Hematology

Apheresis Equipment Industry to gather an appreciable share via neurology applications, U.S. to be a major revenue pocket

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Beneficial medical compensation plans for apheresis procedures will be one of the key factors accelerating apheresis equipment market growth. Industry experts are heavily involved in strategic mergers & acquisitions and novel product launches to sustain the competition. Just recently, Terumo, a world leader specializing in cellular and apheresis technology, announced the launch of an innovative apheresis device to treat Myasthenia Gravis (MG) disease and Guillain-Barré syndrome. This device, named Spectra Optia Apheresis System is the first and only device of its kind in Europe that is enabled to treat the aforementioned disorders by means of therapeutic plasma exchange.

The U.S. government makes heavy investments in apheresis research through Medicare, employee insurance, and Medicaid programs. High expenditure on research activities coupled with a steep rise in the number of platelet donors will boost apheresis equipment industry trends. With the introduction of technological advancements, the demand for innovative apheresis devices is expected to surge as well. As per Global Market Insights, Inc., “Apheresis Equipment Industry, which was valued at USD 1.7 billion in 2015, is forecast to hit USD 4.5 billion by 2024.

U.S. Apheresis Equipment Market Size, by procedure, 2012- 2024 (USD Million)

U.S. Apheresis Equipment Market Size, by procedure, 2012- 2024 (USD Million)

High incidences of blood-related disorders such as leukemia and sickle cell anemia coupled with the bulging need for innovative blood component separation techniques will chalk out a profitable roadmap for apheresis equipment industry. An increase in the rate of surgical procedures performed pertaining to the rise in the number of accidents is anticipated to make notable contributions towards the apheresis market revenue.

Apheresis equipment is extensively used in the treatment of neurology, renal diseases, and hematology. Neurology, which accounted for half of apheresis equipment market revenue in 2015, will grow at an annual rate of 12.3% over 2016-2024. Increased occurrence of neurological disorders such as autoimmune disease and multiple sclerosis will drive apheresis equipment industry in neurology applications.

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Based on the product trends, apheresis equipment market is classified into disposable apheresis kits and apheresis machines. Disposable apheresis kits dominated the product landscape with a contribution of more than 78% toward apheresis equipment industry share in 2015. Growing popularity along with significantly lower costs will drive the product demand, leading to disposable apheresis equipment market earning a revenue of USD 2,944 million by 2024. Apheresis machines are expected to register significant gains of 17.1% over the coming seven years, driven by escalating requirement for automated component separation equipment.

Europe apheresis equipment market was worth USD 365 million in 2015 and will collect a revenue of more than USD 1,084 million by 2024, owing to the implementation of supportive rules and regulations. Industry giants are also keen to expand their business space across this region, making it an attractive growth avenue. UK and Germany together accounted for more than 27% of the revenue share in 2015.

U.S. apheresis equipment industry contributed majorly toward the North America market size by exceeding a share of 87% in 2015 and will exhibit an annual growth rate of more than 9% over the period of 2016 to 2024. The growth can be attributed to the increasing requirement of automated and technically enhanced products across this region. In addition, the availability of subsidies and refund facilities will also augment the industry growth.

Asia Pacific apheresis equipment market share will generate more than USD 1,265 million by 2024, primarily driven by the surging demand for platelets and plasma pertaining to the increasing prevalence of blood disorders across the emerging countries such as China and India. Japan will also contribute noticeably toward the APAC regional growth as a result of rising adoption of advanced apheresis products along with growing occurrence of cardiovascular diseases.

Strategic partnerships, M&As, and global expansion with major focus on the emerging economies are some of the major business growth strategies adopted by the industry giants. Notable participants in apheresis equipment market are Fresenius Kabi, B.Braun Melsungen, Terumo Corporation, Haemonetics, Kawasumi Laboratories, Therakos, Fenwal Inc, and Hemacare Corporation.

