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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