December 05, 2019
According to the research report titled ‘Blood Purification Equipment Market to 2027 - Global Analysis and Forecasts by Product (Hemodialysis Device, Blood Filtration Device, Continuous Renal Replacement Therapy (CRRT) Device, Hemoperfusion Device, Plasma Exchange Device); End User (Medical Centre, Hospitals, Others), and Geography’ available at MarketStudyReport.com, the global blood purification equipment market was reckoned to be worth US $3,881.3 million in 2018, and is estimated to grow with a CAGR of 4% during the period of 2019-2027, thereby accounting for US $5,502.8 million by 2027.
For the record, chronic kidney disease (CKD) is a common form of renal disease. CKD is a long-term disorder that is usually caused by high blood pressure and occurs because the kidneys fail to perform their normal functions. The diseases treated through dialysis which filters and purify the blood using external devices.
Notably, World Health Organization (WHO) reported that around 1.2 million people died as a result of kidney failure, which rose by 32% from 2005. The WHO further stated that 2.3 million people suffering from kidney diseases died due to inaccessibility to dialysis. Hence, rising number of patients suffering from renal disorders with a regular need for dialysis is augmenting the demand for hemodialysis device, thereby propelling the growth of blood purification equipment market.
Moreover, growing occurrence of chronic kidney illnesses, coupled with consumer inclination towards home-based healthcare, and technological advancements in hemodialysis are major factors driving the growth of the global blood purification equipment market for the forecast period. However, inflating prices for equipment and risks involved during blood purification procedures may hinder the market growth.
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Based on product, blood purification equipment market is categorized into blood filtration devices, hemodialysis devices, CRRT (continuous renal replacement therapy) devices, plasma exchange devices, and hemoperfusion devices. The hemodialysis devices segment is expected to dominate the market over the forecast period, due to surging need for the treatment of CKD. In terms of end user spectrum, the market is bifurcated into hospitals, medical centers, and others.
Prominent companies operating in blood purification equipment market are Spectral Medical, Inc., CytoSorbents Corporation, Baxter International, Inc., Fresenius Medical Care, Medtronic plc, Braun Melsungen AG, Nikkiso Co., Ltd., Haemonetics Corporation, Jafron Biomedical Co., Ltd., and Kaneka Medix Corp.
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