FDA authorization for blood purification device for the COVID-19 treatment will boost the blood purification equipment market, forecast to touch US$ 8.3 Bn by 2025 at a CAGR of 4.6%
Noida,Uttar Pradesh, India,Mar 31 2021 (WiredRelease) Report Ocean Pvt Ltd–:Executing government regulations, discovering new diagnostics and medical treatment devices, and rising chronic diseases, such as kidney diseases, CVD, and cancer, are the primary factors for its growth. Following these promising developments, the Global Blood Purification Equipment Market is estimated to see healthy growth, pegged at a CAGR of around 4.6% throughout the forecast period 2020-2025. Moreover, the COVID-19 outbreak has spurred the demand for blood purification equipment across the globe. This growth is further supported by the FDA authorization received for the blood purification devices to treat COVID-19. The US FDA issued an emergency use authorization for a blood purification device to treat COVID-19 patients aged 18 years and above and admitted to the intensive care unit (ICU) with confirmed or imminent respiratory failure. The FDA released this emergency use authorization to Marker Therapeutics AG and Terumo BCT Inc. for their Depuro D2000 Adsorption Cartridge devices and Spectra Optia Apheresis System, respectively.
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The blood purification devices are expected to be effective for the treatment of certain patients that are confirmed with COVID-19 by reducing various cytokines, pathogens, and other inflammatory mediators, including small active proteins in the bloodstream that manages a cell’s immune response by filtering the blood and reverting the filtered blood to the patient. The removed proteins are typically raised during infections. They can be associated with a “cytokine storm” that may occur in some COVID-19 patients, possibly leading to severe inflammation, swiftly progressive shock, organ failure, respiratory failure, and mortalities across the globe.
Through the authorization of blood purification devices, the FDA has planned to work across all sectors to accelerate the development of several innovative possible preventive and treatment approaches by both simplifying emergency access for patients and supporting the evaluation of potential therapies. With the approval of a blood purification device, the FDA expedites the accessibility of a treatment option for patients in the ICU to aid in reducing the severity of the disease. Considering the continuously rising COVID-19 cases globally, the demand for blood purification equipment will increase in 2020 and subsequent years. Therefore, significant growth can be expected in the blood purification equipment market across the globe post the COVID-19 pandemic.
Segmentation Overview of the Global Blood Purification Equipment Market
The blood purification equipment market is segmented based on the technology, application, and end user. These major market segments are further categorized into various sub-segments to study the market in detail.
By Product Outlook (Continuous Renal Replacement Therapy (CRRT) Device, Hemoperfusion Device, Plasma Exchange Device, Hemodialysis Device, Others)
By Application Outlook (Sepsis, Renal Diseases, and Others)
By End User Outlook (Dialysis Centre, Hospitals, Others)
Key Players Insights
Accel Diagnostics, Circle Biologics, CytoSorbents, Aethlon Medical, Cerus Company, Jafron, Medtronic, Spectral Medical, NxStage Medical, Stellarray, and Toray Medica among others, are some significant players included in the research study of the global blood purification equipment market.
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