CSL (ASX:CSL) and the plasma industry could continue to grow strongly for a considerable period, Jefferies said in a Thursday note.

The plasma industry is treating at most 34% of the total potential patients that it could in the US and European Union markets. CSL's immunoglobulin franchise accounts for 38% of its fiscal year 2026 group revenue estimate of AU$15.11 billion.

Despite potential competitor entry into the autoimmune myositis market, any potential future competitor approvals in dermatomyositis and immune-mediated necrotizing myopathy are not seen as having a material effect on immunoglobulin volumes.

Immunoglobulin is considered a second-line therapy in autoimmune myositis. 4% of the volume of immunoglobulin used in Australia is for autoimmune myositis, according to the Australian National Blood Authority data.

The investment firm has a hold rating on CSL and a price target of AU$108 per share.