The apheresis market is expected to grow at a CAGR of ~7.7% during the forecast period 2019-2026
The expansion of this market can be attributed to the rise in the prevalence of chronic diseases, increase in the surgical procedures and the growing cases of accident or injury.
However, the market is constrained by the high cost of its procedures, lack of skilled professionals and its awareness especially in the under-developed countries. The ongoing pandemic duly points out to the dire need of investment in the healthcare sector. The treatment by the transfusion with convalescent plasma has resurfaced to fight this deadly disease due to its potential merits. There is an empirical data available on its benefits and the high potential of this method in the health industry.
The scope of Apheresis market is defined by products devices, applications, procedure, technology and region. The following report closely analyses this trend in this market by capturing details of the investment, growth opportunities, and government initiatives in the upcoming years. The focus is also on some key challenges and their impact on the market. Therefore, it is a useful tool for the key stakeholders study this market comprehensively.
Disposables had the higher market share in 2019 and are anticipated to maintain this throughout the forecast period because of substantial progress in the manufacturing of blood bags, tubing sets, filters, kits and various instruments and separators. The market of apheresis devices is growing consistently but at a relatively slower rate. There has been increasing efficiency in the ability to separate all types of blood components through therapeutics procedure.
Plasmapheresis which is a process to separate plasma, white blood cells, red blood cells and platelets, had the largest share in the market in 2019 due to the rise in blood-related disorders and growing demand for plasma- derived medicines.
These machine functions are used to separate various blood components. Membrane filters are useful in filtration of plasma from other components such as white blood cells, red blood cells and platelets However, in centrifugation, specific cells are separated by the use of gravity. This method is less time consuming and is highly used in Western European regions and Japan. In 2019, it produced maximum revenues in Apheresis market majorly due to its maximum use in hospitals.
It is done by extracting individual components such as platelets or plasma from the blood of the donor. In therapy, the purpose is to remove the defective disease-causing cells from the body of the patient. The rising instances of cardiovascular and neurological diseases, blood cancer etc are key factors in the rise of apheresis markets.
North America holds the largest share of the apheresis equipment market in as it has one of the world's advanced healthcare facilities and high healthcare expenditure. The Asian Pacific regional market is expected to grow in the period due to the increase in the diseases requiring blood transfusion and the growing market and infrastructure for healthcare facilities. Also, the government expenditure on healthcare is expected to rise especially in India which aims at bringing it to 2.5 % in 2025.
However, there is much scope of improvement globally as the initial investment in this market is high and its maintenance cost is high.
The market is booming with key providers operating in the global apheresis market including:
LMB Technologie GmbH
The market is highly competitive due to advancing technology, various global government initiatives to generate knowledge, and various companies deploying strategies to commercialize their products.
Key Topics Covered:
1. Executive Summary
2. Industry Outlook 2.1. Industry Overview 2.2. Industry Trends
3. Market Snapshot 3.1. Market Definition 3.2. Market Outlook 3.3. PEST Analysis 3.4. Porter Five Forces 3.5. Related Markets