What is Blood Purification Devices Market?
The demand for blood purification therapies has increased significantly over the past few decades and is increasingly being used to treat a variety of conditions that cannot be treated with conventional therapies, including surgery and drug delivery. The advances made by bioseparation techniques such as filtration, dialysis, and adsorption are one of the key factors that are expected to significantly fuel the expansion of the blood purification device market over the forecast period. Blood purification therapies offer a high level of efficiency in the quick and direct removal of pathogens, which further increases their acceptance in several regions of the world. At present, blood purification therapy is primarily used for three major clinical applications, such as plasmapheresis of toxins, life support for organ failure, including hemodialysis for renal failure, and treatment of immune and metabolic disorders, including immune adsorption for autoimmune diseases. The increasing prevalence of metabolic and autoimmune diseases such as kidney failure worldwide is one of the main drivers for the introduction of blood purification devices. A number of therapeutic advances in technology and new blood purification devices have been developed over the past few decades - a trend that is expected to continue over the forecast period.
The market study is being classified by Type (Hemodialysis Device, Blood Filtration Device, Continuous Renal Replacement Therapy (CRRT) Device, Hemoperfusion Device and Plasma Exchange Device), by Application (Hospitals & Clinics, Dialysis Centers and Others) and major geographies with country level break-up.
Asahi Kasei Medical (Japan), Haemonetics (United States), Toray Industries, Inc. (Japan), Macopharma (France), Cytosorbents Corporation (United States), Baxter International, Inc. (United States), B. Braun Melsungen AG (Germany), ExThera Medical Corporation (United States), Medtronic plc (Bellco) (Ireland), Aethlon Medical, Inc. (United States), Fresenius SE & Co. KGaA (Germany), Cerus Corporation (United States), Jafron Biomedical Co., Ltd. (China), Spectra Medical, Inc. (United States) and Kaneka Medix Corp (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Nikkiso Co, Ltd. (Japan), Shandong Zhongbaokang (China) and Nanjing Shuangwei (China).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Blood Purification Devices market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Blood Purification Devices market by Type, Application and Region.
On the basis of geography, the market of Blood Purification Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The High Prevalence of Patients Suffering With Chronic Kidney Diseases
- The Growing Adoption of Blood Filtration Therapies
- High Demand for Blood and Blood Components for the Treatment
- A Rise in High Degree of Efficiency in Rapid and Direct Removal of Pathogenic Agents
Market Trend
- Rapidly Changing Health Care Infrastructure in Emerging Countries
- The Rise in New Diagnostics and Medical Treatment Devices
- Increasing Knowledge and Understanding of Pathophysiology and Hematology
Restraints
- High Costs Associated With the Products
Opportunities
- The Rising Development of Blood Filtration Technology
- The Rising Development in the Healthcare Industry and Rising Healthcare Expenditures
Challenges
- Lack of Access to Dialysis in Under Developed Regions
In August 2019, CytoSorbents Corporation announced that it had received approval for its CytoSorb from the European Union through May 2024 and ISO 13485: 2016 certification for its full quality system. The product is expected to be manufactured by September 2022.
In April 2020, the U.S. Food and Drug Administration (FDA) issued an emergency use authorization for blood purification equipment to treat COVID-19 positive patients.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Manufactures of Blood Purification Devices, Suppliers and Distributors of Blood Purification Devices, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry