Apheresis Equipment Market Set to Witness an Uptick during 2018 to 2024



The global apheresis equipment market size is expected to reach USD 3.7 billion by 2024, according to a new report by Grand View Research, Inc. The apheresis equipment industry is expected to be impacted by factors such as rising demand for plasma, platelets and other blood components, increasing incidence of chronic illnesses, presence and development of ideal reimbursement policies across various regions, and supportive government initiatives.
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
The U.S. Federal Government has been very involved in the funding of apheresis research through its benefit programs such as Medicare, Medicaid, veterans’ health administration military and employee insurance programs. Medicare provides coverage for apheresis regardless of whether the procedure is performed in a hospital or a blood center. In addition, private insurers have recently begun to closely examine apheresis procedures and issue policy statements pertaining to coverage.
Growing incidence of blood related disorders leading to the rise in demand for platelets and plasma is expected to serve the market as a high impact rendering driver. The industry is also expected to be driven by technology innovations aimed at delivering relatively more effective and faster results. Healthcare practitioners and researchers are now in the need for devices requiring minimum human intervention and introduction of fully automatic apheresis equipment with enhanced displays is expected to improve usage rates.
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https://www.grandviewresearch.com/industry-analysis/apheresis-equipment-market/request/rs1
Further Key Findings From the Study Suggest:
·         Disposable apheresis kits are anticipated to dominate the product segment by 2024. Bulk volume purchase associated with these products is predicted to govern their growth.A single cycle of apheresis procedure consumes multiple disposable sub parts which is responsible for comparatively larger market volume as compared to apheresis machines.
·         The photopheresis procedure is anticipated to witness lucrative growth owing to its rising demand in treatment. The procedure is approved for treatment of solid organ transplant rejection, scleroderma, type 1 diabetes, pemphigus vulgaris, lichen planus &atopic dermatitis, and cutaneous T-cell lymphoma.
·         Another procedure expected to gain lucrative share is erythrocytapheresis. The procedure also finds application in blood donation procedures where it is widely used for separating two units of blood, known as double red cell apheresis. Rising incidence rates of genetic disorders such as sickle cell anemia is expected to drive apheresis equipment market growth by widening the patient base.
·         Asia Pacific is anticipated to witness the fastest growth over the forecast period. Presence of high unmet needs and rapidly increasing demand for platelets in the emerging Asia Pacific and Latin American markets is expected to serve this market as future growth opportunities. For example, in July, 2014, India witnessed a rapid rise in demand for platelets owing to an increased incidence rate of dengue.
·         Key players of this industry include Fresenius Kabi; Haemonetics; Terumo BCT; Therakos, Inc.; Asahi Kasei Kuraray Medical Co Ltd; and B. Braun Melsungen AG. Strategies promoting faster distribution and development of efficient supply chain are being incorporated by the players.
·         For instance, in March 2014, Therakos, Inc., signed an exclusive distribution agreement with Terumo BCT, wherein Terumo would be the sole supplier of UVAR XTS and THERAKOS CELLEX in the Latin American region. Countries such as Mexico, Argentina, Peru, Colombia and Uruguay would be under purview.
The global apheresis equipment market size was valued at USD 1,395.9 million in 2015 and is expected to reach USD 3,732.6 million in 2024, growing at a CAGR of 11.5% during the forecast period. Presence of favorable government initiatives and reimbursement framework is expected to boost demand during the forecast period.
Furthermore, rise in the number of platelet donors and R&D investments by biopharmaceutical companies are expected to serve as high impact rendering drivers.
Rising incidence of blood-related disorders is expected to boost demand by increasing the usage rates of apheresis machines and kits. According to the NHSBT the demand for platelets is expected to grow at a rate of 3% annually from 2011 to 2014. Moreover, growing awareness levels pertaining to platelet donation is anticipated to support demand in developed economies.
Product Insights
Kits are bundled together and are inclusive of filters, separators, tubing set, and other components. High usage volume coupled with rapidly growing demand for apheresis procedures are some factors attributing to its large share. In addition, single usage helps in limiting device-related blood infections in donors and patients, thereby boosting segment growth.
Procedure Insights
Plasmapheresis accounted for the largest share of about 50.0% of the overall procedure market in 2015. Plasmapheresis developed in 1951 by Grifols is a procedure involving the separation of plasma from blood cells. Plasma-based drugs are also administered to patients with weak immune systems in an attempt to increase resistance to infection/disease. Rising incidence of blood-related disorders and growing demand for plasma-derived medicines is expected to serve as a primary growth driver.
Browse Press Release of this report:                                                                  
https://www.grandviewresearch.com/press-release/global-apheresis-equipment-market
Grand View Research has segmented the global apheresis equipment market on the basis of product, application, procedure, technology.
Apheresis Equipment By Product , 2013 - 2024 (USD Million)
·         Disposable apheresis kits
·         Apheresis machine
Apheresis Equipment By Application , 2013 - 2024 (USD Million)
·         Renal diseases
·         Hematology
·         Neurology
·         Others
Apheresis Equipment By Procedure , 2013 - 2024 (USD Million)
·         Plasmapheresis
·         LDL-apheresis
·         Plateletpheresis
·         Leukapheresis
·         Photopheresis
·         Erythrocytapheresis
·         Others
Apheresis Equipment By Technology , 2013 - 2024 (USD Million)
·         Membrane Filtration
·         Centrifugation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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