Animal Blood Plasma Products and Derivatives Market: Future Market Projections for Forthcoming Years
Transparency Market Research Report Added "Animal Blood Plasma Products and Derivatives Market" to its database.
Albany, NY -- (SBWire) -- 09/20/2017 --The global market for animal blood plasma products and derivatives was valued at US$1.04 bn in 2015. Rising at a CAGR of 7.10% during 2016–2024, the opportunities in the market is anticipated to reach US$1.92 bn by the end of 2024.
Geographically, North America occupied the major market share in 2015 and is expected to retain its lead throughout the forecast period. The growth of this regional market is driven by the presence of several prominent players who are constantly offering innovative products for varied cell culture applications by actively focusing on a diversified portfolio of cell lines.
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The major applications areas of animal blood plasma products and derivatives are cell culture media, nutrition supplements, sports nutrition, the pharmaceutical industry, the food industry, the cosmetic industry, the pet food industry, and the diagnostics industry. Of these, the food industry is projected to grow at a substantial pace over the forecast period. The growth of this segment is attributed to the wide applications of plasma in making food products in various developed markets.
The developments in the global animal blood plasma products and derivatives market is primarily driven by applications of animal blood plasma in the food industry, especially for making pet food. The utilization of blood plasma and derivatives in the food industry is largely motivated by scores of nutritional benefits, along with economic and environmental ones. The burgeoning demand for premium quality and healthy solutions of blood plasma products in making a variety of wet pet foods and pet snacks is a key factor boosting the market. In addition, the growing application of blood plasma and derivatives to increasingly substitute plant-extracted proteins for making pet food bodes well for the market. Furthermore, constant improvements in supply chain and distribution networks by various players is expected to positively impact the animal blood plasma products and derivatives market.
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Recent advances in blood collection and processing techniques have catalyzed the market. The availability of modern blood processing technologies in North America is expected to fuel the market growth in the coming years. For instance, substantial efforts have been focused on augmenting the utility of the cellular fraction in food proteins, which is expected to propel the market over the forecast period. The increasing import of animals to advanced regions from countries such as Australia and New Zealand is expected to accelerate blood collection processes, thereby accentuating the market.
However, marked price volatility in animal blood plasma products, coupled with rising prevalence of diseases among animals, is a key factor hindering the market growth to an extent. Nevertheless, recent advancements in techniques for processing blood plasma and derivatives are expected to open up exciting opportunities for market players in major regions. Furthermore, the growing significance of cell culture media in conventional research and for the development of vital biomolecules and therapeutics is expected to open up lucrative growth avenues for players to capitalize on in the forthcoming years.
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The global animal blood plasma products and derivatives market features a fairly fragmented landscape with the presence of a large number of players. However, intense competition exists between a few large players. The combined share of leading companies such as Proliant, Thermo Fisher Scientific, and Sigma-Aldrich collectively, exceeded 76.0% of the market in 2016, with Proliant holding the dominant share, notes Transparency Market Research (TMR). Several vendors are actively consolidating their distribution networks across various regions by forming strategic partnerships with a number of indigenous distributors, raw materials suppliers, and manufacturers. Numerous companies based in developed nations are expected to expand their presence in emerging markets by opting for mergers, acquisitions, and partnerships, in order to strengthen their presence, observes TMR.
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