Blood Purification Equipment Market Dynamics by 2031
The Blood purification equipment market size is projected to reach US$ 20.76 billion by 2031 from US$ 12.27 billion in 2023. The market is expected to register a CAGR of 6.80% during 2023–2031. The growing technological advancements in blood purification equipment will likely remain key trends in the market.
Blood Purification Equipment Market Analysis
Blood purification equipment utilizes advanced technologies such as hemodialysis, hemofiltration, and plasmapheresis to effectively filter and cleanse the blood. This ensures the optimal functioning of vital organs and improves overall patient outcomes. As the healthcare landscape continues to evolve, the demand for innovative blood purification solutions is expected to increase.
Blood Purification Equipment Market Overview
In 2023, Asia Pacific accounted for the fastest-growing region in the global blood purification equipment market and was projected to grow at a faster pace during 2023-2031. The blood purification equipment market in the region is majorly held by countries such as China and Japan. The factors including the high prevalence of patients suffering from chronic kidney diseases, the rising number of players operating across the country, and the rising development of blood purification technology are leading the growth of the blood purification equipment market in these countries. In January 2022, Kaneka Corporation, headquartered in Minato-ku, Tokyo announced construction of a new medical device plant in the Tomakomai Tohbu Industrial Area in Hokkaido, Japan's northern region. The company will invest ~ 10 billion yen (US$ 64.01 Billion) in this venture, with the plant expected to commence operations in May 2024. This new facility is incorporating advanced automation to enhance manufacturing processes and increase productivity and is aimed to meet the growing global demand and facilitate Kaneka's expansion in the international market.
Countries such as Australia, India, and South Korea are estimated to serve various growth opportunities due to the rising development in the healthcare industry and rising healthcare expenditures.
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Blood Purification Equipment Market: Strategic Insights
Market Size Value in US$ 3,881.3 Million in 2018 Market Size Value by US$ 5,502.8 Million by 2027 Growth rate CAGR of 4.0% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Blood Purification Equipment Market: Strategic Insights
| Market Size Value in | US$ 3,881.3 Million in 2018 |
| Market Size Value by | US$ 5,502.8 Million by 2027 |
| Growth rate | CAGR of 4.0% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Blood Purification Equipment Market Drivers and Opportunities
Growing Incidences and Prevalence of Chronic Kidney Diseases to Favor Market
Chronic kidney disease (CKD) is a condition in which the kidneys are damaged and cannot filter blood properly. Because of this, excess fluid and waste from blood remain in the body, which may cause other health problems such as heart disease and stroke. CKD usually worsens over time, even though treatment has shown slow progression which results in human kidneys to stop working completely and requires performing dialysis that helps to filter and purify the blood with the help of an external machine. These machines known as hemodialysis devices contributes a major share in the blood purification equipment market.
Additionally, rising prevalence of diabetes among the population has increased the risk of renal diseases. According to the International Diabetes Federation (IDF) in 2021, ~ 537 million adults worldwide were living with diabetes. This number is further projected to rise to 643 million by 2030 and 783 million by 2045.
Growth Opportunities in Emerging Economies
Some emerging countries such as India, China, Hong Kong, Indonesia, Malaysia, Singapore, South Korea, and Thailand have grown much faster and more consistently than many high upper income economies. This is due to the development of their healthcare facilities and services and the technological advancements by nations. According to the American Society of Nephrology report, the survival of patients on dialysis is one of the best in Japan owing to factors such as a better prognosis for Japanese patients undergoing dialysis, including more intensive care and broader coverage of drugs, buy the healthcare insurance.
Additionally, in India, the National Health Mission (NHM) offers 100 % free dialysis treatment for patients belonging to the below poverty line (BPL) economic group. Furthermore, the State Government of India are entering into Public Private Partnership for Hemodialysis services. The private partners provide medical human resource, dialysis machine, Reverse Osmosis (RO) water plant infrastructure, and consumables within the District Hospital.
Therefore, the above mentioned factors are expected to provide an opportunistic scenario for the growth of blood purification equipment market during 2023-2031.
Blood Purification Equipment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Blood purification equipment market analysis are product and end user.
- The blood purification equipment market is segmented based on product into hemodialysis device, blood filtration device, continuous renal replacement therapy (CRRT) device, hemoperfusion device, plasma exchange device. The hemodialysis device segment held the largest market share in 2023.
By end user, the market is segmented into medical centre, hospitals, and others. The hospitals segment held the largest market share in 2023.
Blood Purification Equipment Market Share Analysis by Geography
The geographic scope of the Blood purification equipment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America holds the largest market share of the next-generation sequencing market. The Blood purification equipment market in North America is analyzed based on three major countries: the US, Canada, and Mexico. The US is estimated to have a larger share of the North America Blood purification equipment market in 2023. The blood purification market in the US is expected to grow due the rising advancements for blood purification procedures. The country has well-developed healthcare facility centers equipped with highly advanced equipment and instruments. The country is also experiencing increasing incidences of acute kidney injury (AKI), multiple organ dysfunction syndrome or sepsis, end-stage renal disease, and others.
Blood Purification Equipment Market Report Scope
Blood Purification Equipment Market News and Recent Developments
The blood purification equipment market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes essential corporate publications, association data, and databases. A few of the developments in the Blood purification equipment market are listed below:
- Kaneka Corporation obtained approval for the manufacture and sale of its adsorption type blood purification device called Rheocarna. This device is designed to treat a severe form of arteriosclerosis obliterans (ASO) that results in lower limb ulcers. The product was aimed to launch in the spring of 2021 after it is covered by health insurance. (Source: Kaneka Corporation, Press Release, 2020)
- Braun Avitum AG and CytoSorbents Corporation announced a global co-marketing agreement to promote the OMNI Continuous Blood Purification Platform with CytoSorb. The joint marketing of CytoSorb with B. Braun's newest OMNI blood purification platform was aimed to provide critically ill patients with greater access to this advanced treatment for deadly inflammation. (Source: Braun Avitum AG, Press Release, 2021)
Blood Purification Equipment Market Report Coverage and Deliverables
The “Blood Purification Equipment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Blood purification equipment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Blood purification equipment market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Blood purification equipment market analysis covering key market trends, global and regional framework, significant players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the Blood purification equipment market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Device ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
North America dominated the blood purification equipment market in 2023.
Factors including increasing incidences of acute and chronic kidney diseases and rising adoption of home-based healthcare are driving the blood purification equipment market growth.
Growing technological advancements in blood purification equipment is a future trend in the market.
CytoSorbents Corporation; Fresenius Medical Care; Spectral Medical Inc; Baxter International Inc..; Haemonetics Corporation.; B. Braun Melsungen AG; Nikkiso Co., Ltd.; Medtronic plc (Bellco); Kaneka Medix Corp; and Jafron Biomedical Co., Ltd. are some leading players operating in the blood purification equipment market.
The Blood purification equipment market is estimated to reach US$ 20.76 billion by 2031.
The Blood purification equipment market is anticipated to grow at a CAGR of 6.80% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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