Blood Purification Equipment
Market: Introduction
According to the report, the global blood
purification equipment market was valued at US$ 10.3 Bn in 2019 and is projected to expand
at a CAGR of 7.5% from 2020 to 2030. Rise in prevalence of
diabetes and high blood pressure resulting in chronic kidney diseases and
favorable reimbursement policies are anticipated to drive the global blood
purification equipment market from 2020 to 2030. North America is expected to
account for significant share of the global blood purification equipment market
during the forecast period. This can be attributed to the growth of the market
in the U.S., owing to strong presence of market players and increase in patient
population suffering from acute kidney disease and sepsis. Additionally,
technological advancements and focus of market players on the development of
cost-effective equipment for blood purification is likely to boost the market
in the country.
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Moreover, increase in the number of people suffering from COVID-19
infections and rise in number of people reaching the critical phase requiring
blood purification contribute to North America’s dominance of the global blood
purification equipment market during the forecast period. The market in Asia
Pacific is projected to expand at a high CAGR of 8.1% from
2020 to 2030. This can be ascribed to the growth of the healthcare sector in
countries such as China, Japan, and India. Moreover, increase in the geriatric
population, rise in the number of people suffering from kidney diseases, and
focus of leading players on strengthening presence in the emerging markets are
anticipated to propel the market in the region during the forecast period.
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Favorable Government Reimbursement
Policies to Propel Market
Governments of various countries across the world provide
reimbursement for dialysis procedures. The total government expenditure is
US$ 57.1 Bn
per year for approximately 2,600,000 patients on dialysis across
the world. According to recent studies, Medicare reimburses around US$ 240 to
US$ 255 per
dialysis treatment. Medicare’s spending on kidney failure patients stood at
US$ 35 Bn
in 2016. Hemodialysis care costs the Medicare system an average of US$ 90,000 per
patient annually in the U.S. for a total of US$ 28 Bn.
Few countries in Asia Pacific also have reimbursement policies for dialysis
procedures for patients suffering from chronic kidney diseases. For instance,
the Government of South Korea reimburses 90% of the total
dialysis cost. The Government of Japan provides 100%
reimbursement to patients for dialysis procedures. Hence, favorable
reimbursement schemes in various countries help patients to meet the high
expenses involved with dialysis procedures, which is expected to drive the
global blood purification equipment market during the forecast period.
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Dialysis to Dominate Market
In terms of type, the global blood purification equipment market
has been divided into dialysis, CRRT, hemoperfusion, and others (plasma
exchange and immunoadsorption). High cost of the devices, increase in the
number of dialyzers sold annually, and rise in prevalence of kidney diseases
among the population are likely to propel the segment during the forecast
period.
Portable to be Highly Attractive
Product Type
Based on product type, the global blood purification equipment
market has been bifurcated into portable and stationary. The portable segment
is projected to dominate the global blood purification equipment market during
the forecast period due to a number of advantages, including the ease of
movement and less space utilized, and preferred by professionals for continuous
blood purification process.
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High Prevalence Rate of Acute
Kidney Injury to Drive Market
In terms of application, the global blood purification equipment
market has been classified into sepsis, COVID-19, infectious diseases, acute
kidney injury, and others. The acute kidney injury segment is anticipated to
dominate the global blood purification equipment market during the forecast
period due to increase in the global burden of acute kidney injury (AKI).
According to BMC Nephrology, around 13.3 million people across the world are
estimated to be affected by acute kidney injury (AKI) annually, 85%
of these live in developing countries.
Dialysis Centers to be Major End
Users
Based on end user, the global blood purification equipment market
has been categorized into hospitals & clinics, dialysis centers, and
others. The dialysis centers segment is expected to constitute significant
share of the global blood purification equipment market by 2030. The segment
dominated the global market owing to rise in prevalence of chronic kidney
disease (CKD) and increase in number of dialysis centers across the globe.
Competition Landscape in Blood
Purification Equipment Market
The report also provides profiles of leading players operating in
the global blood purification equipment market. These include Cytosorbents
Corporation, Baxter International, Inc., ExThera Medical Corporation, Aethlon
Medical, Inc., Fresenius SE & Co. KGaA, Cerus Corporation, Jafron
Biomedical Co., Ltd., Spectra Medical, Inc., B. Braun Melsungen AG, and Nikkiso
CO, Ltd.
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