Albany, NY -- (SBWIRE) -- 11/07/2018 -- Global Animal Blood Plasma Products and Derivatives Market: Snapshot
Thanks to the technological advancements in blood collection and processing procedure, rising usage of blood plasma products in the human food as well as pet food products industries, and improved supply chain and distribution network across the world, the global market is expanding phenomenally.
The rising demand for these plasma products and derivatives has changed the dynamics of this market, which accounted for US$1.04 bn in 2015. Analysts estimate the opportunity in this market to increase at a CAGR of 7.10% between 2016 and 2024 and reach a value of US$1.92 bn by the end of 2024.
Cell Culture Media and Food Industry to Report High Demand for Animal Blood Plasma Products and Derivatives
Cell culture media, the food industry, the pharmaceutical industry, sports nutrition, nutrition supplements, the cosmetic industry, the diagnostic industry, and the pet food industry are the key application areas for animal blood plasma products and derivatives. Among these, the demand for these plasma products is higher from cell culture media and the food industry compared to other application segments. The scenario is likely to remain so over the next few years.
The food industry, especially, is anticipated to report a significant rise in the demand for these plasma products and derivatives in the near future due to increased demand for nutrient added food products in developed economies. Cell culture media, on the other hand, is expected to be driven by its growing importance in the field of conventional research and in development and production of vital biomolecules and therapeutics.
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North America to Retain Leadership in Global Animal Blood Plasma Products and Derivatives Market
Geographically, the Middle East and Africa, North America, Asia Pacific, Europe, and Latin America have been considered as the main segment of the worldwide market. Of these, North America acquired the topmost position in 2015 with a share of more than 30%. The growth of this regional market heavily driven by the presence of well-established market players, who continue to innovate cell culture applications and constantly focus on the diversity of various cell lines and their cellular interactions to develop different cell cultures.
Over the coming years, North America is anticipated to retain its leadership, thanks to the increasing usage of animal blood plasma products and derivatives in various applications, such as sports nutrition and the pet food industry. Apart from this, the early availability of advanced technologies for blood fractionation and the increased import of Australia and New Zealand live cattle animals, which is further utilized for the production of plasma products and derivatives, is also expected to support the North America market for animal blood plasma products and derivatives in the years to come.
Asia Pacific, which closely followed North America in 2015, is projected to continue to exhibit a high growth rate over the next few years, thanks to the growing demand for animal blood plasma products and derivatives in Australia, New Zealand, and China. The availability of untapped opportunities and the presence of vendors throughout the region is also predicted to aid the market in Asia Pacific in the near future.
The global market is predominantly operated by Lake Immunogenics Inc., Auckland BioSciences Ltd., Kraeber & Co. GmbH, Sigma-Aldrich Co., Thermo Fisher Scientific Inc., Rocky Mountain Biologicals Inc., LAMPIRE Biological Laboratories Inc., Bovogen Biologicals Pty Ltd., Proliant Inc., and ANZCO Foods Ltd