The Leukapheresis Devices Market Is Estimated To Witness High Growth Owing To Rising Demand For CLL Treatment

 
Leukapheresis Devices Market

Market Overview:

Leukapheresis devices are medical devices used for collecting white blood cells or leukocytes from blood through a process called leukapheresis. The collected leukocytes are further utilized for stem cells harvesting and processing in conditions like chronic lymphocytic leukemia (CLL). Leukapheresis devices offer advantages like less invasive collection method, minimal discomfort to patients, and provide high yield and purity of cells collection compared to traditional leukapheresis methods.

Market key trends:
One of the key trends boosting the growth of leukapheresis devices market is rising demand for chronic lymphocytic leukemia (CLL) treatment. CLL is a type of cancer of the white blood cells or lymphocytes and affects around 20,000 Americans every year. Leukapheresis plays an important role in CLL treatment as it helps in harvesting stem cells which are further used for stem cell transplant procedures. Stem cell transplant aids in replacing the defective blood stem cells in patients with CLL. Moreover, increasing awareness about leukapheresis therapy and better reimbursement policies for CLL treatment are also fueling the adoption of leukapheresis devices.

Porter’s Analysis:
Threat of new entrants: Low capital requirement but highly competitive industry prevents easy entry for new players. Regulations add complexity and costs as barrier.
Bargaining power of buyers: Buyers have moderate to high bargaining power due to availability of alternative treatment options and fragmented nature of buyers which are mostly hospitals and clinics.
Bargaining power of suppliers: Key raw material suppliers like blood banks enjoy low bargaining power due to availability of alternatives and lack of product differentiation.
Threat of new substitutes: Threat of new substitutes is high with advancement in cell therapies and regenerative medicine.
Competitive rivalry: High level of competition due to presence of global and regional players.

SWOT Analysis:
Strengths: Advanced Leukapheresis Devices Market Demand improves cell collection efficiency. Increasing applications in cancer immunotherapy and autoimmune disorders.
Weaknesses: High costs associated with device and procedure limits widespread adoption. Limited reimbursements.
Opportunities: Growing stem cell research and clinical trials. Rising geriatric population and incidence of blood disorders and cancers. Untapped potential in developing markets.
Threats: Stringent regulatory framework. Reimbursement policies. Ethical issues regarding stem cell research limits commercial opportunities.

Key Takeaways:
The global Leukapheresis Devices Market is expected to witness high growth at a CAGR of 7.9% over the forecast period of 2023 to 2030 due to increasing adoption in cancer immunotherapy and rising stem cell based clinical trials. The market size for 2023 is anticipated to reach US$ 29.9 Mn.

Regionally, North America dominates the global market and is expected to grow at a high pace during the forecast period owing to robust research infrastructure, technological advancements and presence of key market players in the region. Asia Pacific is projected to exhibit fastest growth owing to rising healthcare expenditure, growing burden of blood disorders and rising medical tourism in the region.

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.

Read More:

https://www.dailyprbulletin.com/the-growth-of-leukapheresis-devices-market/

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