What are Blood Purification Devices?
Blood Purification is a procedure which involves withdrawal of blood from the patient’s body into a device or an equipment in order to eliminate the impurities and pump it back into the body. The blood purification devices are similar to that of dialysis equipment. These device use thin fibres for capturing and removing viruses and helps in filtering the blood.
What is the market for Global Blood Purification Devices?
Global Blood Purification Devices Marketwas valued at USD 4.71 billion in 2020, growing at a CAGR of 4.18% during the forecast period from 2021 to 2026, to reach USD 5.33 billion by 2026.
Blood Purification Devices Market Recent Developmental Activities:
- On December 08, 2021, Medtronic had launched the first neonatal dialysis machine in the US.
- On June 18, 2021, the New York-based startup, Qidni Labs, a company pursuing waterless and mobile blood purification systems, had announced that they are looking forward to human trials in 2022 following a successful animal study.
- On March 12, 2021, Baxter had received the FDA clearance for its latest, portable dialysis machine designed to connect directly with electronic medical records for patients’ prescriptions and treatment data.
- On April 03, 2020, Food and Drug Administration had approved Outset Medical’s Tablo Hemodialysis System for use in a home setting after positive results from 30 patients who completed a year-long trial.
What are the market drivers for Global Blood Purification Devices?
The major drivers driving the demand for Global Blood Purification Devices are the increase in the number of chronic kidney disease and end stage renal disease patients, increasing number of cases of hypertension and diabetes leading to kidney disorders, technological advancements in hemodialysis, rise in the number of product approvals by FDA and increase in adoption of blood purification equipment .
What are the market barriers for Global Blood Purification Devices?
The high cost of blood purification equipment and the risks associated with the blood purification procedures are expected to limit the market growth over the forecast period.
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What are the key players operating in Global Blood Purification Devices?
Some of the key market players operating in the Diagnostic Imaging Equipment market includes Asahi Kasei Corporation, B. Braun Melsungen AG, Baxter International Inc., Fresenius SE and Co. KGaA, Infomed SA, Jafron Biomedical Co., Ltd., Kaneka Corporation, and others.
What regions has the highest share in Blood Purification Devices market?
North America is expected to dominate the overall Blood Purification Devices during the forecast period, 2021 to 2026. This domination is due to the rising prevalence of CKD and ESRD in patients along with the increased awareness regarding blood purification devices and the rapid expansion of healthcare infrastructure.
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