The global apheresis equipment market size was valued at USD 1,395.9 million in 2015 and is expected to reach USD 3,732.6 million in 2024, growing at a CAGR of 11.5% during the forecast period. Presence of favorable government initiatives and reimbursement framework is expected to boost demand during the forecast period.
Factors influencing the apheresis equipment market
Furthermore, rise in the number of platelet donors and R&D investments by biopharmaceutical companies are expected to serve as high impact rendering drivers.
Rising incidence of blood-related disorders is expected to boost demand by increasing the usage rates of apheresis machines and kits. According to the NHSBT the demand for platelets is expected to grow at a rate of 3% annually from 2011 to 2014. Moreover, growing awareness levels pertaining to platelet donation is anticipated to support demand in developed economies.
Global Apheresis Equipment Market Snapshot, 2015
Presence of high unmet needs and rapidly increasing demand for platelets in the emerging Asia Pacific and Latin American regions is expected to serve this industry as future growth opportunities. As per the reports published by of the National Center for Biotechnology Information, chronic renal diseases have a prevalence of 8% to 16 worldwide.
Kits are bundled together and are inclusive of filters, separators, tubing set, and other components. High usage volume coupled with rapidly growing demand for apheresis procedures are some factors attributing to its large share. In addition, single usage helps in limiting device-related blood infections in donors and patients, thereby boosting segment growth.
Plasmapheresis accounted for the largest share of about 50.0% of the overall procedure market in 2015. Plasmapheresis developed in 1951 by Grifols is a procedure involving the separation of plasma from blood cells. Plasma-based drugs are also administered to patients with weak immune systems in an attempt to increase resistance to infection/disease. Rising incidence of blood-related disorders and growing demand for plasma-derived medicines is expected to serve as a primary growth driver.
Over the forecast period, neurology is expected to witness the fastest growth. As per Multiple Sclerosis Association of America, in 2013, over 400,000 individuals were affected with multiple sclerosis. Moreover, the annual incidence of this disease in the U.S. alone amounted to 10,000. Procedural advantages such as lower blood loss and shorter treatment duration owing to complete automation are also expected to have a positive impact on growth.
Apheresis machines function by either membrane filtration or centrifugation to help separate the various blood components. As of 2015, centrifugation held majority shares, however, over the forecast period, membrane filtration is predicted to register more growth.
Membrane filters are significantly useful in filtration of plasma from other cellular components as opposed to centrifuges, which are useful for specific cell separation. This method is less time consuming and avoids depletion of blood coagulation factors and, thus, decreases the need for replacement fluids. Higher efficacy exhibited by this technology accounts for its high usage in the developed Western European regions and Japan.
North America held the largest share of the apheresis equipment market in 2015 at 46.7% because of the presence of sophisticated healthcare infrastructure and high patient awareness levels coupled with relatively higher healthcare expenditure.
Asia Pacific regional market is expected to register the highest increase in revenue share during the forecast period. Growing prevalence of blood disorders requiring plasma and platelet transfusion in the emerging markets of India and China is one of the key factors accounting for this growth in revenue share.
In addition, improving healthcare infrastructure and increasing number of healthcare practitioners in this region is expected to present the industry with a robust growth platform during the forecast period.
Some of the companies catering to the apheresis equipment industry include Haemonetics Corporation; Fresenius Kabi (Fenwal); Asahi Kasei Kuraray Medical Co. Ltd.; Terumo BCT, Inc.; HemaCare Corporation; Therakos, Inc.; B. Braun Melsungen AG; and others.
Strategic framework among key players of the apheresis equipment market, 2015
The market is oligopolistic in nature and is marked by an extensive presence of mergers and acquisitions. New product developments, acquisitions, and strategic alliances are some major sustainability strategies adopted by the industry players. Fresenius, owing to a wide presence of distribution network and product portfolio, is a predominant player of the industry.
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This report forecasts revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global apheresis equipment market on the basis of product, procedure, application, technology and region:
Disposable apheresis kits
Apheresis machine
Renal diseases
Hematology
Neurology
Others
Plasmapheresis
LDL-apheresis
Plateletpheresis
Leukapheresis
Photopheresis
Erythrocytapheresis
Others
Membrane Filtration
Centrifugation
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
MEA
South Africa
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