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.
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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.
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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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