Sepsis Treatment Market: Introduction
According to the report, the global sepsis treatment market was valued over US$ 600 Mn in 2020 and is projected to expand at a moderate CAGR from 2021 to 2031. Sepsis is a life threatening disease caused when a chemical develops in the immune system and is released into the bloodstream. According to the Centers for Disease Control and Prevention, over 1.5 million cases of sepsis are reported globally each year. North America dominated the global sepsis treatment market in 2020, followed by Europe and Asia Pacific. Well-established healthcare and life science industries, early adoption of technologically advanced products, high awareness about various infectious as well as chronic diseases, and high per capita healthcare expenditure are the major factors attributed to North America’s high market share in 2020. The market in Asia Pacific is likely to expand at a high CAGR from 2021 to 2031 due to the expansion of the healthcare sector in countries such as China, Japan, and India. Moreover, an increase in sepsis cases in countries such as Japan, India, and China is projected to propel the market in the region during the forecast period.
Increase in Geriatric Population to Drive Market
The geriatric population is highly susceptible to chronic diseases and has weak immune systems. The geriatric population is prone to developing sepsis and is expected to increase the patient pool across the world, which, in turn, is projected to drive the global sepsis treatment market during the forecast period. According to United Nations University (UNU) estimates, the percentage of the world population above 65 years of age is anticipated to increase from 9% in 2010 to 16% by 2050. Increase in the population above 65 years of age asserts the need of safe and effective therapeutics for sepsis treatment. Therefore, rise in population of this group is a major driver of the market.
Rise in Novel Pipeline Drugs to Drive Global Market
There is a large patient population with unmet medical needs and the number is increasing across the globe. Leading pharmaceutical companies focus on addressing these unmet medical needs through new product development. A number of drugs for the treatment of sepsis is under different phases of clinical trial. Leading companies have made significant investments in clinical R&D, and have also established strategic partnerships and collaborations to accelerate new product development. Asahi Kasei Corporation’s ART-123 is currently in phase III clinical trial and is expected to launch in the first half of 2021.
Sepsis Treatment Market: Prominent Regions
In terms of region, the global sepsis treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global sepsis treatment market in 2020, followed by Europe and Asia Pacific. According to research, increase in geriatric population leads to rise in prevalence of atrial fibrillation and other cardiac diseases. This can be attributed to North America’s dominance of the global sepsis treatment market. The sepsis treatment market in Europe is anticipated to expand at a considerable CAGR from 2021 to 2031. The growth of the market in the region can be ascribed to rise in cases of sepsis, favorable government rules & regulations, and increase in investment in the R&D sector for the development of the biopharmaceutical industry.
According to the European Sepsis Alliance, over 3.4 million people experience sepsis in Europe per year; 700,000 of them do not survive, and one-third of the survivors succumb to it within a year. A number of patients face lifelong repercussions, such as additional physical, emotional, and cognitive difficulties.
Product Launch and Innovation by Key Players to Drive Global Market
The global sepsis treatment market is consolidated in terms of number of players. The market is dominated by key players with innovative product offerings, robust and strong geographic presence, and adoption of technological advancements in the market. Key players include Baxter International, Inc., Fresenius Medical Care AG & Co. KGaA, Nipro Corporation, Asahi Kasei, B. Braun Group, CytoSorbents Corporation, Medtronic plc, Nikkiso Co., Ltd., Medica SPA, Toray Industries, and Merck & Co., Inc.
In September 2017, Baxter completed the commercial launch of a new indication for the company’s oXiris set, which can presently be used to help eliminate extreme levels of cytokines, endotoxin, and other inflammatory mediators from a patient’s blood.
Global Sepsis Treatment Market: Segmentation
Sepsis Treatment Market, by Type
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