Apheresis Equipment Market Estimated to Experience a Hike in Growth By 2024
Apheresis is a procedure in which the blood is passed through equipment in which one component of the blood is centrifuged and the remainder component is returned back to the donor’s or patient’s circulation. For example during blood donation using apheresis equipment, the procedure involves separation and collection of the plasma or platelets, while returning red blood cells back to the donor blood stream. There are different types of procedures depending upon the constituents of blood undergoing centrifugation i.e. the components being separated and withdrawn such as Plasma (plasmapheresis), Platelets (plateletpheresis), Leukocytes (leukapheresis), Lymphocytes (lymphopheresis or lymphapheresis) and Red blood cells (erythropheresis). Whereas the procedures also has many therapeutic applications in which the diseased component of the blood is removed while the healthy component is returned back to the patient’s circulation. In addition ti this the procedure can also be used in stem cell harvesting.
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Apheresis equipment market comprises of the equipment used during apheresis procedure. Some apheresis equipment are regulated only for blood banking purposes. Whereas many centrifuge-type apheresis equipment have been approved by FDA for therapeutic purpose.
Apheresis equipment market is growing, this is attributed to increasing usage of this equipment during blood donation also the equipment is used in many diseases such as severe cryoglobulinemia, Guillain-Barre (GB) syndrome, homozygous familial hypercholesterolemia, myasthenia gravis, fulminant Wilson disease etc. In addition to this, apheresis procedure is also used as second line treatment in many other conditions. Growing healthcare expenditure, and rising insurance coverage, aids in the revenue growth of apheresis equipment market. Increasing number of new product launches in centrifuge-type apheresis system drives the market for apheresis equipment. However higher pricing of these systems along with stringent regulations is expected to hamper the growth of the apheresis equipment market over the forecast period.
Apheresis equipment market revenue is expected to grow at a good growth rate, over the forecast period. The market is anticipated to perform well in the near future due to increasing awareness regarding its therapeutic usage. Plasmapheresis is anticipated to grow with a fastest CAGR over the forecast period, attributed to increasing number of blood donors willing to donate blood through plasmapheresis. Increasing investment in R&D and increasing number of new product launches are the major factors estimated to drive the revenue growth of apheresis equipment market.
Depending on geographic region, the Apheresis Equipment market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA).
North America is occupying the largest regional market share in the global apheresis equipment market owing to the presence of more number of market players, high donor awareness levels, increasing healthcare expenditure and relatively larger number of R&D exercises pertaining to product manufacturing and marketing activities in the region. Also Europe is expected to perform well in the near future due to increasing usage of apheresis equipment in blood donation centers.
Asia Pacific is expected to grow at the fastest CAGR because of increasing prevalence of different types hematological conditions in the region, thus boosting the market growth of apheresis equipment market throughout the forecast period.
Some players of apheresis equipment market includes Fresenius Medical Care, Terumo BCT, Inc., B. Braun Melsungen AG, HemaCare Corporation, Asahi Kasei Medical Co., Ltd., Fenwal Inc. etc. The companies in apheresis equipment market are increasingly engaged in strategic partnerships, collaborations, mergers and acquisitions to capture a greater pie of market share as the market is in the growing stage.
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