Lateral Flow Assay Market Growing Demand to Impact Revenue Share during 2021-2031 | Fresenius, Asahi Kasei Medical, Haemonetics, STEMCELL Technologies, Terumo BCT

The global leukapheresis market was valued at USD 62 million in 2021 and it is anticipated to grow further till USD 136 million by 2031, at a CAGR of 8.2% during the forecast period.

New York, According to a new market research report published by Global Insight Services Lateral Flow Assay Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

The method of leukapheresis is used to remove white blood cells from a blood sample. It is done to lower the number of elevated white blood cells, to gain cells for different types of research, and to collect autologous blood cells for transplanting back into the patient. Leukapheresis is a form of apheresis that removes a component of blood and then reincorporates the remaining blood into circulation. White blood cells are isolated during chemotherapy in order to protect them from potential harm from the high dosage of chemotherapy medications. They are then returned to the patient's body.

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Market Trends and Drivers

Leukemia incidence has drastically increased across the globe. The American Cancer Society predicts that there will be 61,090 new cases of leukemia in the US in 2021. In addition, it is predicted that leukemia would be responsible for 23,660 fatalities in the US in 2021. Between 2008 and 2020, the incidence rate of leukemia in children increased by 1% year. It is logical to assume that the increased prevalence of hyper leukocytic leukemia will increase the need for therapeutic leukapheresis operations in the next years and support the expansion of the leukapheresis market.

Despite its therapeutic benefits, leukapheresis is still not widely used as a treatment, especially for hyper leukocytic leukemia. But industry participants are starting to pay more attention to how therapeutic leukapheresis is used to treat pediatric patients. The risks and side effects of conventional treatments, such as chemotherapy for children, can be primarily blamed for this. Children's stem cells can be obtained through leukapheresis and utilized to treat or remove extra WBCs in patients with juvenile lymphoma or other cancers. Given that so few hospitals now offer leukapheresis treatment for children in both established and emerging economies, leukapheresis is an area of focus in this market due to the potential and benefits it offers in this application.

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Market Restraints and Challenges

Apheresis equipment typically costs between 20,000 and 150,000 dollars. Smaller hospitals and blood banks therefore avoid using this method of blood collection. Furthermore, for efficient therapy and the collection/removal of WBCs via apheresis, trained and skilled physicians, personnel, and nurses are also needed. Leukapheresis is an expensive technology for short-term use due to all of these issues. Similar to this, leukapheresis at hospitals and cancer treatment facilities has a very high cost because it requires extra disposables, which can cost between USD 1,500 and 3,000 for each patient. As a result, relatively few small blood banks, research institutions, and hospitals have adopted leukapheresis and leukoplakia, which will limit the growth of the leukapheresis market throughout the course of the projected period.

Global Leukapheresis Market Segmental Overview

The report analyses the global leukapheresis market based on the type, application, end users, and region.

Global Leukapheresis Market by Type

Based on the type, it is segmented into leukapheresis devices, apheresis devices, leukoreduction filters, leukapheresis columns & cell separators. The leukapheresis device segment is anticipated to dominate the market during the forecast period. White blood cells (leukocytes) are separated from whole blood using leukapheresis equipment. Leukoreduced blood cell products, such as leukoreduced plasma and leukoreduced RBCs, are also created using these instruments. The rise in therapeutic leukapheresis procedures used to treat inflammatory bowel illnesses, immune-mediated inflammatory diseases, and leukemia is mostly responsible for the market expansion for leukapheresis equipment. Another important element driving market expansion is the blood collection facilities' growing adoption of leukapheresis equipment.

Major Players in the Global Leukapheresis Market

The key players studied in the report are Fresenius, Asahi Kasei Medical, Haemonetics, STEMCELL Technologies, Terumo BCT, Macopharma, HemaCare, Caltag Medsystem, StemExpress, Key Biologics LLC, ZenBio Inc, Digital Pharmacist Inc, BioIVT, Precision for Medicine Inc, and Lmb Technologie GmbH among others.

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Reasons to buy Lateral Flow Assay Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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