Global Plasma Expander Market to Witness Significant Growth Owing to Increasing Geriatric Population

The global plasma expander market is an integral part of the biopharmaceutical sector. Plasma expanders are intravenously administered fluid agents that help increase the circulating volume of blood plasma and treat conditions associated with low blood volume. Common indications where plasma expanders are used include hypovolemic shock, trauma, hemorrhage, burns, and dehydration. Key plasma expanders available in the market include dextran, hydroxyethyl starch, gelatin, and albumin. These agents mimic the characteristics of intracellular and extracellular fluids in the body.

The Global Plasma Expander Market Share 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 of 2024 to 2030. The increasing prevalence of chronic disorders among the aging population and rising number of trauma & accident cases globally are majorly driving the demand for plasma expanders. Furthermore, advancements in critical care facilities and growing initiatives to broaden healthcare access in developing nations are also propping up market growth.

Key Takeaways

Key players operating in the plasma expander market 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, and Epinex Diagnostics Inc. These companies dominate the market with their diverse product portfolios and strong global presence.

The growing geriatric population susceptible to chronic illnesses and trauma presents lucrative opportunities for plasma expander manufacturers to expand their product lines catering to the elderly. In terms of geography, North America is expected to continue dominating the global market over the forecast period owing to increasing healthcare spending and availability of advanced plasma expander products in the region.

Key market players are focusing on strategic collaborations to broaden their international footprint. For instance, recent regulatory approvals and partnerships with regional distributors have helped Asahi Kasei Pharma Corporation strengthen its plasma expander supply network across Asia Pacific and Latin America.

Market Drivers
- Rising prevalence of chronic disorders among the aging population: Conditions requiring plasma volume expansion such as hypovolemia, burns, hemorrhage are becoming highly common among the geriatric population.

- Increasing trauma & accident cases worldwide: The volume of trauma cases due to road accidents, injuries, burns, etc. has been rising rapidly. This is driving the demand for effective plasma expanders in emergency care.

Market Restraints
- Stringent regulatory framework: Plasma expanders are classified under different regulatory categories worldwide which demands extensive clinical research and approvals, increasing development costs.

- Limited product adoption in price-sensitive developing regions: High costs of branded plasma expanders restricts their availability in low and middle-income countries.
Segment Analysis
The Plasma Expanders Market is dominated by Colloid Volume Expanders sub segment as they are commonly used as a plasma substitute in maintaining the circulatory volume during surgery or trauma to prevent hypovolemic shock. Colloid Volume Expanders have a larger molecular weight and stay longer in circulation as compared to Crystalloid solutions, thus they require less frequent administration.

Global Analysis

North America dominates the Plasma Expander Market with the highest market share. This is attributed to high healthcare spending, presence of major market players, increasing prevalence of chronic diseases and trauma injuries. Furthermore, heavy research funding for blood plasma based therapeutics contributes to market growth in the region. Asia Pacific is the fastest growing market due to rising medical tourism, increasing healthcare spending, large patient pool and growing focus of international players to tap opportunities in emerging countries.