Blood Purification Equipment Market Overview:
The market for blood purification apparatus was valued at $14,627.56 million in 2019, and it is anticipated to reach $23,939.14 million by 2027, growing at a CAGR of 5.6% from 2023 to 2032. In the process of blood purification, impurities are taken from the blood before it is pumped back into the patient’s body. Due to the fact that blood purification is essential in the management of a number of kidney and blood-related disorders, the market is anticipated to expand significantly over the course of the projection period. The use of this equipment in a variety of essential treatments has been positively affected by advancements in filtration, dialysis, and adsorption approaches. Plasmapheresis, immune-metabolic diseases, and organ or renal failures are the main uses for blood purification equipment.
Some of the factors predicted to propel the growth of the blood purification equipment market include an overall rise in the geriatric population worldwide—who are more susceptible to kidney-related diseases—as well as an increase in the incidences of immune disorders like kidney failure, diabetes, and hypertension. In the years to come, it is also expected that increased advancements in haematology, pathophysiology, and blood purification techniques will support market expansion. However, rising equipment prices and the dangers of blood purification techniques may limit market growth in the near future.
Growth Factors:
- This industry has expanded as a result of numerous developments in the absorption, filtration, and dialysis processes. Due to the use of this equipment in numerous crucial therapies, the market for blood purification equipment is expanding. Plasmapheresis, immune metabolic diseases, and renal or organ failures are the main uses for blood purification equipment. One of the main factors driving the growth of the blood purification equipment market is the rise in prevalent metabolic and immune disorders like kidney failure, increase in diabetes and hypertension, under increasing geriatric population across nations who are extremely susceptible to the diseases related to kidneys. Various technological advancements which are associated with the blood purification technique remove further help in the growth of the market during the coming years.
- Blood purification therapies are very effective at quickly and directly removing pathogenic agents, and many countries around the globe will start to use them. The development of processes like bioseparation, filtration, adsorption, and dialysis are the factors that are anticipated to give the market for blood purification devices a significant boost in the future. Currently, plasmapheresis, life support for organ failures, and metabolic disorders are the three main indications for blood purification treatment.
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Market Segmentations:
Global Blood Purification Equipment Market: Major Players
CytoSorbents Corp
NxStage Medical Inc
Aethlon Medical Inc
Circle Biologics, LLC
Accel Diagnostics LLC
Cerus Corp Company
Spectral Medical Inc
Global Blood Purification Equipment Market: Types
HD
HP
CBP
Global Blood Purification Equipment Market: Applications
Chronic Renal Failure
Acute Drug Poisoning
Global Blood Purification Equipment Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Blood Purification Equipment market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Product Type Segment Review:
The market is divided into portable and stationary segments based on product category. Over the course of the analysis period, the portable segment is expected to expand the fastest. This is primarily attributable to the benefits provided by portable blood purification technology, particularly in critical care units, such as reduced area utilisation and ease of movement. As a result, these are the most frequently chosen by healthcare professionals to treat patients, supporting market development.
Indication Segment Review:
The market for blood purification apparatus is divided into hospitals and clinics, dialysis facilities, and other end users based on end use. In 2019, the end user group was dominated by dialysis facilities. The preference of patients to obtain dialysis treatments through services offered by dialysis centres is the cause of this growth. One benefit of in-center dialysis is that patients do not need medical training because healthcare experts handle the majority of the tasks, which is convenient for patients and helps to prevent mistakes during treatment. However, since most of the time is spent at the centres during dialysis sessions, treatments at dialysis centres demand a lengthier commitment from patients. Thus, the number of dialysis patients across the world opting for blood purification procedures at dialysis centers is predicted to increase over the next few years, ultimately driving the growth of blood purification equipment market.
COVID-19 Impact:
COVID-19 caused transport-trade restrictions and widespread lockdowns, having an effect on every sector vertical around the world. The epidemic also has an impact on the market for blood purification technology. The blood purification equipment industry was presently dealing with newer difficulties in balancing the supply and demand of the consumables and components needed for the equipment to operate properly. The market development rate was further impacted by inconsistent and interrupted supply chain activities as well as the lack of human resources. On the other hand, COVID-19 is anticipated to have a significant effect on the expansion of the worldwide market for blood purification equipment. Due to an increase in research and development practises focusing on potential applications of blood purification as a method to reduce the transmission of COVID-19 infection, the market is anticipated to gain momentum in the coming years as restrictions are easing worldwide. In order to use for treating COVID-19 patients, several firms have applied for emergency use authorizations (EUAs) with the U.S. Food and Drug Administration (U.S. FDA). Baxter International Inc. recently obtained an EUA for its Oxiris filter, which is used in CRRT equipment as well as the PrisMax and Prismaflex systems. In order to meet unprecedented spikes in demand for these blood purification devices in response to combat COVID-19, the business is increasing the production of blood purification machines and systems. Therefore, the pandemic is projected to have a positive impact on the blood purification equipment market growth.
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