The global blood purification equipment market size was estimated at USD 17.29 billion in 2022 and is projected to hit around USD 31.11 billion by 2032, growing at a CAGR of 6.1% during the forecast period from 2023 to 2032.
The blood purification technique involves withdrawing blood from the patient's body into equipment to extract all the impurities and pump it back into the body. Blood purification plays an extremely important part in various kidney and blood-related problems. Due to the high cost of the equipment and the risk which are associated with the blood purification procedure the use of these devices may hinder the growth of the blood purification equipment market in the future
During the pandemic due to a nationwide lockdown and restrictions on movement the blood purification equipment market was also affected. This industry faced challenges of the demand and supply of blood purification components and other products related to the functioning of the equipment. Define availability of human resources and interrupted supply chain activities negatively impacted the market growth.
Various advancements in dialysis and filtration procedures which are coupled with absorption procedures have led to the growth of this market. The blood purification equipment market it's seeing growth due to the adoption of these equipment in various critical treatments. Blood purification devices are majorly used in renal or organ failures, plasmapheresis, and immune metabolic disorders. As there is an increase in the prevailing metabolic and immune disorders like kidney failure, increase in diabetes and hypertension, under increasing geriatric population across the nations which are extremely susceptible to the diseases related to kidneys are the major reasons which are impelling the growth of the blood purification equipment market. Various technological advancements which are associated with the blood purification technique remove further help in the growth of the market during the coming years.
Blood purification therapies are extremely efficient for the fast and direct removal of pathogenic agents and these techniques will be adopted across many nations in the world. The advancements in the techniques like bioseparation techniques, filtration, adsorption, and dialysis are the factors that are expected to provide a good boost to the expansion of the blood purification equipment market in the future. Currently, blood purification therapy is used for three major reasons plasmapheresis, life support for organ failures, and metabolic disorders.
Report Scope of the Blood Purification Equipment Market
|Market Size in 2023||USD 18.26 Billion|
|Market Size by 2032||USD 31.11 Billion|
|Growth Rate from 2023 to 2032||CAGR of 6.1%|
|Forecast Period||2023 to 2032|
The development of advanced equipment is driving the market at a tremendous pace. Emerging technologies are helping to provide faster and more accurate therapeutics to the patient. The growing number of R&D activities taking place are also helping the market to grow. An increasing number of patients with acute and chronic kidney diseases also proves to be a driving force for the market during the forecast period. Advanced equipment providing faster and safer blood purification procedures are helping the market to show sufficient growth.
COVID-19 will negatively impact market growth during the pandemic. Reduction in the number of dialysis and other accessories healthcare services hampered the growth of the market, thus a decline was seen during the pandemic. The high cost associated with dialysis procedures also hampers market growth, especially in developing and underdeveloped countries. The lower socioeconomic status of the population restricts market growth to a great extent. The lack of healthcare facilities and dialysis centers in the rural region leads to a loss of potential patient base leading to a decline of the blood purification equipment market.
A higher geriatric population provides a higher number of patients with acute and chronic kidney diseases and kidney failure cases. This in turn helps the market to find an opportunity to grow during the forecast period. Increasing health awareness among the people also has proved to be a boon for the growth of the market. Better healthcare and reimbursement facilities also encourages the population to opt for advanced technological procedures.
The lack of healthcare facilities in developing and underdeveloped countries proves to be a challenge for the growth of the market. Due to the growing health awareness among people, the side effects associated with the purification procedures are highlighted which hinders the market growth. The high cost which people have to bare in order to the advantage of these facilities also discourages market growth.
On the basis of the type, the dialysis segment holds the largest market share, and increased inquiry attic populations across developing as well as developed nations with increased risks related to the kidneys or other organs are driving the market growth across the globe. Dialysis is an extremely efficient technique used by many doctors and preferred by many patients. There is increased adoption of blood purification equipment as an increasing number of kidney failures across the world. There is a growing preference among consumers to receive dialysis treatment through dialysis centers. Even though dialysis treatment takes a lot of time and patience spend most of their time in the centers where the dialysis sessions are carried out the number of dialysis patients is still expected to grow for this treatment as it is extremely efficient and will increase in the next year.
On the basis of the product type, the portable segment accounted for more than 80% of revenue share in 2022 and is expected to see good growth during the forecast period. This segment shall dominate the global blood purification equipment market till the year 2032. As these equipment do not occupy a lot of space and they simplify the ease of movement especially in the case of critical care units therefore the market for portable devices is expected to grow during the forecast period. These are the widely preferred devices by healthcare professionals in order to treat their patients.
On the basis of application, the renal disease segment is expected to have the highest revenue during the forecast. Due to increasing incidences of renal disorders across the globe. It is stupid that about 13.3 million cases of acute kidney injury are tracked each year and around 1.7 million deaths occurred due to it. This data was published by the International Society of nephrology in the year 2022. The increasing number of kidney failures or kidney diseases which are leading to the death of a large number of the population has greatly stimulated the demand for blood purification techniques and dialysis treatment across the globe. This technique helps in restoring the metabolism in blood and decreases the toxic content which is expected to drive the growth of the blood purification equipment market during the forecast period.
You put the increase in various kidney diseases and the surge in the geriatric population in America the demand for dialysis is higher in this region. North America is expected to hold a dominant position during the forecast period as there is great availability of varied technologically advanced equipment for critical care units, awareness about the flood certification process amongst the population, and uh health care system which is extremely well established in this region. The Pacific region also has a great opportunity for growth during the forecast period. This region provides opportunities for the growth of the blood purification equipment market as it has a large population with several chronic and lifestyle disorders.
Due to various chronic and lifestyle conditions like diabetes, hypertension, and autoimmune diseases Are all creating a demand for these equipment in many developing countries in the Asia Pacific region the demand for these devices is projected to grow in the coming years. D Asia Pacific region is expected to outgrow the American and the European countries. There are a large number of people with kidney-related disorders that are undiagnosed in this region.
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