Plasmapheresis Market

Market Synopsis:

Global Plasmapheresis Market is valued at USD 1,075.9 Million in 2021 and is projected to reach a value of USD 1,697.8 Million by 2028 at a CAGR of 7.90% over the forecast period.

The Plasmapheresis Market is experiencing significant growth during the forecast period owing to the increasing awareness about the benefits of source plasma collection to save multiple patients' lives when compared with the traditional whole blood collection and is significantly transforming the overall blood collection industry. Moreover, the growth in occurrences of autoimmune diseases has led to an upsurge in the demand for Plasmapheresis globally. Increasing necessity for conducting an extracorporeal therapy which is expected to have a positive impact on the growth of global autoimmune diseases during the forecast period. Where, some of the autoimmune diseases that gradually fuel the demand for Plasmapheresis involve type 1 diabetes, rheumatoid arthritis, celiac disease, lupus, and temporal arthritis. According to recent research, the CDC specified that 9.4% of the population in the United States is suffering from diabetes which is 30.3 Million people globally. Furthermore, Plasmapheresis is also used for the treatment of various forms of diseases like Neurotherapy and sickle cell diseases which are expected to drive the demand for Plasmapheresis in the coming years. Manufacturers in the healthcare industry are gradually integrating various innovative features and technological advancements in the Plasmapheresis tools like apheresis machines in order to provide advanced devices for conducting Plasmapheresis globally, this is the major factor expected to fuel the Plasmapheresis market growth during the forecast period. Increasing necessity for the products of blood donating and manufacturing biopharmaceutical products which have led to rising demand for Plasmapheresis globally is the factor projected to fuel the growth of the market during the forecast period. However, the lack of skilled professionals and the complications associated with the procedures of apheresis is expected to hamper the growth of the Plasmapheresis market during the forecast period. Whereas, increasing demand for plasma-derived pharmaceuticals is expected to offer profitable opportunities for the expansion of the Plasmapheresis Market in coming years.

Market Segmentation:

The Plasmapheresis Market is segmented on the basis of product, technology, application, and end-user. On the basis of product, the market is segmented as Instruments and Disposables. Based on technology the market is segmented as Membrane Filtration, and Centrifugation. Based on application the market is segmented as Source Plasma Collection and Therapeutic Plasmapheresis. Based on end-user the market is segmented as Biopharmaceutical Companies, Hospitals &Clinics, and others.

The Disposable Segment is Expected to Hold the Largest Market Share

Based on product, the disposable segment is projected to hold the largest market share and dominate the Plasmapheresis Market during the forecast period. The growth of the disposable segment is attributed to extensive advancements that take place in the manufacturing of blood bags, disposable kits, and tubing. Moreover, disposable kits include separators, filters, blood bags, tubing sets, and other disposables, which are used on a large scale during the processing of blood. Furthermore, other disposables involve reagents, anticoagulants, and small components related to the tubing assemblies.

Centrifugation Segment is Accounted for a Significant Market Share

Based on technology, the centrifugation segment is accounted to hold the largest market share during the forecast period. The growth of the centrifugation market is attributed to the predominant use of centrifugation in the production of blood components like fresh frozen plasma (FFP) and packed red blood cells (PRBCs) in a single-step heavy spin.

North America Leads the Global Plasmapheresis Market

North America is predicted to dominate the Plasmapheresis market owing to the growth in awareness among doctors. Whereas, Plasmapheresis is increasingly adopted in the treatment of rare diseases like thrombotic thrombocytopenic purpura (TTP), Goodpasture’s syndrome, Wegener’s granulomatosis, and Guillain Barre syndrome. North America is witnessing increasing demand for plasma products and the increasing occurrences of chronic diseases which are predicted to drive the necessity for pharmaceutical therapies that mainly uses plasma products. An increase in demand for plasma-derived pharmaceutical products, rise in healthcare expenditure, and prevalence of chronic diseases are expected to drive the Plasmapheresis Market.

Asia Pacific region has been witnessing significant growth in demand for plasma products and increasing incidences of chronic diseases such as hemophilia, thalassemia, etc., which are driving the need for pharmaceutical therapies that utilize plasma products. An upsurge in demand for pharmaceutical therapies, increase in healthcare expenditure, and prevalence of chronic diseases are expected to drive the Plasmapheresis Market in the Asia Pacific region during the forecast period.

Competitive Landscape:

The Plasmapheresis market is highly fragmented in nature due to the presence of key players in the market. Some of the major players in the market are Asahi Kasei Corporation (Japan), Terumo Corporation (Japan), Baxter International Inc. (U.S.), B. Braun Melsungen AG (Germany), Kawasumi Laboratories Inc. (Japan), Kaneka Corporation (Japan), Haemonetics Corporation (U.S.), Fresenius SE & Co. KGaA (Germany), Shanghai Dahua Medical Apparatus Co., Ltd. (China), Infomed SA (Switzerland)..

Segmentation of Plasmapheresis Market: