The Business Research Company’s Global Convalescent Plasma Therapy Market Analysis Report 2020-30: Covid 19 Implications And Growth
LONDON, GREATER LONDON, UK, August 6, 2020 /EINPresswire.com/ — The global convalescent plasma therapy market size is expected to grow from $20.3 million in 2019 to $26.4 million by the end of 2020 at a compound annual growth rate (CAGR) of 30.2%. The growth is mainly attributed to the COVID-19 outbreak and the urgent need to treat the growing number of cases. The use of convalescent plasma collected from individuals who have recovered from COVID-19 is one investigational treatment being explored for COVID-19. The global convalescent plasma therapy market value is then expected to stabilize and reach $39.6 million in 2023 at a CAGR of 14.4%.
Higher efficacy and safety evaluated during the trials conducted for convalescent plasma transfusion (CPT) in COVID-19 patients can drive the convalescent plasma therapy market growth during the forecast period. Convalescent plasma transfusion has been of interest in the historical period for the treatment of other infectious disease outbreaks such as SARS-1, Middle East Respiratory Syndrome (MERS), and 2009 H1N1. In June 2020, results of a study conducted by the Houston Methodist hospital, which aimed at evaluating safety and efficacy of COVID-19 convalescent plasma therapy, stated that the convalescent plasma therapy is safe with no adverse events reported, and is efficient with 76% recovery rate. In May 2020, a study published in the Journal of Medical Virology stated that with convalescent plasma therapy, the mortality rate may be reduced in critically ill patients, beneficial effects on clinical symptoms will be observed, and an increase in neutralizing antibody titers and disappearance of SARS-CoV-2 RNA will be observed. The safety and efficacy of the convalescent plasma therapy in COVID-19 patients will boost the convalescent plasma therapy market share.
The development of antibody-based immunotherapy as a potential therapeutic intervention for COVID-19 shows opportunities for the convalescent plasma therapy market. Convalescent plasma therapy utilizes the antibodies produced against coronavirus by the donor to improve the immunity of the recipient. Companies are initiating trials, collaborating, and investing for antibody-based COVID-19 therapy.
In April 2020, GSK entered into a collaboration with Vir Biotechnology and invested $250 million in Vir, to support the development of anti-viral antibody-based solutions against the novel coronavirus. In April 2020, Biomedical Advanced Research Development Authority (BARDA) partnered with Emergent BioSolutions to fund $14.5 million to support the development of human plasma-derived therapy, which is COVID-Human Immune Globulin (COVID-HIG) for treating COVID-19 in severe hospitalized and high-risk patients.
In April 2020, global plasma companies like CSL Behring, Takeda Pharmaceutical Company Limited, Biotest, BPL, LFB, and Octapharma collaborated to develop plasma-derived COVID-19 Hyperimmune Therapy. As convalescent plasma therapy utilizes antibodies, the focus over antibody-based COVID-19 therapy is expected to further boost the market growth.
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Source: EIN Presswire