Blood Purification Equipment Market Update: Exceeding Expectations of Key Players That Shows Promising Future
Seattle, WA -- (SBWIRE) -- 11/15/2019 -- Technological advancements in blood purification equipment will positively influence industry growth during the analysis period. Key industry players constantly focus on introducing innovations within the blood purification equipment. For instance, companies such as NxStage and Jafron have developed several blood purification devices that have reduced the mortality rate in patients suffering from acute kidney failure. Recently commercialized blood purification devices are extremely sensitive and enable comprehensive monitoring. Additionally, these advanced blood purification devices are affordable and portable. Thus, aforementioned factors propel segment growth.
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Scope of the Report:
North America is the largest consumption place, with a consumption market share nearly 43.6% in 2017. Following North America, Europe is the second largest consumption place with the consumption market share of 20.97%.
Market competition is intense. Fresenius, Nikkiso, B.Braun and Baxter are the leaders of the industry, and they hold key technologies and patents, with high-end customers; have been formed in the monopoly position in the industry.
The worldwide market for Blood Purification Equipment is expected to grow at a CAGR of roughly 3.0% over the next five years, will reach 1320 million US$ in 2024, from 1110 million US$ in 2019, according to a new WMR study.
Portable blood purification equipment segment will have considerable revenue share in 2018 and is expected to foresee similar trends in upcoming years. Portable equipment are mostly preferred by professionals during continuous blood purification process. Portability of equipment allows efficient treatment in emergency cases. Also, portable devices are sort of compact and occupy minimum space that further escalates its adoption during blood purification process.
Clinics segment will witness immense growth during the analysis timeframe. Clinics are well-equipped with advanced medical devices and equipment. Blood purification services delivered by clinics assure faster patient recovery as these clinics are accredited to international standards. Therefore, people suffering from renal failures usually prefer blood purification from clinics that should propel the business growth.
North America blood purification equipment market is estimated to grow substantially in upcoming years. Favorable demographic trends such as rising geriatric population positively impacts the demand for blood purification equipment. Majority of the elderly people suffer from chronic renal diseases that proves beneficial for industry growth. Furthermore, positive regulatory scenario for blood purification equipment triggers the regional market growth.
Fresenius, Nikkiso, B.Braun, Baxter, Asahi Kasei, Nipro, WEGO, Toray, Nxstage, Medtronic (Bellco), JMS, SWS Hemodialysis Care
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