PUBLISHER: The Business Research Company | PRODUCT CODE: 1409261
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409261
“Blood Purification Equipment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on blood purification equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for blood purification equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The blood purification equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Blood purification equipment comprises hollow-fiber membrane devices utilized in critical care nephrology, facilitating blood purification through processes such as diffusion, convection, and ultrafiltration. These devices filter blood by removing toxins and irreparably damaged red blood cells.
The primary product categories of blood purification equipment include portable and stationary variants. Portable equipment is designed to be moved between locations to conduct blood purification procedures, particularly beneficial for patients with limited mobility, such as those in intensive care units. This equipment is utilized to eliminate waste products and excess fluids from the blood. It finds applications across various medical indications such as sepsis, renal diseases, among others, and is predominantly used by hospitals and clinics, dialysis centers, and similar healthcare facilities.
The blood purification equipment market research report is one of a series of new reports from The Business Research Company that provides blood purification equipment market statistics, including blood purification equipment industry global market size, regional shares, competitors with a blood purification equipment market share, detailed blood purification equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the blood purification equipment industry. This blood purification equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The blood purification equipment market size has grown strongly in recent years. It will grow from $19.1 billion in 2023 to $21.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth witnessed in the historical period can be attributed to several factors, including the increased incidence of renal diseases, the expanding population of elderly individuals, government-driven initiatives, the rising number of ICU admissions, and the escalation of chronic health conditions.
The blood purification equipment market size is expected to see strong growth in the next few years. It will grow to $28.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. Anticipated growth in the upcoming period can be attributed to several factors, notably the adoption of home-based dialysis solutions, a concentrated effort on cost-effectiveness, innovation in renal replacement therapies, the implementation of personalized treatment approaches, and supportive regulatory measures. Key trends expected in the forecast period encompass the adoption of personalized medicine approaches, improved connectivity in healthcare, increased collaborations and partnerships within the industry, expanded applications of dialysis therapies, and the emergence of multi-modal therapies in the field of renal replacement.
The blood purification equipment market is anticipated to experience growth, primarily driven by the increasing number of kidney transplants. Kidney transplants involve the surgical transplantation of a healthy kidney from a donor into a patient with end-stage renal disease (ESRD) or severe kidney-related disorders. Blood purification equipment plays a crucial role in managing patients undergoing kidney transplants by removing excess medications, maintaining electrolyte balance, and managing fluid levels. Notably, in 2022, over 25,000 kidney transplants were conducted in the United States, reflecting a new annual record and a 3.4% increase over the previous year, according to the United Network for Organ Sharing. This surge in kidney transplants is a significant driver for the blood purification equipment market.
The growth of the blood purification equipment market is further propelled by the increasing prevalence of metabolic and immune disorders. Autoimmune and metabolic disorders can lead to conditions such as acute kidney injury, diabetes, and chronic kidney injury, necessitating blood filtration through artificial equipment. As reported by the International Diabetes Federation in January 2022, the global prevalence of diabetes in individuals aged 20-79 was 536.6 million in 2021 and is expected to rise by 12.2% to reach 783.2 million by 2045. This rise in metabolic and immune disorders contributes to the demand for blood purification equipment to manage associated conditions effectively.
Major companies in the market are focusing on innovation in response to the growing demand for blood purification therapy. An example is Santersus AG, a therapeutic apheresis company, which received FDA breakthrough designation for its medical device product, NucleoCapture, in June 2022. NucleoCapture is designed to cleanse patient blood of neutrophil extracellular traps (NETs), recognized as contributors to conditions such as sepsis. This innovative product represents a significant advancement in capturing and removing circulating NETs from patient blood, addressing the need for safe and effective NET removal without compromising neutrophil function. The development of such innovative products showcases the commitment of industry leaders to meet the evolving demands in blood purification therapy.
A prominent trend is the emphasis on product innovations by major companies to maintain their market position in the blood purification equipment market. For instance, Toray Industries, Inc., a Japanese material manufacturer, introduced FILTRYZER HDF in November 2021. Recognized as Japan's first polymethyl methacrylate (PMMA) hollow fiber membrane-based hemodiafiltration device, FILTRYZER HDF combines hemofiltration and hemodialysis. This innovative device enhances biocompatibility and minimizes the risk of allergic reactions, providing an advanced solution for removing a broader range of toxins from the blood. The launch of FILTRYZER HDF signifies a significant leap in blood purification technology, offering enhanced capabilities for eliminating toxins and waste products, particularly beneficial in treating conditions such as kidney failure.
In September 2022, W. L. Gore & Associates, Inc., a US-based company specializing in products derived from fluoropolymers, acquired InnAVasc Medical, Inc. This strategic acquisition adds graft technology to Gore's dialysis access solutions. The InnAVasc device, featuring graft circuits, facilitates safe, easy, reproducible, and durable access to dialysis treatment for patients. InnAVasc Medical Inc., the acquired company, is a US-based medical equipment manufacturer with expertise in designing and developing products specifically for vascular access in hemodialysis. This move underscores the commitment of major players in the blood purification equipment market to drive innovation and enhance the efficiency and safety of blood purification processes.
Major companies operating in the blood purification equipment market report are B. Braun Melsungen AG, Baxter International Inc., Nikkiso Co. Ltd., Spectra Medical Inc., Fresenius SE and Co. KGaA, Cerus Corporation, Infomed SA, Asahi Kasei Corporation, Healthwell Medical Tech. Co. Ltd., SWS Medical Group, ExThera Medical Corporation, Stellarray Inc., Medtronic, Toray Medical Co Ltd., NxStage Medical Inc., Nipro Pharma Corporation., WEGO Group, JMS Co. Ltd., Shanwaishan Medical Group, Cytosorbents Corporation, Aethlon Medical Inc., SWS Hemodialysis Care Co Ltd, Jafron Biomedical Co. Ltd., Medica S.p.A., Medivators Inc., Rockwell Medical Inc., Terumo Corporation, Belco, Spiggle & Theis Medizintechnik, Delcon .
Asia-Pacific was the largest region in the blood purification equipment market in 2023. The regions covered in the blood purification equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the blood purification equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The blood purification equipment market consists of sales of dialysis machines, continuous renal replacement therapy and hemodialysis devices (CRRT), in vitro diagnostics, infusion pumps, personal protective equipment, and remote or wearable patient monitoring devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.