The Apheresis Equipment Market to exceed USD 4.5 billion by 2024 as per a new research report.
Increasing number of surgeries and growing demand for plasma and other blood components should fuel market growth. Increasing R&D investments in pharmaceutical and biotechnology industry should stimulate market growth.
Growing application of therapeutic apheresis equipment in cancer treatment will drive market growth over the forecast period. Technological advancements and automation of apheresis machine has reduced treatment time and cost coupled with enhancing patient care. This will promote market growth during the forecast period. However, excessive cost associated with the apheresis equipment and procedure may hinder market growth.
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Rising geriatric population globally along with increasing number of people suffering from blood related diseases will drive apheresis equipment market over the forecast years. Growing healthcare awareness about safer blood donation using apheresis equipment should propel industry growth.
Disposable apheresis kit segment will grow with highest CAGR over the forecast period owing to bulk volume purchase of this component, increasing number of blood donation procedures and rising usage of apheresis equipment consisting disposable kit.
Plasmapheresis Market will witness considerable growth over the forecast period owing to growing demand for plasma along with rising incidences of diseases such as Hemophilia which requires plasma source.
Neurology segment should experience significant growth over the forecast period owing to the growing number of people suffering from neurological disorders and increasing application of therapeutic apheresis equipment in treating diseases such as multiple sclerosis.
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U.S. apheresis equipment Market will witness significant growth during the forecast period due to constant upgradation of technology, increasing healthcare spending coupled with increasing prevalence of blood related disorders. Government’s favorable reimbursement policies such as Medicare providing healthcare coverage for photopheresis procedure will fuel market growth.
The increasing number of people suffering from multiple sclerosis in Germany will drive Germany apheresis equipment market growth over the coming years. Rising demand for plasma and thrombocytes along with increasing funding received for plasma, thrombocytes donations in apheresis center should propel market growth. The stringent government regulations along with acts such as German transfusion act will positively affect market growth.
The increasing number of baby boomers and rising population suffering from blood related disorders in India is said to fuel Indian apheresis equipment market over the forecast period. Developing healthcare infrastructure and favorable government policies for blood transfusion given by Indian Ministry of Health and Family Welfare should propel market growth.
Some industry players are Hemacare Corporation, Asahi Kasei Kuraray Medical, B. Braun Melsungen AG, Fenwal, Terumo BCT, Therakos, Haemonetics Corp.,Fresenius Kabi, Kawasumi Laboratories. Strategic collaborations, merger and acquisitions are key strategies followed by market payers for consolidating their position in the market.
