Disposables Dominate the Devices Segment of Global Apheresis Market
Apheresis technology adoption is on rise owing to the introduction of advanced therapies like stem cell therapy, radiotherapy and immunoglobulin therapy. Employing these therapies to prevent chronic diseases encourages adoption of apheresis procedures which boosts the global apheresis market. Apheresis technology is gaining support from authorities of different regions like North America and Europe. Government of these regions are running supportive programs such as Medicare, employee insurance programs, Medicaid and Veterans Health Administration to address issues regarding the high cost of apheresis procedures. Paid plans have been introduced in blood donation segment by private blood collection centers in order to attract donors. Hospitals are increasingly adopting the apheresis procedures. Apheresis equipment are used in various activities like collection and storage of the blood component that are required.
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Japan embraces technological advancements
Latest Fcat.MR report predicts that the global apheresis market will be twice the current volume in the forecast period 2020-2025. North America leads market on the back drop of technological advancements and government support. The quality of health care services have improved considerably in the region. This increases the reliance and trust of the patients on hospitals. Major stake holders have initiated various development initiatives to create advanced apheresis products which attracts patients and expands the patient pool in North America. All the above factors positively influence apheresis market growth in North America. Its market is expected to grow at ̴10% CAGR during the forecast period.
Manufacturers in Japan are embracing technological advancements to foster innovations in order to gain greater penetration in market. The ongoing development of apheresis products in Japan strengthens the market in Asia pacific. Reimbursement strategies have been introduced by the market players in developing economies to strengthen their foot hold. Players are strategizing on the grounds of cost effectiveness to expand their market base in the region.
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New revenue sources pose challenge
The unmet demand of blood components in the health care sector drive the global apheresis market. Demographic shift from single dose apheresis towards double dose has positively influenced the yield of blood components. This shift has compelled the manufactures to come up with the procedures to segregate multiple components at a time. Advanced products like immunosorbent and plasma separators are introduced in the market to serve this purpose. Double dose apheresis procedures are highly popular in region including Japan US and Germany. Disposables are the most preferred in the global market in devices on the backdrop of easy differentiation of different types of products including blood lines and tubing. The growing usage of such products generate lucrative opportunities in global market and increase the sale of disposable products.
New revenue channels present numerous challenges before the apheresis market. Lack of skilled professional is a hurdle in the market growth. Also, the market lacks expert operators to handle apheresis equipment with technological advancements. Expert’s scarcity automatically increases the price of expert resources. The cost concerns about apheresis procedure in developing and under developed economies is expected to shrink the opportunities for market players.
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