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Plasma assay is an investigating procedure to analyse the blood sample. The plasma assay is used to detect the infectious agents, cardiovascular diseases, diabetes, cancer biomarkers, drug abuse, protein, lipid, glucose level and other infectious agents that would cause severe chronic disease in future. A plasma assay is performed for various indications, such as anaemia, infection, leukaemia, hypokalemia, and kidney.
The COVID-19 outbreak has put tremendous pressure on healthcare services. Despite lockdown and disruption in the supply chain, the COVID 19 pandemic has encouraged the major market players to focus on research and development of various advanced testing technologies.
For instance, in May 2020, the DarioHealth Corp. announced the FDA approval for the use of self-test plasma glucose meters by the diabetes patients in the hospitals. These meters were intended to limit the exposure to the COVID 19 viral infection, by self-diagnosing the blood-glucose levels.
Globally, the plasma assays market is primarily driven by increasing prevalence of chronic diseases like cardiovascular disease, and diabetes. Public awareness related to the complications concerned with chronic diseases and early diagnosis is the major factors that fuel the plasma assays market growth.
Conversely, the rising focus on research activities and advancement for the early detection of infectious agents in plasma is expected to render lucrative opportunities during the forecast period. The costs of handling the equipment for plasma assay may restrain the plasma market growth during the forecast.
North America will continue to dominate the global market during the forecast period owing to the rising initiatives towards research and development, high market penetration coupled with favourable reimbursement policies expects to raise the demand for the advanced diagnostic procedures and witness the region to acquire a larger share in the plasma assays market.
Also, favourable government initiatives and CLIA waiver on diagnostic devices is a driving factor that expects to boost the plasma assays market growth. Asia-pacific region accounted for high growth owing to the rising prevalence of chronic diseases among the growing population and increasing investment on the healthcare facilities anticipates the faster growth of the region.
For instance, in October 2020, Siemens Healthier, a subsidiary of Siemens AG announced to expand its molecular assays manufacturing in India to develop the plasma, antigen-antibody testing for COVID 19. Europe plasma assays market is expected to gain significant traction with increasing interest towards the advanced medical procedures in the region.
Latin America and Middle East & Africa are the least lucrative regions owing to poor access to healthcare facilities in the region.
Some key players operating in the plasma assays market are
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
