Saudi Arabia Leukapheresis Market Size Booming to Cross USD 1.6 Billion by 2029
Saudi Arabia leukapheresis market is flourishing because of a growing demand for leukapheresis in research and clinical applications, increasing prevalence of chronic diseases, such as cancer, autoimmune disorders, and blood disorders, and favorable government initiatives and investments in healthcare infrastructure.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia leukapheresis market size at USD 968.79 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Saudi Arabia leukapheresis market size to grow at a significant CAGR of 7.51% reaching a value of USD 1,604.04 million by 2029. Major growth drivers for Saudi Arabia leukapheresis market include increasing number of blood cancer cases, a rise in awareness about leukapheresis procedures, and the availability of advanced medical infrastructure in the country. Leukapheresis is a medical procedure that involves the separation and removal of white blood cells from the blood of a patient. In Saudi Arabia, the leukapheresis market is gaining traction due to the growing prevalence of blood disorders, including leukemia and lymphoma. Leukapheresis is primarily used for the treatment of these disorders by removing excess white blood cells and reducing the number of cancerous cells in the blood. Moreover, the presence of major market players and government initiatives to improve healthcare facilities are expected to further boost the growth of the leukapheresis market in Saudi Arabia. The demand for leukapheresis procedures is also expected to increase due to the rising incidence of autoimmune diseases and the growing demand for personalized medicine. However, increasing concerns regarding the safety and efficacy of leukapheresis procedures are anticipated to hinder the growth of the market.
Saudi Arabia Leukapheresis Market – Overview
Leukapheresis is a laboratory procedure that involves separating white blood cells from a blood sample, and returning the remaining blood cells to the bloodstream. Its growth is likely to be fueled by the rising prevalence of leukemia, which is a type of cancer that affects the early forms of blood cells, typically the white blood cells or leucocytes responsible for fighting against infections caused by foreign particles. Leukapheresis is commonly used to treat chronic lymphocytic leukemia (CLL) and patients with extremely high white blood cell counts. The demand for leukapheresis is anticipated to witness substantial growth due to increasing research and development activities in the product portfolio.
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Impact of COVID-19 on Saudi Arabia Leukapheresis Market
COVID-19 pandemic had a detrimental impact on the global economy, leading to disruptions in business operations and supply chains. Lockdown measures imposed by various countries to control the spread of the virus have had a profound effect on industries, trade, and related services. The treatment of leukapheresis requires a substantial amount of blood transmission, which has led to people avoiding treatment due to fears of contracting COVID-19. Additionally, the pandemic has posed an existential threat to millions of businesses, especially those in the informal economy who lack social security, access to quality healthcare, and productive assets.
Saudi Arabia Leukapheresis Market – By End User
Based on end user, Saudi Arabia leukapheresis market is divided into Blood Component Providers & Blood Centers, Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, and Hospitals & Transfusion Centers. The Blood Component Providers & Blood Centers segment dominates the Saudi Arabian leukapheresis market. The increasing demand for blood components in Saudi Arabia, mainly due to the rise in blood-related disorders, has led to a growing demand for leukapheresis procedures that these providers offer. Likewise, these providers have access to advanced medical technology and equipment, which allows for more efficient and accurate leukapheresis procedures, enabling them to meet the growing demand for blood components and maintain their market dominance. Also, the Saudi Arabian government has been investing heavily in healthcare infrastructure, which includes supporting blood component providers and blood centers, thus facilitating their growth and dominance in the leukapheresis market.
Competitive Landscape
Major players operating in Saudi Arabia leukapheresis market include Asahi Kasei Corporation, Fresenius SE & Co. KGaA, Haemonetics Corporation, Terumo Corporation, STEMCELL Technologies Inc., HemaCare, Macopharma, AllCells, and BioIVT. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia Leukapheresis Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Leukapheresis 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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