Blood Banks Segment to Dominate Asia Pacific Blood Filter Market during 2019–2028
According to The Insight Partners market research study on “Asia Pacific Blood Filter Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Material, Application, and End User,” is expected to reach US$ 1,20,946.24 thousand by 2028 from US$ 89,271.35 thousand in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. Rapid increase in burden of chronic diseases is the major factor driving the growth of the Asia Pacific blood filter market. However, product recalls may hinder the growth of Asia Pacific blood filter market. The report provides trends prevailing in the Asia Pacific blood filter market along with the drivers and restraints pertaining to the market growth.
Currently, there is no proven specific therapy against COVID-19, and multiple novel and repurposed drugs are being used on an experimental basis. The lack of effective therapeutic options has been a major hurdle in pandemic mitigation measures. Studies show that blood filters result in minimizing the effect of cytokine storm created by COVID-19, which causes major organ destruction and may eventually lead to death in serious conditions. Thus, various companies have been initiating their supply process for the availability of blood filters to meet the dire need for the same in APAC. There are a few contender medicines including an antimalarial drug hydroxychloroquine, an antiviral Remdesivir and Ivermectin, and a drug used against worms and other parasites, but the results are not hugely encouraging and at times conflicting. Thus, plasma therapy gained traction as a cure for COVID-19 patients in India in 2020. Further, medical equipment used to conduct apheresis procedure were installed at many hospitals and blood collection centers; for example, GMCH, Thrissur, installed this machine for the first time in Kerala to administer plasma to a 51-year-old man.
The Asia Pacific blood filter market is segmented into product, application, material, end user, and country. The Asia Pacific blood filter market, by product, is segmented into 40 Microns and 70 Microns, 100 Microns and 170 Microns, and others. The 100 microns to 170 microns segment held the largest share of the market in 2021. The Asia Pacific blood filter market, by material, is segmented into polycarbonate, polyester, ABS, and others. The polyester segment held the largest share of the market in 2021. The Asia Pacific blood filter market, by application, is segmented into blood processing and blood transfusion. The blood transfusion segment held the largest share of the market in 2021. On the basis of blood transfusion, the market is further segmented into whole blood, red cell, and plasma and platelet filtration. The plasma and platelet filtration segment accounts for largest market share in the 2021. Based on end user, the Asia Pacific blood filter market is segmented blood banks, hospitals, and others. The blood banks segment held the largest share of the market in 2021. Similarly, based on country, the market is bifurcated into Japan, China, India, Australia, South Korea, and rest of Asia Pacific. Japan contributed a substantial share in 2021.
Asahi Kasei Corporation; Fresenius Kabi AG; Haemonetics Corporation; Infomed SA; KANEKA CORPORATION; Kawasumi laboratories. Inc.; Macopharma; Nanjing Shuangwei Biotechnology Co., Ltd.; Sefar AG; and Shandong Zhongbaokang Medical Implements Co., Ltd are among the leading companies in the Asia Pacific Blood Filter Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Haemonetics Corporation, a global medical technology company based on delivering innovative haematology solutions to improve patient outcomes, entered into a definitive agreement to sell its manufacturing operations in Fajardo, Puerto Rico, to GVS, S.p.A, a leading provider of advanced filtration solutions for critical applications.
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