Apheresis Market to hit US$4.33 Billion by 2025, Says TMR
ALBANY, New York, Feb. 21, 2019 /PRNewswire/ -- According to the research report by TMR, the global apheresis market was valued at US$1.85 bn in 2016 and is projected to expand at a CAGR of 10.2% from 2017 to 2025. Based on procedure, the donor or automated apheresis is anticipated to dominate the global market throughout the forecast period. This is mainly due to an increase in gap between blood supply and blood products, which facilitate the need for using apheresis machines.
In the regional platform, Asia-Pacific is expected to witness the highest growth rate throughout the forecast period. In addition, increase in incidence of dengue across countries in Asia-Pacific is the key contributor for the market's growth in the region.
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Plasma-Derived Medicines Boosts the Growth Opportunities Worldwide
High usage volume coupled with rapidly growing demand for apheresis procedures are prime factors attributing to its large share. In addition, single usage helps in limiting device-related blood infections in donors and patients, thereby boosting the market. Rising incidences of blood-related disorders and growing demand for plasma-derived medicines is expected to serve as a primary growth driver too.
Over the forecast period, neurology is expected to witness fast growth. As per Multiple Sclerosis Association of America, in 2013, over 400,000 individuals were affected with multiple sclerosis. Moreover, the annual figure of incidences of this disease in the U.S. alone amounted to 10,000. Procedural advantages such as less blood loss and shorter treatment duration owing to complete automation are also expected to have a positive impact on growth of the global apheresis market.
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Increasing Cost of the Apheresis Therapy is a Matter of Universal Concern
Cost and estimates are the main concerns of expansion of use therapeutic method over the next five years. Third-party payers are now attempting to tailor their policies according to the principle of appropriate use. This is to pay for apheresis where and when it is a proven and efficient therapeutic method. Also, there are various studies on the cost of mobilization and apheresis of peripheral blood stem cell (PBSC) that demonstrate the process is costly and that the cost increases with the increase of the number of mobilization attempts. Thus, high capital investment and costs associated with this procedure is acting as major restraints for the growth of the global apheresis market.
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The global apheresis market is highly competitive and fragmented, Transparency Market Research based on a recently published report. This is because of the presence of a large number of players who are pulling out all stops to stay on top of the competition. In the near term, the global apheresis market is likely to witness an intensified competition with the entry of various aspiring players. In order to surge ahead in the global apheresis market, some of the agile players are seen focusing on strategic mergers and acquisitions, and collaborations. They are also investing considerable amount of money into research and development of better products. Deploying such strategies, some of the companies that have come to hold a dominant position in it are Medica S.p.A., Fresenius Kabi AG, Therakos, Inc., Kawasumi Laboratories Inc., and Asahi Kasei Medical Co. Ltd., among others.
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This review is based on a TMR report, titled, "Apheresis Market (Product – Devices and Disposables; Application – Renal Diseases, Neurology, Cancer, Hematology, Autoimmune Diseases, and Cardiovascular Diseases; Procedure – Plasmapheresis, Photopheresis, LDL Apheresis, Plateletpheresis, Leukapheresis, and Erythrocytapheresis; Technology – Centrifugation and Membrane Filtration; End User – Private Blood Collection Centers, Public Blood Collection Centers, and Hospitals) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025."
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