Research Methodologies Followed for This Study:
Secondary Research:
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the apheresis market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research:
In the primary research process, industry experts from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Industry experts from the supply side include CEOs, vice presidents, marketing and sales directors, product managers, business development managers, technology and innovation directors of companies providing apheresis, key opinion leaders, and suppliers and distributors. The industry experts from the demand side include hospitals, blood collection centers, transfusion clinics, and healthcare payers.
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Market Size Estimation:
The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (revenue share analysis of leading players) and top-down approach (assessment of utilization/adoption/penetration trends, by product, technology, application, procedure, end user, and region).
Expected Revenue Growth:
The global apheresis market is projected to reach USD 2.7 billion by 2025 from USD 1.7 billion in 2019, at a CAGR of 8.1% during the forecast period.
Data Triangulation:
After arriving at the market size, the total apheresis market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments & subsegments, data triangulation and market breakdown procedures were employed, wherever applicable.
Major Growth Boosters:
The market for apheresis is primarily driven by the rising prevalence of chronic diseases and the growing number of trauma and injury cases, the increasing demand for source plasma from biopharmaceutical companies, the rising demand for blood components and growing concerns regarding blood safety, the increase in the number of complex surgical procedures, and the favorable reimbursement for apheresis procedures.
Factors Which May Hinder Global Growth:
However, the high cost of apheresis devices & therapeutic apheresis procedures and installation of apheresis devices through the rental model, fewer blood donations using apheresis due to lack of awareness, and the stringent donor recruitment criteria are factors expected to limit market growth to a certain extent in the coming years.
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Geographical Growth Scenario:
North America accounted for the largest market share in 2018
North America accounted for the largest share of the apheresis market in 2018, followed by Europe. The large share of this region can be attributed to easier accessibility to advanced blood collection technologies, the presence of established healthcare infrastructure, and the increasing presence of leading apheresis companies in the country.
Key Players of the Industry:
Terumo BCT, Inc. (US), Fresenius SE & Co. KGaA (Germany), and Haemonetics Corporation (US) are the leading players in the apheresis market.
Different Growth Strategies Adopted by Key Players:
The key players of this market focus on increasing their market presence with the adoption of both organic and inorganic growth strategies. These include product launches, agreements, partnerships, collaborations, and acquisitions.
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