New York, Aug. 07, 2019 (GLOBE NEWSWIRE) -- High target disease prevalence, technological advancements and favorable research funding scenario are key factors contributing to high CAGR of Apheresis Equipment during forecast period.
According to the current analysis of Reports and Data, the global Apheresis Equipment market was valued at USD 1.62 Billion in 2018 and is expected to reach USD 2.98 Billion by year 2026, at a CAGR of 7.8%. Apheresis is a medical procedure that involves removing the whole blood from a donor or a patient and separating the blood into individual components so that a particular component can be removed. It is a non-invasive procedure and takes less than a few hours. Thus, the procedure is favored by the people. The procedure is also known as Pheresis or Hemapheresis. The procedure is performed outside the body and is therefore an extracorporeal procedure.
In the recent times there has been an increase in the number of people suffering from leukemia, cancer. This has resulted in a need for plasma transfusions. This has further led to a rise in the demand for apheresis equipment. The biggest restraining factor of this market are the risks of this procedure. Risks such as, bleeding, infection, low blood pressure, muscle cramps etc. demotivate the people from opting this procedure.
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Further key findings from the report suggest
- Rising number of target diseases and blood disorders has led to a need for plasma and platelets across the globe. This has led a rise in the demand for apheresis which consequently has led to an increase in the demand for apheresis equipment.
- With the growing infrastructure there has been a rise in the number of established blood banks with proper equipment and facilities. The expansion of these blood banks has resulted in a rise in the demand for apheresis equipment.
- The governments of several countries are trying to build better infrastructure for the healthcare sector. This has led to a significant increase in the demand for the equipment.
- The continuous research and development for the launch of improved and more efficient equipment has, also, encouraged market demand.
- The high costs and lack of skilled staff for proper management of the apheresis equipment, especially, in developing countries, pose to be some of the major restraining factors of the market.
- In addition to the high costs, the risks of this procedure such as, bleeding, infection, low blood pressure, muscle cramps etc. also discourage the people from opting this procedure.
- Plasmapheresis procedure dominates the market. It accounts for a share of 51.9% owing to the growing incidents of blood related disorders and consequently the need for plasma. With the introduction of plasma based drugs, there has been a rise in the demand or plasma thus, increasing the demand for apheresis equipment. The procedure is expected to continue its growth at a CAGR of 8.2%.
- Centrifugation technology dominates the market due to its versatility of application in the separation of plasma and other components. Membrane Filtration is identified as the fastest growing type of technology as this method is quicker and reduces the need for replacement fluids.
- Disposable apheresis kits dominate the market. The single use kits are preferred by many as they reduce the chances of infections. They occupy 55.9% of the market.
- North America dominates the market. The region accounts for a market share of 44.3%. This can be attributed to the high patient awareness and better infrastructure.
- Europe accounts for 26.9% of the market share owing to the continuous research and development in the region and high patient awareness.
- Asia Pacific is the fastest growing region in the market and registers a growth rate of 8.8%. This can be attributed to the availability of resources. A large number of emerging economies are developing their healthcare infrastructure and launching aids to help the authorities to set up. The rising awareness of blood donation and apheresis among people has resulted in an increase in the demand for apheresis equipment.
- The key players include, Terumo BCT Inc., B. Braun Melsungen AG, Fresenius Medical Care, Asahi Kasei Medical Co. Ltd., Haemonetics Corporation and HemaCare Corporation.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/apheresis-equipment-market
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Apheresis Equipment market on the basis of type, application, technology type, procedure, and region:
Type (Revenue, USD Billion; 2016–2026)
- Plasma and Component Separator
- Disposable Apheresis Kits
- Others
Application (Revenue, USD Billion; 2016–2026)
- Renal Diseases
- Neurology
- Hematology
- Others
Technology Type (Revenue, USD Billion; 2016–2026)
- Centrifugation
- Membrane Filtration
Procedure (Revenue, USD Billion; 2016–2026)
- Plasmapheresis
- Plateletpheresis
- Leukapheresis
- Erythrocytapheresis
- LDL- Apheresis
- Others
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Regional Outlook (Revenue in USD Billion; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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