Asia Pacific Apheresis Market Size Expands at Significant CAGR of 10.32% to Reach USD 3.54 Billion by 2029

Published | 02 November 2023

Asia-Pacific apheresis market is flourishing due to the increasing prevalence of chronic diseases, rising demand for blood components, advancements in healthcare infrastructure, growing awareness about apheresis therapies, and growing geriatric population.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia-Pacific apheresis market size at USD 1.98 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia Pacific apheresis market size to grow at a significant CAGR of 10.32% reaching a value of USD 3.57 billion by 2029. The Asia-Pacific apheresis market is driven by several factors. The rising prevalence of chronic diseases, such as cancer and autoimmune disorders, increases the demand for therapeutic apheresis procedures. Also, advancements in healthcare infrastructure and technology in the region improved access to apheresis services. The rapidly aging population led to an increased need for apheresis in managing age-related conditions. Further, the expanding awareness about the benefits of apheresis in treating various medical conditions and the increasing availability of skilled healthcare professionals contribute to market growth. On top of that, governments’ supportive initiatives and investments in healthcare could also fuel the market expansion.

Apheresis – Overview

Apheresis is a medical procedure that involves removing blood from a patient, separating its components (such as red blood cells, plasma, platelets, or specific disease-causing substances), and returning the desired components to the patient's circulation. This therapeutic technique is used for various purposes, including treating conditions like autoimmune diseases, leukemia, and certain neurological disorders by removing harmful substances from the blood or collecting specific blood components for transfusion. Apheresis is essential in managing and mitigating specific medical conditions, helping to improve patient's overall health and well-being through targeted blood component manipulation.

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Impact of COVID-19 on Asia-Pacific Apheresis Market

Asia-Pacific apheresis market experienced significant impacts due to COVID-19. The pandemic led to an increased demand for apheresis procedures to treat critically ill COVID-19 patients, particularly for plasma exchange to manage severe cases. However, disruptions in the healthcare system, lockdowns, and restrictions on non-essential medical procedures initially hindered market growth. Supply chain disruptions also affected the availability of apheresis equipment and consumables. Despite these challenges, the market eventually rebounded as healthcare systems adapted to the new normal, emphasizing the importance of apheresis in treating COVID-19 complications, thereby driving growth in the Asia-Pacific apheresis market.

Asia-Pacific Apheresis Market - By Product

By product, Asia-Pacific apheresis market is split into Devices and Disposables segments. The devices segment represents the larger portion of the market, encompassing various medical instruments and machines used for apheresis procedures, such as centrifugation devices and plasmapheresis machines. These essential devices are instrumental in the separation and collection of blood components for therapeutic purposes. The devices segment's prominence underscores the critical role technology plays in advancing apheresis techniques and ensuring the efficient extraction of vital blood components, making it a significant driver of growth within the Asia-Pacific apheresis market.

Competitive Landscape

Asia-Pacific apheresis market is fiercely competitive. Major companies in the market include Asahi Kasei Corporation, B. Braun SE, Fresenius SE & Co. KGaA, Haemonetics Corporation, Terumo Corporation, Kaneka Corporation, Sumitomo Bakelite Company Limited, and Medica SPA. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Asia-Pacific apheresis market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Apheresis Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in Asia-Pacific Apheresis Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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