Global Blood Plasma Market Report

Transcription

1 Global Blood Plasma Market Report

2 Executive Summary The raw material for blood plasma industry is the straw colored liquid that is a component of blood called blood plasma. It consists mostly of water and a small amount of proteins and antibodies. Those proteins are used to produce medicines, which are extracted to produce the end products for treatment that helps people with a variety of life-threatening diseases, illnesses and conditions. These plasma-derived medications are the standard course of treatment for thousands of people, in more than 100 countries across the globe, who need the treatment to improve their health and lead productive lives. The global blood plasma market has historically grown at a mid-single digit rate up till now. Currently the US is the largest market, and the most profitable, as prices enjoy a significant premium over the other countries compared to Europe. China is now the largest consumer of albumin globally and continues to grow rapidly. The key trends observed in the market include strong and stable pricing power in immunoglobulin market, rapidly growing SCIG market and capacity expansion by commercial fractionators. But there are certain challenges too which include competition from recombinant FVIII and pricing pressure in tenders in plasma-derived FVIII market as well as potential threats to immunoglobulin market. The market s main growth drivers include immunoglobulin segment, albumin market growth in China, new indications, an ageing population as well as growth in plasma collections in the US. The report provides a comprehensive study of blood plasma market globally. The industry is quite concentrated with a few large players such as Baxter, Grifols, CSL and Octapharma. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth. By combining SPSS Inc. s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.

3 US$ Billion The big three of global plasma market, Baxter, Grifols and CSL. Global Blood Plasma Market Value ( E) E Global Blood Plasma Market by Product Type (2014E) Demand for plasma derived products is driven by new indications, higher penetration of existing indications and better access to medicines in emerging markets, an ageing population and new plasma derived therapies. The blood plasma market is estimated to be US$... billion in 2014, a growth of US$... million from previous year. From product point of view, the main products are immunoglobulin (IG) with estimated % of market share, followed by albumin and factor VIII (FVIII) with % and % of global blood plasma market share in Rest % of the market share includes proteins like factor IX, hyper immunoglobulin and fibrin glue among others. In accordance with 2014 estimates, CSL has the ideal profile among plasma firms hence lead the industry with global blood plasma market share of % immediately followed by Baxter with % of the market share. Grifols and Octapharma are estimated to have..% and % of the market share respectively in Global Blood Plasma Market Share by Company (2014) Immunoglobulin Albumin Factor VIII A1PI Others CSL Baxter Grifols Octapharma Biotest Kedrion Sanquin BPL Others

4 US$ Billion The US market is estimated to account for 51% of the global immunoglobulin market Global Immunoglobulin Market Value ( E) E 2015E 2016E 2017E 2018E Market Size Growth (%) 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% The global immunoglobulin market is estimated to be US$... billion in 2014, with growth of % from previous year, primarily due to improved diagnosis and more offlabel indications. Immunoglobulin market growth is expected at a CAGR of % from 2013 to By region, the largest share of immunoglobulin market volume of % is in North America, US in particular, as per 2014 estimates immediately followed by Europe with % of market volume share. In 2014, global immunoglobulin market was dominated by CSL and Grifols with % and % of market share respectively due to each ones higher capacity to serve the increased demand for immunoglobulin products. In contrast, Baxter has market share of % due to weak 2014 year and lower ability to expand capacity as per the requirement. Global Immunoglobulin Market Volume Share by Region (2014E) Global Immunoglobulin Market Share by Company (2014) CSL Grifols Baxter Octapharma Biotest LFP Others North America Europe R.O.W

5 US$ Million Albumin is the only plasma-derived protein that international producers are allowed to import into China. Global Albumin Market Value ( E) 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, E 2015E 2016E 2017E 2018E Albumin Market Growth (%) Global Albumin Market Volume Share by Region (2014E) 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% The albumin market is estimated to be of worth US$... million in 2014, a growth of % form previous year. The market is estimated to grow at a CAGR of % from 2013 to 2018 due to steady and strong demand in Asia, developed markets and double-digit growth in China, even if prices remain flat. The US and European demand for albumin is robust as its consumption continues to grow at a solid pace in these regions supported by the on-going trend away from hydroxethyl starches (HES), following the revised safety warnings. CSL, largely due to entering the Chinese market before its competitors, has the largest share of the international fractionators i.e. % coupled with accelerated albumin sales, particularly in China in However, Grifols and Baxter manage to capture % and % of market share respectively as per 2014 estimates. Global Albumin Market Share by Company (2014E) Europe North America R.O.W CSL Grifols Baxter Others

6 US$ Billion Major players in this industry are increasing capacity to meet future demands of blood plasma product. Global Blood Plasma Market Forecast ( F) 25 12% 20 10% 15 8% 6% 10 4% 5 2% F 2016F 2017F 2018F Market Size Growth (%) 0% The global blood plasma market is forecasted to reach value of US$... billion by 2015, an increase of % versus prior year. For the next four years, the market is forecasted to grow at CAGR of % from 2015 to It is expected that continued strong demand for albumin in Asia and higher volume immunoglobulin use in developed countries will drive plasma market growth. Albumin has been a key driver of the plasma market over the last two years for two key reasons. Firstly, strong demand from China (at nearly a 100% price premium over European prices), and secondly, security warnings in Europe related to solutions containing HES (also used to expand plasma volumes, one of the indications of albumin). It is estimated that China buys about half of its albumin needs abroad, and the Chinese albumin market is growing at a rate of %, making it the second-largest market in the world after the US, with tons. Thus, China acts as a future growth driver for the albumin market. The US is the largest market of plasma collection, with three big players CSL, Grifols and Baxter, acting as growth driver of the blood plasma industry. Plasma collections growth confirms limited supply risk with significant fractionation capacity expansion under way. The US plasma collection reported until 2013 was million liters and is estimated to have reached million liters in The donors are paid for their time in plasma collection for US$30 on an average for 75 minutes.