Blood Purification Equipment Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3677
Blood Purification Equipment Market size is expected to grow significantly from 2019 to 2025.
Technological advancements in blood purification equipment will positively influence industry growth during the analysis period. Key industry players constantly focus on introducing innovations within the blood purification equipment. For instance, companies such as NxStage and Jafron have developed several blood purification devices that have reduced the mortality rate in patients suffering from acute kidney failure. Recently commercialized blood purification devices are extremely sensitive and enable comprehensive monitoring. Additionally, these advanced blood purification devices are affordable and portable. Thus, aforementioned factors propel segment growth.
Increasing incidences of chronic kidney diseases (CKD) will escalate the industry growth in near future. CKDs may lead to acute renal failure requiring continuous blood purification process. According to National Chronic Kidney Disease Fact Sheet, around 15% adults are estimated to suffer from CKD in the U.S. alone. Globally large number of people experience kidney failure due to CKD. This scenario proves beneficial for the industry growth as it surges demand for blood purification equipment. However, dearth of skilled professionals to operate blood purification equipment in undeveloped economies may hamper industry growth to some extent.
Hemodialysis 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. Thus, above mentioned factors coupled with growing awareness regarding benefits of blood purification in developing economies should spur the business growth.
Portable blood purification equipment segment will have considerable revenue share in 2018 and is expected to foresee similar trends in upcoming years. Portable equipment are mostly preferred by professionals during continuous blood purification process. Portability of equipment allows efficient treatment in emergency cases. Also, portable devices are sort of compact and occupy minimum space that further escalates its adoption during blood purification process.
Clinics segment will witness immense growth during the analysis timeframe. Clinics are well-equipped with advanced medical devices and equipment. Blood purification services delivered by clinics assure faster patient recovery as these clinics are accredited to international standards. Therefore, people suffering from renal failures usually prefer blood purification from clinics that should propel the business growth.
North America blood purification equipment market is estimated to grow substantially in upcoming years. Favorable demographic trends such as rising geriatric population positively impacts the demand for blood purification equipment. Majority of the elderly people suffer from chronic renal diseases that proves beneficial for industry growth. Furthermore, positive regulatory scenario for blood purification equipment triggers the regional market growth.
Some of the major players operating in the blood purification equipment industry include Accel Diagnostics, Aethlon Medical, Cerus Company, Circle Biologics , CytoSorbents, Jafron, Medtronic, NxStage Medical, Spectral Medical, Stellarray and Toray Medica. Key industry players implement several initiatives such as new product launch to acquire larger market share. For instance, Jafron has introduced blood purification device that is integrated with advanced technology. Newly introduced blood purification system provides precise operational control. Thus, introduction of advanced blood purification devices will foster company’s growth.
Blood Purification Equipment Market By Application, 2014-2025 (USD Million)
- Continuous blood purification
Blood Purification Equipment Market By Type, 2014-2025 (USD Million)
Blood Purification Equipment Market By End-users, 2014-2025 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Accel Diagnostics LLC
- Aethlon Medical Inc
- Cerus Corp Company
- Circle Biologics, LLC
- CytoSorbents Corp
- NxStage Medical Inc
- Spectral Medical Inc
- Stellarray, Inc
- Toray Medical Co Ltd
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