Global Apheresis Market Expected to Reach $4,200.6 Million by 2023
PORTLAND, Oregon and PUNE, India, May 29, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, Apheresis Market by Product, Method, Procedure, Component, and End User: Global Opportunity Analysis and Industry Forecast, 20172023, the global apheresis market was valued at $2,560.4 million in 2016, and is projected to reach $4,200.6 million by 2023, growing at a CAGR of 7.3% from 2017 to 2023. The disposable & reagents segment accounted for four-ninths of the total market share in 2016.
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Apheresis system assists in the collection and separation of blood components for donation. In addition, this system can perform removal or exchange of blood components for therapeutic procedures. The American National Red Cross offers various therapeutic apheresis services across the U.S. that include plasmapheresis, photopheresis, LDL apheresis, and stem cell harvest. In addition, the center has employed qualified and specialized staff for apheresis procedures while maintaining the accessibility and availability regarding the same. Increase in the number of such blood centers across the globe significantly drives the growth of the apheresis market.
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In addition, rise in government initiatives that promote blood donations in the developing countries such as China and India propels the market growth. For instance, Twitter has recently launched a social initiative called BloodMatters in India on March 2018. Twitter has collaborated with the voluntary blood donation helpline named Blood Donors. Moreover, increase in number of blood donations was observed in China in 2014, which led to increase in the number of blood centers in the country. Such circumstances positively impact the market growth.
The centrifugation method generated the highest revenue in 2016, and is expected to maintain this dominance throughout the forecast period. This is attributed to the fact that centrifugation is considered to be a standard method for apheresis, and is highly favored by the blood industry across the globe. However, the membrane separation segment is expected to register the highest growth rate during the forecast period, owing to rise in demand for membrane separation apheresis, as it prevents the need for replacement fluids by not depleting the blood coagulation factors.
Based on procedure, the market is divided into donor/automated apheresis and therapeutic apheresis. Donor/automated apheresis is anticipated to dominate the global market throughout the forecast period, due to increase in gap between blood supply and blood products, which facilitate the need for using apheresis machines. Moreover, rise in apheresis procedures across several specialties such as hematology, neurology, and oncology has contributed towards the robust growth displayed by this segment. The therapeutic apheresis is expected to grow at the highest rate from 2017 to 2023.
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Key Findings of the Apheresis Market:
- The platelets (plateletpheresis) segment is expected to register the highest growth rate from 2017 to 2023.
- Blood centers accounted for maximum revenue in 2016, and is anticipated to maintain this trend throughout the forecast period.
- North America dominated the global apheresis market, accounting for maximum share in 2016, and is expected to retain the same trend during the forecast period.
- Intermittent flow centrifugation segment dominated the centrifugation apheresis market in 2016 and is expected to maintain this trend during the forecast period.
- Photopheresis is estimated to exhibit the highest CAGR of 9.3% from 2017 to 2023 in the therapeutic apheresis market.
Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to its high population base, upsurge in disposable income, and rise in patient awareness towards blood donation. In addition, increase in incidence of dengue across countries in the Asia-Pacific region is the key contributor for the market growth in the region.
The major companies profiled in this report include Haemonetics Corporation, Fresenius Kabi, Terumo BCT, Inc., Asahi Kasei Medical Co., Ltd., HemaCare Corporation, Kaneka Corporation, Kawasumi Laboratories Inc., Cerus Corporation, B. Braun Melsungen AG, and Nikkiso Co., Ltd. Other prominent players in the value chain include Grifols International SA, Baxter International Inc., CSL Behring, Immucor, Becton, Dickinson & Co., Abbott Laboratories, Medicap, and Bioelettronica.
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