Informative Report On (COVID-19 Updates) Blood Purification Equipment Market Size is Generating Revenue of $23.93 Billion by 2027 | Nikkiso Co, ltd. and SWS Medical Group.

The global blood purification equipment market is driven by increasing prevalence of metabolic and autoimmune diseases worldwide, advancements in bio-separation techniques comprising filtration, dialysis, and adsorption and upsurge in the occurrence of diabetes and high blood pressure leading to kidney diseases.

The global blood purification equipment market size was valued at $14.62 billion in 2019, and is projected to reach $23.93 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027.

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COVID-19 scenario-

1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.

2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.

3)However, as the world has been recovering from the pandemic, the market is estimated to get back on track.

Blood from the patient’s body is circulated through an external equipment or device for removal of toxin, endotoxin, or impurities and is returned to the patient’s body with the help of blood collection tubing. This process is termed as blood purification. Nowadays, blood purification technique is widely used for treating several disorders that are refractory to traditional therapies, such as surgeries and drug administration. Blood purification works by eliminating pathogenic agents and toxins from blood using numerous other bio-separation procedures such as filtration, dialysis or adsorption. Owing to these advantages over conventional methods, blood purification is majorly preferred in various autoimmune and metabolic disorder treatments.

Presently, the most known application of blood purification technique is hemodialysis treatment. Large patient population suffering from kidney failure is stimulating the demand for development of sophisticated equipment and devices for blood purification in these hemodialysis patients. As a result of which, pharmaceutical players in the market are investing in R&D of these equipment, thereby, driving the growth of the market. Furthermore, medical discoveries in the fields of hematology and pathophysiology of diseases have significantly extended the application of blood purification. This has ultimately resulted in increased demand for blood purification devices in the past few years and is expected to continue over the analysis period.

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On the other hand, COVID-19 pandemic has impacted every industry vertical worldwide. The existing scenario evidently states that COVID-19 will continue to limit several aspects of the healthcare sector in foreseeable future, up until an effective treatment can be made accessible to the population on a larger scale. Accordingly, the impact of the pandemic on the healthcare system is possibly expected to be deeper and long lasting. The nationwide lockdowns, government regulations, and continuous increase in infection rate across numerous countries has created a widespread financial impact on hospitals, dialysis centers and clinics. Several dialysis clinics have cancelled, or postponed, the treatments deemed to be non-urgent. Furthermore, intermittent supply chain activities and absence of human resources impacted the market growth rate to a great extent. However, COVID-19 is foreseen to have a stronger influence on the blood purification equipment market growth. As the restrictions are easing slowly across the world, the market is anticipated to gain traction in near future, due to upsurge in research activities mainly focused on using blood purification as a method to limit the transmission of COVID-19 infection. Numerous companies have approached the U.S. FDA for filing emergency use authorization (EUA) in order to use their blood purification equipment for treating patients with COVID-19. Therefore, the pandemic is expected to have a positive impact on the overall market growth.

The report segments the global blood purification equipment market based on type into portable and stationary. Portable segment dominated the blood purification equipment market in 2019, and is estimated to register a CAGR of 5.7% from 2020 to 2027. This is attributed to the benefits offered by portable equipment over stationary devices. These blood purification equipment are mobile and can be transferred from one critical care unit to other, thereby avoiding patient’s discomfort and usually occupy lesser space than stationary equipment. Thus, growing acceptance and adoption of portable equipment by healthcare professionals is expected to have a positive impact on the segment growth.

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Based on indication, the blood purification equipment market can be divided intosepsis, renal diseases, and others. The renal disease segment is expected to garner the largest share in blood purification equipment market due to the increasing prevalence of kidney related diseases among the population. For instance, as per the data published by National Kidney Foundation, approximately 10% of the population across the globe is affected by chronic kidney disease (CKD). As dialysis plays a vital role in treating patients with kidney disorders, the demand for blood purification equipment used in the dialysis treatments is ultimately expected to increase over next few years.

Based on end user, the market is segmented into hospitals and clinics, dialysis centers and others. The dialysis centers segment dominated the blood purification equipment market in 2019, generating $7,689.40 million in 2019, and is expected to garner $12,641.76 million by 2027, registering a CAGR of 5.7% from 2020 to 2027. This growth is attributed to the upsurge in number of patient population opting for dialysis. Likewise, numerous government and private organizations undertake in-center dialysis programs and provide their services to patients suffering from end stage renal disease (ESRD)and chronic kidney diseases (CKDs). Likewise, majority of companies involved in manufacturing of blood purification equipment are also engaged in developing dialysis centers in various regions. For instance, Fresenius Medical Care, a prominent player in the market alone has 4,000 dialysis clinics operating globally as of 2020. Thus, these factors are collectively responsible for the growth of the end user segment.

Presently, Asia-Pacific and North America are the most lucrative regions for market players, owing to increase in awareness about blood purification equipment and devices among healthcare professionals & patients, developments in healthcare infrastructure, and higher prevalence of ESRD and CKDs.

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The Major Key Players Are:

Asahi Kasei Corporation, B. Braun Melsungen AG, Baxter International Inc., Fresenius SE and Co. KGaA, Healthwell Medical Tech. Co., Ltd., Infomed SA, Jafron Biomedical Co., Ltd., Kaneka Corporation, Nikkiso Co, ltd. and SWS Medical Group.

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