transmission. Rising focus on development of non-gelatin based plasma expanders. Traditionally, gelatin was widely used as a plasma expander. However, non-gelatin varieties are now gaining popularity due to certain religious concerns related to the use of gelatin.
Market Opportunities
The plasma expander market players have strong opportunities for growth in emerging economies due to rapid development of healthcare infrastructure and rising purchasing power. Growing adoption of minimally invasive and advanced surgical techniques will further propel utilization of plasma expanders. There is scope for innovations leading to development of newer generations of plasma expanders with longer duration of action, lower risks, and enhanced benefits compared to existing products.
Impact of COVID-19 on Plasma Expander Market
The COVID-19 pandemic has significantly impacted the growth of the plasma expander market. The increasing prevalence of various chronic diseases and growing number of trauma cases worldwide were driving the market growth pre-COVID. However, due to the outbreak of COVID-19, many countries imposed strict lockdowns and travel restrictions. This led to delayed or canceled elective surgeries and non-emergency medical procedures to avoid unnecessary exposure and focus healthcare resources on treating COVID-19 patients. As a result, the demand for plasma expanders from surgical centers and hospitals reduced substantially during the peak of the pandemic.
Post-COVID, as lockdowns are being lifted and healthcare services resume, the demand for plasma expanders is recovering gradually. However, it may take some time for the market to reach pre-COVID levels. Manufacturers are facing challenges in terms of disrupted supply chains and shortage of raw materials. At the same time, there is increased focus on developing more effective plasma expanders to treat critically ill COVID-19 patients suffering from conditions like shock, acute respiratory distress syndrome (ARDS), etc. Going forward, the market is expected to witness steady growth driven by factors like the rise in surgical volumes, trauma cases, and chronic disease burden globally. However, the impact of recurring COVID waves continues to add uncertainty.
Geographically, North America dominates the plasma expander market in terms of value, owing to the high healthcare spending and presence of major players in the region. Europe is another prominent regional market driven by the rising prevalence of lifestyle diseases, aging population, and technological advancements. On the other hand, Asia Pacific is projected to be the fastest-growing region during the forecast period due to increasing medical tourism, healthcare infrastructure development, and growing disposable incomes in developing countries like China and India.
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