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$4.5bn by 2024| Apheresis Equipment Market set for massive growth

Author : Rahul Sankrityayan | Published Date : 2019-03-27 

Global Apheresis Equipment Market is set to exceed USD 4.5 billion by 2024; as per a new research report by Global Market Insights, Inc. Increasing incidence of cardiovascular disorders such as sickle cell anemia, leukemia, rising demand for automated blood component separation procedures along with growing awareness regarding apheresis blood collection should drive global size.
 
Growing adoption of technologically advanced automated products should drive apheresis equipment market growth over the forecast period.  Various technological advancements such as automatic apheresis equipment with continuous flow centrifugation, automated interface system, and facilities such as customized anticoagulant infusion system, screen navigation, and GUI display. These advancements are expected to boost apheresis equipment demand.

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Apheresis equipment is extensively used in the treatment of neurology, renal diseases, and hematology. Neurology, which accounted for half of market revenue in 2015, will grow at an annual rate of 12.3% over 2016-2024. Increased occurrence of neurological disorders such as autoimmune disease and multiple sclerosis will drive apheresis equipment industry in neurology applications.

Based on the product trends, apheresis equipment market is classified into disposable apheresis kits and apheresis machines. Disposable apheresis kits dominated the product landscape with a contribution of more than 78% toward apheresis equipment industry share in 2015. Growing popularity along with significantly lower costs will drive the product demand, leading to disposable market earning a revenue of USD 2,944 million by 2024. Apheresis machines are expected to register significant gains of 17.1% over the coming seven years, driven by escalating requirement for automated component separation equipment.

Europe apheresis equipment market was worth USD 365 million in 2015 and will collect a revenue of more than USD 1,084 million by 2024, owing to the implementation of supportive rules and regulations. Industry giants are also keen to expand their business space across this region, making it an attractive growth avenue. UK and Germany together accounted for more than 27% of the revenue share in 2015.

U.S. apheresis equipment industry contributed majorly toward the North America market size by exceeding a share of 87% in 2015 and will exhibit an annual growth rate of more than 9% over the period of 2016 to 2024. The growth can be attributed to the increasing requirement of automated and technically enhanced products across this region. In addition, the availability of subsidies and refund facilities will also augment the industry growth.

Asia Pacific apheresis equipment market share will generate more than USD 1,265 million by 2024, primarily driven by the surging demand for platelets and plasma pertaining to the increasing prevalence of blood disorders across the emerging countries such as China and India. Japan will also contribute noticeably toward the APAC regional growth as a result of rising adoption of advanced apheresis products along with growing occurrence of cardiovascular diseases.

Strategic partnerships, M&As, and global expansion with major focus on the emerging economies are some of the major business growth strategies adopted by the industry giants. Notable participants in apheresis equipment market are Fresenius Kabi, B.Braun Melsungen, Terumo Corporation, Haemonetics, Kawasumi Laboratories, Therakos, Fenwal Inc, and Hemacare Corporation.

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Market By Product

Disposable Kit
Apheresis Machines

Market By Application

Renal Disease
Neurology
Hematology

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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