Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWS· On May 30, 2019, Jafron Biomedical Co. attended a conference at the Vicenzia convention where it organized the “2019 Jafron International Adsorption” satellite meeting. Several tests were conducted on the Jafron hemoperfusion cartridge which showed that it was safe and had good hemodynamics.
· In December, 2017, Spectral Medical announced that it received FDA approval for its Spectral Apheresis Machine (SAM) which was developed in order to support the company’s Toraymyxin or PMX therapy and prevent the risk of septic shock in patients.
Hemoperfusion Production Market Overview
Hemoperfusion is a form of medical treatment in which the patient’s blood is passed through an adsorbent material in order to filter the blood. The toxic substances present in the blood are adsorbed by such materials and the clean blood is passed into the patient’s body again. This technique is mainly used in various emergency situations such as to remove drugs and poisons that are toxic for the kidneys from the blood and to remove certain waste products in cases of kidney disorders.
Market Size and Forecast
The hemoperfusion production market is anticipated to record a significant CAGR over the forecast period, i.e., 2019-2027. The market is segmented by adsorption, by application and by region, out of which, the adsorption segment is further bifurcated into charcoal hemoperfusion and resin hemoperfusion. The charcoal segment is anticipated to hold the largest share in the market and witness a substantial growth during the forecast period as activated charcoal has a high affinity for water soluble molecules. On the other hand, resin hemoperfusion have a high affinity for lipid soluble molecules, however, the low availability of resin columns for hemoperfusion is estimated to limit the growth of this segment in the market. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of application, the market is segmented into hepatic failure, autoimmune diseases, intoxications and others. Intoxication in the form of drug overdose has witnessed a sudden incline in the past decade. As per National Institute on Drug Abuse, the deaths resulting from drug overdose in the United States were found out to be 36,010 in 2007 and increased to 70,237 in 2017. The rising number of drug overdose deaths give rise to the demand for hemoperfusion treatment methods, which is further estimated to increase the demand for this segment in the upcoming years.
Growth Drivers
Growing Blood-Related Disorders to Drive the Market Growth
The rising number of blood and blood-related disorders is anticipated to raise the demand for hemoperfusion technique so as to remove the toxic and other waste materials from the blood. Further, improper functioning of the kidney is another factor estimated to result in the growth of the market on account of high demand for hemoperfusion treatment methods. For instance, sepsis is a condition that occurs when an infection spreads to the body through the bloodstream. According to WHO, Sepsis was estimated to affect more than 30 million people globally every year, potentially resulting in 6 million deaths, mainly in low and middle-income countries. The growing incidences of sepsis and other such conditions is estimated to result in the market growth.
Rising Healthcare Expenditure to Support the Market Growth
The World Development Indicators by WHO reported that the health expenditure in the United States was 17.07% of the GDP in 2016, whereas it was 11.13% in Germany, 10.92% in Japan and 10.53% in Canada. The development of new and improved medical treatments is leading to a higher spending on healthcare by people, which is therefore anticipated to result in the growth of hemoperfusion production market.
Restraints
Health Risks Associated with Hemoperfusion to Hamper the Market Growth
The various risks associated with hemoperfusion technique such as blood infection, clotting of blood, damage to blood platelets and decrease in blood pressure are estimated to restrict the market growth. Further, at times, the hemoperfusion equipment may fail during the treatment process, which further contributes towards these risks.
Market Segmentation
Our in-depth analysis of the hemoperfusion production market includes the following segments:
By Adsorption
By Application
By Region
On the basis of regional analysis, the hemoperfusion production market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market for hemoperfusion production in North America is anticipated to hold the largest share in the market on account of rising healthcare spending in the region as well the growing presence of leading market players, especially in the United States. However, the highest growth is estimated to be observed by the market in Asia-Pacific region as a result of rapidly growing healthcare infrastructure and medical industry in the region. Moreover, the rising awareness about improvements in the healthcare sector and the various treatment methods available among the population in this region is anticipated to become an added growth driver for the market. Furthermore, the market in Europe is estimated to observe significant growth during the forecast period on account of growing healthcare expenditure and increasing demand for better treatment methods available for various disorders.
The hemoperfusion production market is further classified on the basis of region as follows:
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