Author Name :Sunil Hebbalkar

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Gene Editing Market Outlook: Biotech & Pharma to be the leading end-user over 2016-2024

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Gene editing market is slated to register a massive double-digit growth rate over the coming seven years. The rising number of biotechnology and pharmaceutical firms will provide heavy revenue generating opportunities for the gene editing industry players over the coming years. Moreover, increasing prevalence of cancer and genetic disorders will further enhance the scope of the gene editing market. According to Global Market Insights, Inc. “Global gene editing market size worth USD 2.17 billion in 2015, is estimated to witness a CAGR of 14% over the period of 2016-2024.”

The rapid technological advancements in healthcare industry will also build a profitable roadmap for the gene-editing industry. Precision medicine market, which is estimated to surpass a revenue of USD 85 billion by 2023, will also promote the gene-industry market trends. The government support and increasing investments in R&D to enhance the technological outlook will also boost the gene editing industry share notably over the coming timeframe. The pharmaceutical industry is also actively collaborating with the gene editing firms to implement the technology use in clinical development. In addition to this, the industry will gain wide acceptance on account of its benefits in the wellbeing of humans, animals, and plant ecosystems.

U.S. Gene Editing Market Size, by Application, 2013- 2024 (USD Million)
U.S. Gene Editing Market Size, by Application, 2013- 2024 (USD Million)

Gene editing industry finds a varied set of applications across areas such as oncology, muscular disorders, infectious disease, and hematology. Hematology led the application landscape with a revenue of USD 807 million in 2015. Rising prevalence of infectious diseases such as HIV will promote the gene editing industry size in infectious disease applications, with a revenue estimation of USD 2.5 billion by 2024. Moreover, oncology applications will also exhibit a decent growth rate over the coming seven years, with an annual CAGR of 16% over 2016-2024. The increasing number and types of cancer will primarily contribute towards the application growth.

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CRISPR/Cas9 is the most prominent technology implemented in the gene editing applications and has been the most buzzed topic among the researchers worldwide. The ability of CRISPR/Cas9 technology to enable multiple edits at once has made it a breakthrough in the gene editing technology landscape. Moreover, its simplicity, specificity, and speed will further promote the technology demand over the coming years. CRISPR technology based gene editing market is estimated to exceed a revenue of USD 3 billion by 2024. Other notable technologies deployed in the gene editing industry include TALENS, Mega nucleases, and Zinc Finger Nucleases (ZFNs).

The major end-users participating in the gene editing market include CROs (Contract Research Organizations), Biotech & Pharma companies, and Research Institutes. Biotech and Pharma dominated the end user landscape accounting for 58% of the overall market share in 2015. The growth can be attributed to increasing applications of gene editing in therapeutics and drug discovery. Moreover, enhancements in the field of genetic engineering will further expand the scope of gene editing market in biotech and pharma sector. CROs will also emerge as a prominent revenue generating sector due to increased outsourcing by the pharmaceutical companies for complex drug discovery.

Considering the global trends, US gene editing industry led the global landscape, with a revenue of USD 518 million in 2015. The trend is likely to continue with the rapid expansion of biotech and pharma industry coupled with the rising prevalence of diseases such as Alzheimer, cancer, and other infectious ailments. UK gene editing market is anticipated to surpass USD 744 million by 2024, driven by the growing geriatric population base and frequent occurrence of chronic ailments across Europe. Asia Pacific will also exhibit substantial growth over the coming years. Improving healthcare infrastructure, technological developments in the medical space, rising geriatric population base, and favorable government norms will stimulate the APAC market growth.

Lack of awareness about gene-editing may prove to be a roadblock for the market growth. However, the government support towards spreading awareness will undoubtedly improve the future business scenario. The emerging economies will gain a major traction of the industry players to expand the regional base. Key market participants include Agilent Technologies, AstraZeneca, Allele Biotech, Cellectis, Bio Rad, Editas Medicine, CRISPR Therapeutics, Lonza, GE Healthcare Dharmacon, Recombinetics, Inc., Qiagen, Thermo Fisher Scientific, and Sigma-Aldrich.

Author NameShikha Sinha