Applications of Apheresis Procedures In Neurology are Projected to Show a Significant Rise : Fact.MR
Recent shift from single dose to double dose apheresis is indicative of the high demand for apheresis procedures among patients suffering from chronic diseases. Leading industry players are taking calculated growth measures to expand the application of the therapeutic apheresis procedure, which is currently used as the first line and supportive therapy in the treatment of over 87 diseases, as found by the American Society for Apheresis (ASFA). However, lack of availability of donors and concerns regarding histocompatibility could create negative sentiments among patients, inadvertently impeding revenue potential of the apheresis market to a certain extent. Defying all odds though, the apheresis market is projected to progress at an impressive CAGR of ~10% during the forecast period (2020 – 2025), as noted by Fact.MR in its latest study on the market.
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Key Takeaways of Apheresis Market Study
• Double dose apheresis is projected to gain prominence as the standard apheresis procedure in developed countries such as the U.S. Japan, and Germany, given an increase in awareness regarding apheresis procedures, competent plasma separator systems, and favourable reimbursement scenarios.
• Low availability of skilled professionals to perform apheresis procedures, in turn, increases the cost of operations, which could encourage patients to seek alternative treatments. This factor will be more impactful in economically-backward and developing regions, wherein, healthcare quality is still not at par with global standards.
• The popularity of plasmapheresis will remain high through 2027, on the backdrop of the high demand for plasma from pharmaceutical and biotechnology industries for the development of novel therapeutics.
• Applications of apheresis procedures in neurology are projected to show a marginal rise during the forecast period, as these procedures are recommended as the first line of treatment for neurological diseases such as Guillain-Barre syndrome (GBS), chronic focal encephalitis, multiple myeloma, and myasthenia gravis.
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“Increasing prevalence of leukaemia and autoimmune disorders among children unfolds a new demography for players to cater to in the apheresis market, as a majority of apheresis therapies are only available for adult patients”, opines a senior market consultant at Fact.MR.
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High Entry Barrier in Apheresis Market; Competition Continues to Intensify
The competition is high in the apheresis market, and is likely to intensify in the future, as the number of centres offering apheresis procedures is increasing. Cost-competitiveness remains a key strategy to maintain or increase share in the apheresis market. Existing players will witness low competition from new market entrants, as these players are well-established in the apheresis market with sound financial reserves, which enables them to easily scale their position. On the other hand, an entry into the apheresis market means high level of investment, sound technical knowledge, and licensing requirements, which is creating entry barriers for new players.
The current strategy of players in the apheresis market involves a scramble towards the Asia Pacific and Latin American markets. Besides inorganic growth, players seek market success by maintaining high research & development standards to target multiple applications through their products.
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Find More Valuable Insights on Apheresis Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global apheresis market, presenting historical demand data (2015-2019), and forecast statistics for the period of 2020-2025. The study divulges compelling insights on the apheresis market on the basis of end user (hospitals and blood collection centres), technology (centrifugation and membrane filtration), procedure (plasmapheresis, photopheresis, LDL apheresis, plateletpheresis, leukapheresis, erythrocytapheresis, and others), product (devices and disposables), and application (renal diseases, neurology, haematology, cancer, autoimmune diseases, cardiovascular diseases, and others), across five major regions.
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