Leukapheresis Devices Market Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Leukemia

Purvaja Jadhao

posted on 10 months ago — updated on 1 second ago

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The leukapheresis devices market is estimated to be valued at US$ 29.9 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Leukapheresis Devices Market Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Leukemia

Market Overview:
Leukapheresis devices are used for the collection of white blood cells or leukocytes from the blood of donors or patients. These devices are used for collecting specific types of white blood cells for research purposes, leukocyte transfusion therapy, or preparing hematopoietic stem cells for transplantation.

Market Dynamics:
The leukapheresis devices market is witnessing high growth owing to increasing prevalence of leukemia. According to the American Cancer Society, around 60,530 new cases of leukemia are estimated to be diagnosed in the U.S. in 2022. Further, increasing use of leukapheresis devices for stem cell transplants and research activities is also fueling market growth. As per reports, around 25,000 stem cell transplants are performed annually worldwide. In addition, advancing technologies to improve the efficiency of leukapheresis procedures is another factor driving the market growth over the forecast period.

SWOT Analysis

Strength: Leukapheresis Devices Market Demand help separate white blood cells from whole blood in an effective manner. They offer precise separation with minimal contamination risks. They help collect specific types of white blood cells based on cell surface markers. The automated process ensures consistency and reduces manual errors.

Weakness: Leukapheresis devices require substantial capital investment which impacts their adoption. The procedure can cause discomfort to some donors due to prolonged arm immobilization. There are also risks of infections, hematoma and thrombosis associated with leukapheresis.

Opportunity: Rising prevalence of blood cancers and autoimmune disorders is driving the need for leukapheresis. Growing stem cell therapy market also presents opportunities. In addition, technological advancements are making devices portable with improved yield and donor comfort.

Threats: Stringent regulatory requirements for approving new devices increase developmental challenges and costs. Reimbursement limitations in some countries restrict market revenue. Intense competition further squeezes profit margins.

Key Takeaways

The global leukapheresis devices market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing prevalence of blood cancers. The market size is estimated to reach US$ 51.3 Mn by 2030 from US$ 29.9 Mn in 2023.

Regional analysis: North America dominates the leukapheresis devices market currently owing to presence of advanced healthcare infrastructure and funding for research. However, Asia Pacific is likely to emerge as the fastest growing market during the forecast period supported by rising medical tourism, increasing healthcare spending and expanding clinical trials.

Key players analysis: Key players operating in the leukapheresis devices market are Asahi Kasei Medical Co. Ltd., Haemonetics Corporation, Terumo BCT Inc., STEMCELL Technologies Inc., Fresenius SE & Co. KGaA, BioIVT, Grifols, S.A, HemaCare, B. Braun Melsungen AG, Caltag Medsystems Limited, AllCells, StemExpress, PPA, Cellero, Precision for Medicine, Inc., The Intelligent Tissue Group Lonza, BioIVT, Lmb Technologie GmbH, Kaneka Medical Europe N.V. and Key Biologics, LLC.