The global blood purification equipment market was evaluated at $14,627.56 million in 2019, and is estimated to garner $23,939.14 million by 2027, registering a CAGR of 5.6% during the forecast period. This growth rate is majorly attributed to increase in incidences of diabetes & hypertension, along with overall rise in geriatric population that are more vulnerable to kidney related disorders across the globe and upsurge in prevalence of metabolic & immune disorders such as end-stage renal diseases (ESRDs) and chronic kidney diseases (CKDs). For instance, as per a research study undertaken by the University of California, San Francisco, in 2020, about 2 million people are estimated to be affected by ESRDs across the globe.
The number of patients diagnosed is supposedly anticipated to increase at a substantial rate of 5 to 7% every year. Research findings also concluded that countries with higher prevalence of ESRD were the U.S., Belgium, Japan, Mexico, and Taiwan. This is attributed to the increase in number of patients suffering from diabetes and hypertension. Thus, this surge in incidences of diseases associated with kidneys is expected to bolster the demand for dialysis worldwide, ultimately impacting the blood purification equipment market positively during the forecast period.
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Blood purification allows removal of toxic or pathogenic substances from blood through dialysis, filtration or adsorption or a combination of these techniques. Blood purification involves removal of blood from patients body with the help of tubing, extracorporeal cleaning using a device and returning it to the patients blood circulation system. In addition, increase in advancements associated with blood purification techniques, hematology and pathophysiology of diseases is expected to further supplement the market growth. On the contrary, higher costs of the equipment and risks accompanying blood purification procedures may hinder the growth of the blood purification equipment market in near future.
The global blood purification equipment market is classified based on product type, indication, end-user and region. Based on product type, the market is bifurcated into portable and stationary. Portable segment is anticipated to be the largest growing segment over the analysis period. This is majorly attributed to the advantages offered by portable blood purification equipment such as lesser space utilization and ease of movement especially in critical care units. Thus, these are most widely preferred by healthcare professionals for treating patients, thereby, supplementing the market growth. Based on indication, the blood purification equipment market can be divided into sepsis, renal diseases, and others. In 2019, the renal disease segment generated the highest revenue and is predicted to maintain its dominance throughout the forecast period owing to rising incidences of renal disorders worldwide.
Based on end user, the global blood purification equipment market is segmented into hospitals and clinics, dialysis centers and others. The dialysis centers segment held a dominant position in the end user segment in 2019. This growth was due to patient preference to receive dialysis treatments through services provided by dialysis centers. One of the advantages of in-center dialysis is that a patient does not require any medical training as healthcare professionals carryout majority of the tasks, making it convenient for patients by avoiding any errors during the treatment.
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However, treatments at dialysis centers require a longer commitment from patients as most of the time is spent at the centers during dialysis sessions. Region wise, the market has been analyzed across four regions namely, North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific represents profitable opportunities for players operating in the blood purification equipment market, attributable to its large population base along with several chronic & lifestyle diseases and rapidly rising prevalence of ESRDs. North America is expected to maintain its second dominant position in the market during the forecast period due to availability of technologically advanced equipment in critical care units, rise of awareness about blood purification processes among the patient population, and well-established healthcare infrastructure in the region. On the other hand,
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
? This report provides a detailed quantitative analysis of the current market trends and future estimations from 2019 to 2027, which assists to identify the prevailing market opportunities.
? An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
? A comprehensive analysis of the factors that drive and restrain the growth of the global blood purification equipment market is provided.
? An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
KEY MARKET PLAYERS
– Asahi Kasei Corporation
– B. Braun Melsungen AG
– Baxter International Inc.
– Fresenius SE and Co. KGaA
– Healthwell Medical Tech. Co., Ltd.
– Infomed SA
– Jafron Biomedical Co., Ltd.
– Kaneka Corporation
– Nikkiso Co, ltd.
– SWS Medical Group
KEY MARKET SEGMENTS
– By Product Type
o Portable
o Stationary
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– By Indication
o Sepsis
o Renal Diseases
o Others
– By End User
o Hospitals and Clinics
o Dialysis Centers
o Others
– By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? UK
? Rest of Europe
o Asia-Pacific
? Japan
? China
? India
? Australia
? Rest of Asia-Pacific
o LAMEA
? Brazil
? Saudi Arabia
? South Africa
? Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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