Global Blood Purification Equipment Market Is Expected To Foresee Significant Growth During The Forecast Period. North America To Witness The Highest Growth
Global Blood Purification Equipment Market is expected to reach the market valuation of US$ XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XXmillion in 2019. Blood purification is a technique that involves withdrawal of blood from patient’s body into a device or an equipment to remove impurities and pump it back intothe body. Blood purification devices majorly find their usage in organ or renal failures, immune-metabolic disorders and plasmapheresis.
The demand for the Blood Purification Equipment is witnessing an uptick on account of the rising number of Chronic disease globally. The Blood Purification Equipments market is expected to witness robust growth due to the increase in the prevalence of chronic kidney patients. FDA-Regulated blood purification medical equipment follows precisely documented processes and their performance growing popularity for greater convenience and better clinical outcomes. Transplantation and dialysis are the preferred treatment approaches for End-Stage Renal Diseases which led to the trigger of the global blood purification Equipment Market. Blood purification devices may be effective at treating certain patients with COVID-19 by reducing various pathogens, cytokines, and other inflammatory mediators. The small active proteins in the bloodstream that control a cell’s immune response are filtering the blood and returning the filtered blood to the patient.
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The demand for blood purification therapy has witnessed considerable growth over the last couple of decades and is increasingly being used to treat a range of disorders, which cannot be treated by conventional therapies, including surgery and drug administration. The progress made by bio separation techniques, including filtration, dialysis, and adsorption is one of the key factors expected to provide a considerable boost to the expansion of the blood purification equipment market during the forecast period. along with the increasing support from the FDA in terms of product approval and more, the global blood purification equipment market is expected to surpass the US$ 22.9 Bn mark by the end of 2030.
Furthermore, new launch of New Technologies and Development of Novel Devices, is contributing to the growing market of Blood Purification Equipments market.
Moreover, increasing Increasing Prevalence of Chronic Kidney Diseases.The most common type of renal diseases include chronic kidney diseases (CKD). CKD refers to a long term condition, commonly caused due to high blood pressure and doesn’t improve over time. The CKD occurs due to inability of the kidneys to perform their normal function. Over the time, human kidneys stop working completely and requires performing dialysis that helps to filter and purify the blood with the help of an external machine. These machines known as hemodialysis devices contributes a major share in the blood purification equipment market.
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Thus, the increasing number of patients suffering with renal disorders that require regular dialysis procedures are expected to increase the demand of the equipment thereby fostering the market growth. The mortality rate due to chronic kidney diseases has also witnessed a surge over years. The 2015 study of Global Burden of Diseases conducted by the World Health Organization (WHO) states that 1.2 million people died from kidney failure, which increased by 32% from 2005. Furthermore, the WHO also reported that approximately 2.3 million patients suffering with end-stage kidney disease died due to lack of access to dialysis. For instance, in August 2019, CytoSorbents Corporation announced receiving of approval for its CytoSorb from European Union through May 2024 and ISO 13485:2016 Full Quality Assurance System certification. The product is expected to be manufacturing through September 2022.
Manufacturing activity of the blood purification equipment has been hindered due to nationwide lockdowns imposed by many countries. The lockdown created challenges in raw material procurement, availability of skilled workers, and supply of components and consumables.
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During the post-lockdown, R&D activities to find innovative uses of blood purification in limiting transmission of coronavirus gained traction. Many companies have been seeking emergency use authorization (EUA) from the U.S. Food & Drug Administration (FDA) to utilize this equipment during the treatment of Covid-infected patients.For Instance: Feb-2020: Baxter International signed a distribution agreement with Spectral Medical Inc., a late stage theranostic company. The distribution agreement includes TORAYMYXIN PMX-20R (PMX), a hemoperfusion filter, and the Endotoxin Activity Assay (EAA), an on-market companion diagnostic tool that aids in the risk assessment of ICU patients for progression to severe sepsis.
Based on the Type, the market is mainly fragmented into Dialysis, CRRT, Hemoperfusion. The Dialysis segment dominated the market in 2020 and gathered XX % in 2020. Moreover, the segment is anticipated to maintain its dominance during the analyzed period. Increasing demand for cost-effectiveness and efficiency has led to an increased focus on the usage of portable blood purification equipment.
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Additionally, the report provides detailed initiatives that are being taken in the field of Blood Purification Equipment. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. North America dominated the market with US$ XX million in 2020 of prime importance, to the rising prevalence of chronic diseases, and an increasing number of minimally invasive surgeries across the world. The United States Blood Purification Equipment Market is projected to grow with a significant CAGR in the forecast period.
Global Blood purification equipment Market Segmentation
Market Insight, by Type
Market Insight, by Product Type
Market Insight, by End User
- Hospitals & Clinics
- Dialysis Centers
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Cytosorbents Corporation
- Baxter International, Inc.
- ExThera Medical Corporation
- Aethlon Medical, Inc.
- Fresenius SE & Co. KGaA
- Cerus Corporation
- Jafron Biomedical Co. Ltd.,
- Spectra Medical Inc.
- B. Braun Melsungen AG
- Medline Industries, Inc.