Global Kidney Dialysis Equipment Market is Estimated to Witness High Growth Owing to Technological Advancements and Increasing Prevalence of Chronic Kidney Diseases
The global Kidney Dialysis Equipment Market is estimated to be valued at USD 20.12 billion in 2023 and is expected to exhibit a CAGR of 5.50% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
The global Kidney Dialysis Equipment Market refers to the medical equipment used for kidney dialysis, which is a life-saving treatment for individuals with end-stage renal disease (ESRD) or chronic kidney disease (CKD). Kidney dialysis equipment includes hemodialysis machines, peritoneal dialysis machines, dialyzers, dialysis accessories, and services.
Kidney dialysis equipment provides an artificial replacement for lost kidney function by removing waste, salt, and extra water from the body, as well as maintaining the balance of minerals in the blood. This treatment helps in managing the symptoms of kidney failure and improves the quality of life for patients.
B) Market Dynamics:
The Kidney Dialysis Equipment Market is driven by two major factors: technological advancements and the increasing prevalence of chronic kidney diseases.
1. Technological Advancements:
Technological advancements in kidney dialysis equipment have significantly improved the efficiency, safety, and convenience of dialysis treatment. For instance, the introduction of high-flux dialyzers has led to better clearance of toxins from the blood, reducing the duration and frequency of dialysis sessions. Additionally, portable and wearable dialysis machines have emerged, providing greater freedom and flexibility to patients, enabling them to perform dialysis at home or even on the go.
2. Increasing Prevalence of Chronic Kidney Diseases:
The increasing prevalence of chronic kidney diseases, primarily driven by rising diabetes and hypertension cases, is fueling the demand for kidney dialysis equipment. According to the National Kidney Foundation, around 10% of the global population suffers from chronic kidney diseases. In the United States alone, more than 37 million adults are estimated to have kidney disease, and over 726,000 people have ESRD.
C) Segment Analysis:
Among the Kidney Dialysis Equipment Market Segmentation the hemodialysis machines segment is expected to dominate, owing to the high demand for these machines in hospitals and dialysis centers. Hemodialysis is the most common form of kidney dialysis treatment, where blood is filtered using a dialyzer outside the body. The dominant position of hemodialysis machines can be attributed to their efficient removal of waste products and toxic substances from the blood.
D) PEST Analysis:
Political: Government initiatives and policies promoting dialysis treatment, reimbursement policies, and healthcare infrastructure play a crucial role in the adoption of kidney dialysis equipment.
Economic: Economic factors such as increasing healthcare expenditure and disposable income levels of individuals drive the growth of the Kidney Dialysis Equipment Market.
Social: The rising incidence of chronic kidney diseases, aging population, and growing awareness about kidney health contribute to market growth.
Technological: Technological advancements in kidney dialysis equipment, such as wearable devices and telehealth solutions, improve patient convenience and treatment outcomes.
E) Key Takeaways:
- The global Kidney Dialysis Equipment Market is expected to witness high growth, exhibiting a CAGR of 5.50% over the forecast period, due to increasing technological advancements and the rising prevalence of chronic kidney diseases.
- North America is expected to dominate the market due to the presence of advanced healthcare infrastructure, high healthcare expenditure, and a large patient pool.
- Key players operating in the global Kidney Dialysis Equipment Market include Fresenius Medical Care AG & Co, Baxter International, Inc., Nipro Corporation, B. Braun Melsungen AG, Nikkiso Co, Ltd., Asahi Kasei Corporation, NxStage Medical, Inc., Guangdong Biolight Meditech Co., Ltd, Dialife SA, and DaVita Inc. These players focus on strategies such as mergers and acquisitions, partnerships, and new product launches to strengthen their market position and expand their product portfolios.
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