Apheresis Equipment Market will grow at 11.4% CAGR till 2024
OCEAN VIEW, Del., Sept. 5, 2017 /PRNewswire-iReach/ -- The Industry outlook report "Apheresis Equipment Market By Product (Machine, Disposable Kits), By Application (Renal Disease, Hematology, Neurology), By Technology (Membrane Filtration, Centrifugation), By Procedure (Plasmapheresis, LDL-apheresis, Plateletpheresis, Leukapheresis, Photopheresis, Erythrocytapheresis), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Japan, China, Brazil, Mexico, South Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2024" by Global Market Insights, Inc. forecast Apheresis Equipment Market share is anticipated to surpass $4.5 billion by 2024.
Beneficial medical compensation plans for apheresis procedures will be one of the key factors accelerating apheresis equipment market growth. Industry experts are heavily involved in strategic mergers & acquisitions and novel product launches to sustain the competition. Just recently, Terumo, a world leader specializing in cellular and apheresis technology, announced the launch of an innovative apheresis device to treat Myasthenia Gravis (MG) disease and Guillain-Barré syndrome. This device, named Spectra Optia Apheresis System is the first and only device of its kind in Europe that is enabled to treat the aforementioned disorders by means of therapeutic plasma exchange.
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The U.S. government makes heavy investments in apheresis research through Medicare, employee insurance, and Medicaid programs. High expenditure on research activities coupled with a steep rise in the number of platelet donors will boost apheresis equipment industry trends. With the introduction of technological advancements, the demand for innovative apheresis devices is expected to surge as well.
High incidences of blood-related disorders such as leukemia and sickle cell anemia coupled with the bulging need for innovative blood component separation techniques will chalk out a profitable roadmap for apheresis equipment industry. An increase in the rate of surgical procedures performed pertaining to the rise in the number of accidents is anticipated to make notable contributions towards the apheresis market revenue.
Browse key industry insights spread across 94 pages with 63 market data tables & 13 figures & charts from the report, "Apheresis Equipment Market" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/apheresis-equipment-market
Apheresis equipment is extensively used in the treatment of neurology, renal diseases, and hematology. Neurology, which accounted for half of apheresis equipment 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 apheresis equipment 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.
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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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