The market of blood purification equipment is expected to be fueled as blood purification plays a crucial part in various kidney & blood-related diseases. Developments in infiltration & dialysis methods along with adsorption methods have boosted the adoption of these machines in various critical treatments. Blood purification machines find considerable application in renal or organ failures, plasmapheresis & immune-metabolic disorders. Increasing knowledge and understanding of pathophysiology and hematology due to additional research and development coupled with noteworthy progress in bioseparation techniques are some of the other factors contributing to the overall growth of the global blood purification equipment market.
Furthermore, recent advancements in the pathophysiology of a range of diseases have resulted in the growing adoption of blood purification therapies due to which, the demand for blood purification equipment has witnessed steady growth, thus aiding in the blood purification equipment market.
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The COVID-19 pandemic has adversely impacted the market of Blood Purification Equipment due to disruptions in the supply chain and a temporary halt in the manufacturing sector due to lockdown. The existing scenario evidently states that COVID-19 will continue to limit several aspects of the healthcare sector in foreseeable future, up until an effective treatment can be made accessible to the population on a larger scale. COVID-19 is foreseen to have a stronger influence on the blood purification equipment market growth. As the restrictions are easing slowly across the world, the market is anticipated to gain traction in near future, due to an upsurge in research activities mainly focused on using blood purification as a method to limit the transmission of COVID-19 infection. Numerous companies have approached the U.S. FDA for filing emergency use authorization (EUA) in order to use their blood purification equipment for treating patients with COVID-19. Therefore, the pandemic is expected to have a positive impact on the overall market growth. Baxter International received emergency use authorization (EUA) from the U.S. FDA for its Oxiris filter set. This set is used for the treatment of the patients suffering from COVID-19 and have been admitted to the intensive care unit (ICU) with confirmed or imminent respiratory failure in need of blood purification therapy for reducing pro-inflammatory cytokine levels, including use in continuous renal replacement therapy (CRRT).
According to UnivDatos Market Insights (UMI)’ research report “Global Blood Purification Equipments Market Analysis, 2020”, the Global Blood Purification Equipment market is projected to grow at a CAGR of X% during 2021-27F. Adoptipn of New Technologies and Development of Novel Devices is one of the prominent reason which is driving the market of the Blood Purification Equipments. For Instance: In 2020, Fresenius Medical Care, a prominent player in the market alone has 4,000 dialysis clinics operating globally as of 2020.
Based on the Type, the Dialysis segment acquired the major market share and grabbed US$ X Mn revenue from the Blood Purification Equipment market in 2020. Dialysis segment will experience substantial growth over the forthcoming years. Substantial segmental growth can be attributed to increasing cases of diabetes that affects the kidney functioning. Currently available blood purification devices are highly efficient and help in recovering the kidney functions.
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Portable Blood Purification Equipment to Witness Robust growth
Based on the product type, portable Blood Purification Equipment grabbed X% revenue share in 2020. The market size of this segment touched US$ X Million in 2020. The market share of the segment is expected to maintain its dominance in the forthcoming years Portable equipment is highly used by healthcare experts during the constant blood purification process. The portability of equipment enables effective treatment during emergency cases. Moreover, portable equipment is very compact & takes least space that further augments its adoption.
North America to Grab Lion’s Share, Bit Europe to witness Explicit Growth
Based on the Region, North America dominated the Global Blood Purification Equipment market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the rising in Chronic kidney disease(CKD). Asia-Pacific and North America are the most lucrative regions for market players, owing to increase in awareness about blood purification equipment and devices among healthcare professionals & patients, developments in healthcare infrastructure, and higher prevalence of ESRD and CKDs. However, Europe is expected to skyrocket with a CAGR of X% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Blood Purification Equipment Market Analysis, 2020”.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Blood Purification Equipment market are 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, among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.
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Some of the instances are:
- In Mar-2021, B. Braun Avitum signed a co-marketing agreement with CytoSorbents Corporation, a critical care immunotherapy leader. The agreement was aimed to promote the use of CytoSorb with B. Braun’s latest OMNI continuous blood purification platform and OMNIset Plus bloodline set (set version 3.0 or higher).
- In Apr-2020, In April 2020, Baxter International Inc. received an emergency use authorization of the filter set developed by the company to treat patients with COVID-19.
- In 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.
- In 2020, NxStage and Jafron have developed several blood purification devices that have reduced the mortality rate in patients suffering from acute kidney failure.
“Global Blood Purification Equipment Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Blood Purification Equipment providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Type (Dialysis,CRR, Hemoperfusion)
- By Product Type (Portable, Stationery)
- By Application (Sepsis, Covid 19, Infectious disease, Acute Kidney Injury)
- By End User (Hospitals & Clinics, Dialysis centre, Other)
- By Region (North America, Europe, Asia-Pacific, Rest of the World)
- By Company (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, etc.)
Key questions answered in the study:
- What are the current and future trends of the Global Blood purification equipment industry?
- How the industry has been evolving in terms of end-user demand and application areas?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Blood purification equipment industry?
- What are the customer orientation, purchase behavior, and expectations from the Blood Purification Equipment firms across various regions?
Table of content –
1 Market Introduction
2 Research Methodology Or Assumption
3 Market Synopsis
4 Executive Summary
5 COVID-19 Impact
6 Global Blood Purification Equipment Market Revenue
7 Market Insights By Type
8 Market Insights By Product Type
9 Market Insights By Application
10 Market Insights By End User
11 Market Insights By Region
12 Blood Purification Equipment Market Dynamics
13 Legal & Regulatory Framework
14 Demand And Supply Side Analysis
15 Value Chain Analysis
16 Blood Purification Equipment Market Opportunities
17 Blood Purification Equipment Market Trends & Insights
18 Competitive Scenario
19 Company Profiled
20 Disclaimer
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