Portland, OR, March 30, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Blood Purification Equipment Industry was pegged at $14.62 billion in 2019, and is expected to hit $23.93 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027.
Increase in prevalence of metabolic & immune disorders and rise in incidences of diabetes & hypertension fuel the growth of the global blood purification equipment market. On the other hand, health risks and high costs regarding blood purification equipment restrain the market growth. Moreover, changes in preference of patients for home hemodialysis (HDD) and advancements in blood purification techniques are expected to offer an array of opportunities in the coming years.
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Covid-19 Scenario:
- The outbreak of the pandemic led to disrupt the manufacturing activity of the blood purification equipment. The prolonged lockdown have further created challenges in raw material procurement, availability of skilled workers, and supply of machineries and consumables.
- During the post-lockdown, R&D activities to find innovative uses of blood purification in limiting transmission of coronavirus have increased. Many companies have been seeking emergency use authorization (EUA) from the U.S. Food & Drug Administration (FDA) to use this equipment throughout the treatment of Covid-infected patients.
- Many manufacturers have boosted the production of blood purification machines and systems to meet the unprecedented demands that may occur during the pandemic.
The global market is segmented on the basis of product type, indication, end user, and region. Based on product type, the portable segment held the highest market share with more than four-fifths of the global market in 2019, and is estimated to maintain its leadership status by the forecast period. In addition, this segment is expected to portray the largest CAGR of 5.7% from 2020 to 2027. The research also studies the stationary segment.
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Based on end user, the dialysis centers segment dominated with the largest market share in 2019, contributing to more than half of the global market in 2019, and is expected to maintain its lead position by 2027. Furthermore, this segment is estimated to portray the highest CAGR of 5.7% from 2020 to 2027. The report also involves the segments including hospitals & clinics and others.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2019, with more than two-fifths of the global market, and is expected to continue its leading position by 2027. In addition, the region is expected to witness the fastest CAGR of 6.1% during the forecast period. North America, Europe, and LAMEA are other regions involved in the report.
Key players profiled in this report include KGaA, Healthwell Medical Tech. Co., Ltd., Infomed SA, Jafron Biomedical Co., Ltd., Kaneka Corporation, Nikkiso Co, ltd. Asahi Kasei Corporation, B. Braun Melsungen AG, Baxter International Inc., Fresenius SE and Co. and SWS Medical Group.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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