Blood Purification Devices Market Value Anticipated To Reach US$ 5,502.6 Mn By 2027: Acumen Research And Consulting

Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Blood Purification Devices Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”

LOS ANGELES, Feb. 01, 2021 (GLOBE NEWSWIRE) -- The Global Blood Purification Devices Market is expected to grow at a CAGR of around 3.8% from 2020 to 2027 and reach the market value of over US$ 5,502.6 Mn by 2027.

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North America will dominate the global blood purification devices regional market forecast period. Fast product approvals, high government involvement during COVID-19 pandemic to support the patient population by different product offerings, and growing demand from the geriatric population enhance the growth of blood purification devices for the North America regional market.

In April 2020, US FDA approved blood purification device to tackle COVID-19 patients. The newly system approved can be utilized among patients who are 18 years or older and have been admitted to the ICU. The product plays a vital role for support in favor of patients experiencing or will experience respiratory failure.

On the other hand, Asia Pacific will gain a significant pace in the coming years for blood purification device market. The APAC market of blood purification device will grow tremendously through rising adoption level for several new products, new medical diagnostic, and treatment procedures. Additionally, high population base in Asia Pacific region suffering from kidney related disorders, cardiac dysfunction, technological advancements in blood collection tubes aligned with filtration techniques acts positively for the regional market growth.

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Market Driver: commercialization of blood purification devices products in the global market

Rising incidences of chronic kidney disease (CKD) will enhance commercialization of blood purification devices in worldwide market. According to the Center for Disease Control and Prevention, CKD is more prevalent in people aged 65 years or older that constitute around (38%) than in people aged 45-64 years (13%) or 18-44 years (7%). Additionally, National Chronic Disease Fact Sheet highlights that around 15% adults are estimated to suffer from CKD in the US alone. This scenario proves beneficial for the industry growth as it raise demand for blood purification device globally.

Market Opportunities: Technological advancements offers lucrative benefits for the global blood purification device market

Technological advancements coupled with innovations positively influence the market. For records, prominent players such as NxStage and Jafron have wide product portfolio of blood purification device that focus upon reducing the mortality rate in patients suffering from acute kidney failure. In May 2017, NxStage Medical, Inc. announced next generation hemodialysis system that has received FDA clearance. The newly launched product has specialized features and capabilities that involves a new touch screen user interface and integrated blood pressure monitor designed and assists for easy use for patients performing home hemodialysis.

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Segmental Outlook

Blood purification devices market is segmented based on type, application, and end-user. By type, the market is bifurcated as portable and stationary. By application, the market is categorized as continuous blood purification, hemoperfusion, and hemodialysis. By end-user the market is segregated as hospitals, clinics, and others.

Competitive Landscape

Some of the leading competitors are Accel Diagnostics, Aethlon Medical, Cerus Company, Circle Biologics , CytoSorbents, Jafron, Medtronic, NxStage Medical, Spectral Medical, Stellarray, Toray Medical, and among others.

Some of the key observations regarding Blood Purification Devices industry include:

  • In March 2020, Cerus Company, announced approval of its new product namely, Intercept plasma with an alternative plastic disposable kit. The newly launched product is designed such that the Intercept blood system is best suited to reducing pathogen, viruses, bacteria, protozoa, and contaminating donor leukocytes in plasma components. The new product once used assist in reducing the risk of transfusion-transmitted infections.
  • In December 2020, Medtronic announced launching of new product namely, Carpediem cardio-renal pediatric dialysis emergency machine in the U.S. The product is highly specialized for treating acute kidney injury or fluid overloaded patients requiring hemodialysis or hemofiltration therapy. The first Carpediem machines, intended to provide continuous renal replacement therapy (CRRT) is offered to patients between 2.5 to 10 kg and was successfully installed and is currently used at Cincinnati Children’s Hospital Medical Center.
  • In February 2020, Baxter announced partnership with Spectral Medical for distribution of TORAYMYXIN™ PMX-20R (PMX), a hemoperfusion filter, and the Endotoxin Activity Assay™ (EAA), an on-market companion diagnostic tool that aids in the risk assessment of ICU patients for progression to severe sepsis.

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