Global Blood Purification Equipment Market 2021-2031

Global Blood Purification Equipment Market 2021-2031

Bonafide Trust 02-02-2022 154 Pages
Region : Global Category : Lifescience Medical Devices

Global blood purification equipment market will reach $21.08 billion by 2031, growing by 5.5% annually over 2021-2031, driven by the increasing prevalence of blood-related diseases, rising geriatric population, technological innovations, growing healthcare expenditure, rising adoption of home-based healthcare, and the rising health consciousness amid COVID-19 pandemic. Blood purification equipment work like the dialysis equipment. This equipment use thin fibres to capture and remove viruses and filters the blood. The equipment requires the drawing of blood through an artery, which is sent through a tube into the equipment, then back into the body. The growth of the global blood purification equipment market is attributed to the increasing prevalence of chronic kidney diseases, technological advancements in haemodialysis and rising adoption of home-based healthcare. However, high cost of blood purification and complications associated with blood purification are the major factor hindering the market growth. At present, the blood purification therapy is primarily utilized for three major clinical applications such as plasmapheresis for toxicants, as a life support for organ failures, including haemodialysis for renal failures and redress of immune and metabolic disorders including immunoadsorption for autoimmune diseases. The increasing prevalence of metabolic and autoimmune diseases worldwide such as kidney failure is one of the major factors fuelling the adoption of blood purification equipment. Over the past couple of decades, several therapeutic advancements in technology has been made and new blood purification equipment have been developed– a trend that is expected to continue during the forecast period. Over the past two decades, the need for blood purification therapy has grown significantly. It is now utilised more frequently to treat a variety of illnesses that cannot be treated by traditional therapies including surgery and drug administration. One of the main elements anticipated to significantly increase the growth of the blood purification equipment market during the projected period is the advancement of bio separation techniques, including filtration, dialysis, and adsorption. Blood purification therapies are increasingly being used in many parts of the world because to their high degree of effectiveness in the quick and direct elimination of harmful agents. Numerous treatment technologies and state-of-the-art blood purifying tools have become available in the last several decades. Additional research and development, along with significant advancements in bio separation techniques, are some of the major drivers driving the overall growth of the global blood purifying equipment market. These include growing knowledge and understanding of pathophysiology and haematology. Additionally, new developments in the pathophysiology of a variety of diseases have led to an increase in the use of blood purifying therapies, which has helped to drive consistent expansion in the market for blood purification equipment. Various product improvements, such as the development of equipment with biofeedback loops and tailored dialysis prescription capabilities, also contribute to growth. These new versions help minimize intradialytic hypotension, improve dialysis monitoring, and keep electronic medical records (EMRs). Manufacturers are responding by producing portable and cost-effective blood purifying technology that can be utilized in at-home care settings. Other factors, such as increased health consciousness among the general public and advances in medical infrastructure, are expected to propel the market forward, particularly in developing regions. A variety of treatment innovations and cutting-edge blood purifying equipment have reached the market in recent decades. 

Key Developments
   • In June 2021, ExThera, a leading blood purification device manufacturer started the trial of a blood purification device for sepsis.
   • In April 2020, The United States Food and Drug Administration has granted an emergency use authorization for a blood purification system to treat patients aged 18 and up who have been diagnosed with Coronavirus Disease 2019 (COVID-19) and are admitted to the intensive care unit (ICU) with confirmed or imminent respiratory failure.

COVID-19 Impact

COVID-19 caused transport-trade restrictions and widespread lockdowns, having an effect on every industry vertical around the world. The pandemic also has an impact on the market for blood purification technology. The demand and availability of blood purification components and consumables necessary for the system to work properly provide new problems for the blood purification equipment business. The market growth rate was further hampered by uneven 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 global market for blood purifying equipment. As the restrictions are easing globally, the market is expected to gain traction in coming years, owing to surge in R&D practices focused on potential uses of blood purification as a method to limit the transmission of COVID-19 infection. Several companies have approached the U.S. Food and Drug Administration (U.S. FDA) for filing emergency use authorization (EUA) in order to use their blood purification equipment for treating patients with COVID-19. Recently, in April 2020, Baxter International Inc. received a EUA for its Oxiris filter that is used in CRRT equipment, PrisMax and Prisma flex systems. The company is maximizing its production of blood purification machines and systems in order to address unprecedented surges in the demand for these blood purification devices in response to combat COVID-19. Therefore, the pandemic is projected to have a positive impact on the blood purification equipment market growth.

Highlighted with 81 tables and 76 figures, this 154-page report “Global Blood Purification Equipment Market 2021-2031 by Product (Hemodialysis, Blood Filtration, CRRT, Hemoperfusion, Plasma Exchange Device), Portability (Portable, Stationary), Indication (Renal Diseases, Sepsis, Others), End User (Hospitals and Clinics, Dialysis Centers, Others), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global blood purification equipment market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. 

In-depth qualitative analyses include identification and investigation of the following aspects:
   • Market Structure 
   • Growth Drivers 
   • Restraints and Challenges
   • Emerging Product Trends & Market Opportunities
   • Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global blood purification equipment market in every aspect of the classification from perspectives of Product, Portability, Indication, End User, and Region. 

By Product Type 
     • Hemodialysis Device
     • Blood Filtration Device
     • CRRT Device
     • Hemoperfusion Device
     • Plasma Exchange Device
     • Other Products

By Portability
     • Portable Equipment
     • Stationary Equipment

By Indication
     • Renal Diseases
     • Sepsis
     • Other Indications

By End User
     • Hospitals and Clinics
     • Dialysis Centers
     • Other End Users

By Geography
     • North America (U.S., Canada, and Mexico)
     • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
     • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
     • South America (Brazil, Chile, Argentina, Rest of South America)
     • MEA (UAE, Saudi Arabia, South Africa, Other Nations)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of key national markets by Portability, Indication, and End User over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:  Aethlon Medical, Inc., Asahi Kasei Corporation, B. Braun Melsungen AG, Baxter International Inc., Cerus Corporation, CytoSorbents Corporation, Fresenius SE and Co. KGaA, Healthwell Medical Tech. Co., Ltd., Infomed SA, Jafron Biomedical Co., Ltd., Kaneka Corporation, Nikkiso Co., Ltd., Spectral Medical Inc., SWS Medical Group

(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

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