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Press Release: Leukapheresis Devices Market to Surpass US$ 37.40 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Leukapheresis is a procedure used to treat chronic lymphocytic leukemia (CLL) or patients with very high white blood cell counts. Leukemia starts in early forms of blood cells, usually white blood cells or leucocytes, which helps to fight against infections caused by foreign particles.
The leukapheresis devices market is estimated to be valued at US$ 22.32 million in 2020 and is expected to exhibit a CAGR of 7.6% during the forecast period (2020-2027).
Figure 1: Leukapheresis Devices Market Share (%) Analysis, By Region, 2020
Increasing incidence of leukemia and number of blood donations are expected to drive the market growth over the forecast period
According to the International Agency for Research on Cancer (IARC), in 2018, around 437,033 cases of leukemia were registered and 309,006 deaths occurred due to leukemia, globally.
The need for blood and blood products is increasing every year in many countries - particularly low and middle income countries. Transfusion of blood and blood products help patients suffering from life-threatening conditions to live longer and maintain a higher quality of life, and it supports complex medical and surgical procedures.
According to the American National Red Cross 2020, around 21 million blood components are transfused each year in the U.S.
Leukapheresis Market- Restraints
However, high cost associated with apheresis procedure and devices are major factors that hinder growth of the market. For instance, in the U.S., the cost of an apheresis procedure is around US$ 2,500 per treatment, which is very high. Furthermore, in India, the apheresis machine costs US$ 23,459 and there is an apheresis kit, which is required for separating components costing around US$ 134, which is very costly for low-income individuals to afford.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 22.32 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 7.6% | 2027 Value Projection: | US$ 37.40 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Asahi Kasei Medical Co. Ltd., Haemonetics Corporation, Terumo BCT Inc., STEMCELL Technologies Inc., Fresenius SE & Co. KGaA, BioIVT, Grifols, S.A, and Key Biologics, LLC |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Leukapheresis Market– Regional Analysis
North America accounted for the largest share in the leukapheresis devices market in 2019, owing to increasing prevalence and incidence of leukemia in this region. According to Leukemia and Lymphoma Society (LLS), in 2019, around 61,780 people were diagnosed with leukemia. According to Leukemia and Lymphoma Society and American Cancer Society, from 2011-2015, in the U.S., leukemia was the sixth most common cause of cancer death in both men and women.
Furthermore, Asia Pacific is expected to witness the fastest growth during the forecast period. Owing to increasing geriatric population and health expenditure. For instance, according to the Population Census 2011, there were around 104 million elderly persons (aged 60 years or above) in India; 53 million females and 51 million males, and is expected to reach 173 million by 2026 in India.
Figure 2: Leukapheresis Devices Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027
Leukapheresis Market- Competitive Landscape
Key players operating in the leukapheresis devices market include Asahi Kasei Medical Co. Ltd., Haemonetics Corporation, Terumo BCT Inc., STEMCELL Technologies Inc., Fresenius SE & Co. KGaA, BioIVT, Grifols, S.A, and Key Biologics, LLC.
Leukapheresis is a process, in which white blood cells are separated from a sample of blood. It is a specific type of apheresis used for separating a particular constituent of blood and returning the remaining part to the circulation. Leukapheresis is distinctly different from plasmapheresis and red cell exchange procedures.
Market Dynamics
The global leukapheresis devices market is expected to witness significant growth during the forecast period, owing to increasing prevalence of leukemia. For instance, according to the National Cancer Institute, in 2017, there were an estimated 434,982 people living with leukemia in the U.S. and according to the same source, the number of new cases of leukemia increased on an average rate of 0.3% each year over the last 10 years (from 2006 to 2015).
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 35 market data tables and 32 figures on "Global Leukapheresis Devices Market” - Forecast to 2027”
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