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Pharmacy benefit management market
PLASMAPHERESIS DEVICE MARKET REPORT OVERVIEW
The global plasmapheresis device market size was USD 213 million in 2022 and the market is projected to touch USD 366.72 million by 2032, exhibiting a CAGR of 5.5% during the forecast period.
The plasmapheresis device market is experiencing significant growth, driven by an increasing demand for advanced therapeutic and medical treatments. As medical professionals emphasize the importance of plasma-derived products in treating various conditions, the need for efficient and reliable plasmapheresis devices has grown substantially. Manufacturers in the healthcare sector are responding by developing cutting-edge technologies and user-friendly devices, catering to the evolving needs of healthcare professionals and patients.
Concurrently, the diagnostic equipment market is witnessing a surge in demand, fueled by a growing awareness of preventive healthcare and an emphasis on early disease detection. Consumers and healthcare providers are seeking advanced diagnostic tools that offer accuracy and efficiency in identifying health issues. Industry players are responding by introducing innovative diagnostic equipment, ranging from point-of-care devices to sophisticated imaging systems, contributing to the overall expansion of the diagnostic equipment market and facilitating improved healthcare outcomes.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Lockdown Restrictions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
While the demand for plasma and related therapies surged during the pandemic for treating severe COVID-19 cases, disruptions in healthcare services, logistical challenges, and prioritization of resources towards managing the pandemic had adverse effects. The initial disruptions in the supply chain and manufacturing processes also posed challenges. Overall, the impact tends to lean towards the negative side, as the positive aspects were counterbalanced by various uncertainties and disruptions, affecting the normal functioning and growth trajectory of the plasmapheresis device market.
LATEST TRENDS
"Integration of Automation to Reshape the Market"
A recent trend in the plasmapheresis device market is the increasing integration of automation technology. Recognizing the need for enhanced efficiency and precision in plasma collection, leading manufacturers are incorporating automated features into plasmapheresis devices. This trend not only streamlines the collection process but also minimizes the risk of errors, improves patient comfort, and allows for greater control over the quality and quantity of collected plasma. The integration of automation represents a significant leap forward in optimizing the plasmapheresis experience for both healthcare professionals and donors, aligning with the broader industry goal of advancing therapeutic and medical treatment options.
PLASMAPHERESIS DEVICE MARKET SEGMENTATION
By Type
Based on type the global market can be categorised into Source Plasma Collection, & Therapeutic Plasmapheresis.
- Source Plasma Collection: It involves the separation and extraction of plasma from healthy donors for further manufacturing of plasma-derived medicinal products. This category plays a vital role in meeting the increasing demand for plasma-based therapies.
- Therapeutic Plasmapheresis: It is geared towards medical treatment, where the process is employed to remove specific components from a patient's plasma for therapeutic purposes. This type is crucial in treating various autoimmune disorders, neurological conditions, and other diseases, making it an integral component of advanced medical interventions.
By Application
Based on application the global market can be categorised into Biopharmaceutical Companies, Hospitals & Clinics, & Others.
- Biopharmaceutical Companies: They utilize plasmapheresis devices for the collection of source plasma, a critical raw material for the production of various plasma-derived medicinal products.
- Hospitals & Clinics: They employ plasmapheresis devices for therapeutic applications, treating patients with conditions like autoimmune disorders and neurological diseases.
- Others: This category encompasses diverse applications, including research institutions and blood centers, reflecting the versatility of plasmapheresis technology in different medical and scientific settings.
DRIVING FACTORS
"Rising Prevalence of Chronic Diseases to Fuel the Market Growth"
The increasing prevalence of chronic diseases, such as autoimmune disorders and neurological conditions, is a significant driving factor for the plasmapheresis device market growth. As the global burden of these diseases rises, the demand for therapeutic plasmapheresis procedures to manage symptoms and improve patient outcomes is growing. Plasmapheresis devices play a pivotal role in these treatments by efficiently separating and extracting specific components from the patient's plasma, contributing to the overall expansion of the market.
"Growing Emphasis on Plasma-derived Therapies to Drive Demand in the Market"
The growing emphasis on plasma-derived therapies is a key driver propelling the Source Plasma Collection segment of the plasmapheresis device market. With an increasing awareness of the therapeutic potential of plasma-derived products in treating a range of conditions, biopharmaceutical companies are intensifying their efforts to collect high-quality source plasma. Plasmapheresis devices become instrumental in this process, facilitating efficient and safe collection from donors. The rising demand for plasma-derived medicinal products is, therefore, a driving force stimulating the growth of the plasmapheresis device market in the context of source plasma collection.
RESTRAINING FACTORS
"Regulatory Challenges to Impede the Market Expansion"
One notable restraining factor for the plasmapheresis device market is the presence of stringent regulatory frameworks. The complex and evolving nature of regulations governing the collection and use of plasma poses challenges for market players. Compliance with these standards requires substantial investments in quality assurance and adherence protocols, often leading to increased operational costs. Navigating these regulatory hurdles can slow down the introduction of new devices and innovations to the market, hindering the overall growth and adaptability of the plasmapheresis device industry.
PLASMAPHERESIS DEVICE MARKET REGIONAL INSIGHTS
"North America Leads the Market with Robust Healthcare Sector"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America stands out as the most dominant region in the global plasmapheresis device market share, commanding a significant market share. The region's leadership is attributed to advanced healthcare infrastructure, a robust regulatory framework ensuring product quality and safety, and a high prevalence of chronic diseases. The presence of key industry players and their continuous efforts in research and development further contribute to the region's dominance. Moreover, a growing awareness of plasma-derived therapies and a well-established network of plasma collection centers enhance the utilization of plasmapheresis devices. These factors collectively position North America at the forefront of the plasmapheresis device market, driving its sustained dominance.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
Key industry players are instrumental in shaping the plasmapheresis device market. These market leaders exhibit a strong influence through their innovative product developments, strategic collaborations, and global market presence. Their continuous investments in research and development drive advancements in plasmapheresis technology, contributing to improved device efficiency and patient outcomes. Additionally, these players play a crucial role in shaping industry standards, influencing regulatory landscapes, and fostering the overall growth and evolution of the plasmapheresis device market.
List of Market Players Profiled
- Fresenius Medical Care (Germany)
- Haemonetics Corporation (U.S.)
- Fenwal (U.S.)
- Terumo BCT (U.S.)
- Asahi Kasei Medical (Japan)
- Nikkiso (Japan)
- Nigale Biomedical Inc (China)
INDUSTRIAL DEVELOPMENT
February 2022: Automated plasma separation systems have been one of the several latest innovations in the market. These systems use robotics and automation to streamline the plasmapheresis process, reducing human error and improving efficiency. This includes automated vein access, blood separation, and plasma collection, minimizing manual intervention.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 213 Million in 2022 |
Market Size Value By |
US$ 366.72 Million by 2032 |
Growth Rate |
CAGR of 5.5% from 2022 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the plasmapheresis device market expected to touch by 2032?
The plasmapheresis device market is expected to reach USD 366.72 million by 2032.
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What CAGR is the plasmapheresis device market expected to exhibit by 2032?
The plasmapheresis device market is expected to exhibit a CAGR of 5.5% by 2032.
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Which are the driving factors of the market?
Growing Emphasis on Plasma-derived Therapies, and Rising Prevalence of Chronic Diseases are some of the driving factors of the market.
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What are the key market segments?
The key market segmentation that you should be aware of include: Based on type the market is classified as Source Plasma Collection, & Therapeutic Plasmapheresis. Based on application the market is classified as Biopharmaceutical Companies, Hospitals & Clinics, & Others.