Market Overview:
Leukapheresis devices are medical devices used to separate white blood cells from other blood components. These devices play an important role in collection of specific white blood cells from blood for therapeutic applications such as collecting leukemia cells from blood of leukemia patients or collecting stem cells from bloodstream for bone marrow or stem cell transplantation. Leukapheresis devices help in rapid and efficient collection and separation of white blood cells from blood with minimal contamination of other components. Increase in blood disorders and rise in adoption of immunotherapy procedures is expected to drive the demand for leukapheresis devices over the forecast period.
Market key trends:
One of the major trends in the leukapheresis devices market is the growing adoption of automation. Key players are focusing on developing advanced automated leukapheresis devices to minimize human error and make the procedure more efficient. For instance, in 2021, Haemonetics Corporation launched PCS2 Plasma Collection System which features touchscreen interface and automation to optimize plasma collection process.
Another key trend is the increasing usage of leukapheresis for stem cell collection. Leukapheresis is increasingly being used to collect stem cells from peripheral blood for stem cell transplantation in treatment of various blood cancers and blood disorders. Stem cell transplantation procedures have gained popularity owing to several advantages over traditional bone marrow transplantation which is expected to drive demand for leukapheresis devices for stem cell collection over the forecast period.
Porter’s Analysis
Threat of new entrants: Low requirements for capital investment and production technology makes the threat of new entrants moderate in the Leukapheresis Devices Market Demand. However, established brands, economies of scale, and customer loyalty towards existing key players act as entry barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate. Buyers have a negotiating advantage due to the availability of various product options from different manufacturers. However, switching costs associated with new technology adoption limit their bargaining power.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of raw material sources. However, established regulations necessitate quality standards and suppliers’ dependence on orders makes their bargaining power limited.
Threat of new substitutes: No significant substitute products available, making the threat of substitutes low in this market.
Competitive rivalry: High due to existence of global and regional players competing on the basis of product differentiation, quality, reliability, service, price, and innovation.
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 disorders and growing adoption of leukapheresis procedure in stem cell research.
Regional analysis: North America dominates the global market owing to supportive government initiatives, advanced healthcare infrastructure, and presence of major market players in the region. Asia Pacific exhibits the fastest growth rate over the forecast period due to rising healthcare expenditure, growing medical tourism, and increasing healthcare awareness 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. The key players focus on new product launch and expansion strategies to gain competitive advantage in this market.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
