September 30, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Blood Purification Equipment Market Growth 2019-2024’, the worldwide blood purification equipment market is anticipated to surpass US $1320 million by the year 2024.
Blood purification is a treatment in which patient’s blood is passed through a device which solutes like toxins, waste products, and water are removed. It is widely accepted treatment for septic shock. Rising instances of blood-related disorders and advancements in medical technology are the major drivers of blood purification equipment (BPE) market.
According to the report, blood purification equipment market was worth US $1110 million in 2019 and is predicted to register a growth rate of 3% by the year 2024. The report also presents a comprehensive insight about the market share, growth opportunities, challenges, drivers and trends impacting the industry growth.
The global blood purification equipment market is studied on the basis of application spectrum, product type and geographical landscape. Speaking of the application spectrum, the market is fragmented as dialysis center, hospitals, and others. While based on the product type, the market is segmented as hemodialysis (HD), continuous blood purification (CBP), and others.
Considering the geographical landscape, the BPE market is divided into four major regions; America comprises of Brazil, the U.S., Mexico, and Canada; Egypt, Turkey, GCC Countries, South Africa, and Israel come under Middle East & Africa; Europe consists of Germany, UK, Italy, France, Spain, and Russia; and China, India, Australia, Japan, Southeast Asia, and Korea fall under Asia Pacific.
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Furthermore, North America dominated BPE market with 43.6% consumption share in 2017, while Europe followed with a contribution of 20.97% share towards global consumption in the same year.
The prominent companies operating in blood purification equipment market include SWS Hemodialysis Care, Fresenius, JMS, B. Braun, Nikkiso, Medtronic (Bellco), Baxter, Nxstage, Asahi Kasei, Toray, WEGO, and Nipro. Market competition is fierce as the big players like Nikkiso, B. Braun, Baxter, and Fresenius dominate the industry and hold main patents & technologies, resulting in forming a monopoly position in the market.