The global apheresis market is considered as a highly competitive market with a large number of players operating in it, states a new market intelligence study by Transparency Market Research. The intensity of the competition is likely to increase significantly with the entry of new players in the next few years. To maintain their position and enhance their market penetration across the globe, the leading players are focusing on the strategic collaborations and mergers and acquisitions.
Moreover, the expansion of the product portfolio and the rising research and development activities are projected to accelerate the growth of the overall market in the near future. Some of the key players that are operating in the apheresis market across the globe are Medica S.p.A., Fresenius Kabi AG, Therakos, Inc., Kawasumi Laboratories Inc., Asahi Kasei Medical Co. Ltd., Terumo Corporation, NIKKISO CO., LTD., B. Braun Melsungen AG, Haemonetics Corporation, and Cerus Corporation.
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As per the market research study by Transparency Market Research, the global market for apheresis is projected to reach a value of US$4.33 bn by the end of 2025, from the initial value of US$1.85 bn. The market is predicted to register a promising 10.20% CAGR between 2017 and 2025.
North America to Lead Global Apheresis Market in Coming Years
In the last few years, North America led the global market with a large share and is likely to remain in the similar position in the coming few years. The presence of well-established health infrastructure and the growing demand for plasma for the production of plasma-derived medicine are the key factors encouraging the growth of the North America market in the near future.
Furthermore, Asia Pacific is predicted to witness high growth, owing to the rising geriatric population and the rising prevalence of several choric diseases. Moreover, the increasing healthcare expenditure is another key factor that is likely to enhance the growth of the market in the near future.
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The global apheresis market has been categorized on the basis of procedure into photopheresis, leukapheresis, LDL apheresis, plasmapheresis, plateletpheresis, erythrocytapheresis, and others. Among these, the plasmapheresis segment is projected to lead the global apheresis market with a large share in the next few years. The rising application of therapeutic plasma exchange is one of the major factors estimated to encourage the growth of this segment in the next few years.
As per the study, the segment is likely to exhibit a healthy 8.90% CAGR between 2017 and 2025. On the other hand, the photopheresis segment is estimated to register a promising growth rate in the next few years, thanks to the technological advancements and increasing applications in hematology and cancer treatments.
Favorable Reimbursement Policies to Encourage Market Growth
The increasing prevalence of diseases and the rising number of injury and trauma cases are considered as the key factors that are projected to encourage the growth of the apheresis market in the next few years. In addition to this, the rising number of complex surgical procedures and the favorable reimbursement policies for apheresis procedure are estimated to enhance the growth of the market in the coming years.
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On the flip side, the scarcity of qualified doctors and the high cost of apheresis procedures and devices are predicted to restrict the growth of the overall market in the next few years. Nonetheless, the developing nations, across the globe are expected to offer potential growth opportunities for the market players, thus supporting the growth of the overall market in the near future. Moreover, the rising government investments and the increasing competition among players are predicted to enhance the growth of the market in the near future.
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