The global critical care therapeutics market was valued at over USD 2 million in 2016 and is expected to surpass USD 3 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global critical care therapeutics market, under its patient monitoring devices portfolio. This market analysis deliberates the major drivers and key emerging trends and offers an analysis of key vendors like CSL Behring, Grifols, Kedrion Biopharma, Octapharma, and Shire.
According to Sapna Jha, a lead analyst for patient monitoring devices research at Technavio, “The increased efficacy and safety of market products over alternative treatment options will fuel the growth of the market. The adverse reaction to transfusions through alternative therapies such as fresh frozen plasma and cryoprecipitates will boost the demand in the critical care therapeutics market.”
The increasing awareness of health-related risks by using alternative treatment options is increasing the demand for marketed products, which, in turn, will help in the development of the critical care therapeutics market. The risk of contamination while donating plasma or during fractionation and processing is high and will help in the grow of marketed therapies.
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Increased development of recombinant products for critical care use
The increasing development of recombinant products that includes plasma fractionates such as albumin, fibrinogen, prothrombin and Factor XIII that are obtained from the blood plasma will fuel the evolution of the market. The development of plasma fractionates through other sources with fewer side effects became a necessity to reduce the risk of infection. The vendors are focusing on the development of a genetically engineered form of plasma products for the treatment of individuals with blood–related diseases and during surgeries. These initiatives will have a positive impact on the critical care therapeutics market.
Establishment of plasma fractionation facilities in emerging economies by global players
The manufacturers are trying to tap new opportunities in developing countries like Middle East, Africa, China, and India to expand their business and increase profitability. The expansion of business is lucrative as these countries offer the easy availability of skilled personnel, raw materials, cheap labor and land, a larger volume of available plasma due to large population base, and supportive government regulations. The incentives available in these countries will help in the development of the market over the next four years.
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This industry study includes comprehensive details of market shares and sizes of the sub-segments and geography. An analysis of the important companies, including their market shares, business overview, key financials, etc. is provided in this study. This market analysis also provides a detailed breakdown of key drivers, challenges, and opportunities influencing this market.
A more exhaustive examination is available in the Technavio report titled, ‘Global Critical Care Therapeutics Market 2017-2021’. Technavio also customizes reports by more regions and specific segments upon request.
Other related reports:
- Global Gastrointestinal Therapeutics Market 2016-2020
- Global Asthma Therapeutics Market 2016-2020
- Global Allergy Immunotherapies Market 2016-2020
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