Blood Purification Equipment Market to Reach $23.93 Bn, Globally, by 2027 at 5.6% CAGR: Allied Market Research
Rise in prevalence of metabolic & immune disorders and surge in incidences of diabetes & hypertension drive the growth of the global blood purification equipment market.
PORTLAND, Ore., March 25, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Blood Purification Equipment Market by Product Type(Portable and Stationary), Indication (Sepsis, Renal Diseases, and Others) and End User (Hospitals and Clinics, Dialysis Centers and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global blood purification equipment industry generated $14.62 billion in 2019, and is expected to garner $23.93 billion by 2027, witnessing a CAGR of 5.6% from 2020 to 2027.
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Drivers, restraints, and opportunities
Rise in prevalence of metabolic & immune disorders and surge in incidences of diabetes & hypertension drive the growth of the global blood purification equipment market. However, health risks and high costs regarding blood purification equipment hinder the market growth. On the other hand, changes in preference of patients for home hemodialysis (HDD) and advancements in blood purification techniques present new opportunities in the coming years.
Covid-19 Scenario
- Manufacturing activity of the blood purification equipment has been hindered due to nationwide lockdowns imposed by many countries. The lockdown created challenges in raw material procurement, availability of skilled workers, and supply of components and consumables.
- During the post-lockdown, R&D activities to find innovative uses of blood purification in limiting transmission of coronavirus gained traction. Many companies have been seeking emergency use authorization (EUA) from the U.S. Food & Drug Administration (FDA) to utilize this equipment during the treatment of Covid-infected patients.
- Many manufacturers have ramped up the production of blood purification machines and systems to cater to unprecedented demands that may occur during the pandemic.
The portable segment to maintain its leadership status throughout the forecast period
Based on product type, the portable segment accounted for more than four-fifths of the global blood purification equipment market in 2019, and is estimated to maintain its leadership status throughout the forecast period. Moreover, this segment is expected to manifest the largest CAGR of 5.7% from 2020 to 2027. This is due to advantages such as less space utilization and ease of movement in critical care units. The research also analyzes the stationary segment.
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The dialysis centers segment to maintain its lead position by 2027
Based on end user, the dialysis centers segment contributed to the largest market share in 2019, accounting for more than half of the global blood purification equipment market in 2019, and is projected to maintain its lead position by 2027. Moreover, this segment is estimated to portray the highest CAGR of 5.7% from 2020 to 2027. This is attributed to preference of patients to receive blood purification through dialysis treatments and services offered in dialysis centers. The report also discusses the segments including hospitals & clinics and others.
Asia-Pacific, followed by North America, to continue its dominant position by 2027
Based on region, Asia-Pacific, followed by North America, accounted for the highest market share in terms of revenue in 2019, holding more than two-fifths of the global blood purification equipment market, and is expected to continue its dominant position by 2027. Moreover, this segment is estimated to witness the fastest CAGR of 6.1% during the forecast period. This is due to increase in awareness regarding advanced blood purification equipment among healthcare professionals & patients, development of healthcare infrastructure, and high prevalence of metabolic & immune-related disorders in the region.
Leading 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
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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