Stepper Motor
According to a new market research study titled ‘‘Blood Purification Equipment Market to 2027 – Global Analysis and Forecasts by Product, End User and Geography. The global blood purification equipment market is expected to reach US$ 5,502.8 Mn in 2027 from US$ 3,881.3 Mn in 2018. The market is estimated to grow with a CAGR of 4.0% from 2019-2027.
Blood purification equipment work similar to the dialysis equipment. These equipment use thin fibers to capture and remove viruses and filters the blood. The equipment requires the drawing of blood through an artery, which is sent through a tube into the equipment, then back into the body.
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The market is likely to grow due to increasing prevalence of chronic kidney diseases, technological advancements in hemodialysis and rising adoption of home based healthcare. However, the factors such as high cost of blood purification and complications associated with blood purification are likely to restrict the growth of market during the forecast period.
Global blood purification equipment market was segmented by product, and end user. The market based on product segment is classified as hemodialysis device, blood filtration device, continuous renal replacement therapy (crrt) device, hemoperfusion device, plasma exchange device. Based on the end user segment the market is classified as medical centre, hospitals, and others
The market is likely to grow due to increasing prevalence of chronic kidney diseases, technological advancements in hemodialysis and rising adoption of home based healthcare. However, the factors such as high cost of blood purification and complications associated with blood purification are likely to restrict the growth of market during the forecast period.
Major players operating in the Blood Purification Equipment market, CytoSorbents Corporation, Fresenius Medical Care. (NxStage Medical, Inc.), Spectral Medical Inc., Baxter International Inc., Nikkiso Co, Inc., Haemonetics Corporation, B. Braun Melsungen AG, Medtronic plc (Bellco), Jafron Biomedical Co., Ltd., and Kaneka Medix Corp among others. The companies are trying to optimize their growth with the help of organic strategies such as product launches, approvals, expansion and product up-gradation. For instance, in June 2019, Baxter International Inc. announced launch of its PrisMax system which received 510(k) clearance and is available in US for Care for stage three critical Patients. However, the system is available in 20 countries across Europe and Australia. It is also expecting to file for regulatory approval of PrisMax in additional countries in 2019 and 2020.
Thus, it is expected technological advancements and acquisitons and partnerships is likely to increase the competitiveness of the companies in the blood purification equipment market through their competitive advantages.
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