Artificial Kidney Market Trends 2023 Growth Opportunities And Regional Forecast by 2030
Artificial kidney market insights and analysis by type and dialysis - forecast till 2030. The global artificial kidney market is likely to touch USD 5477.32 million at a whopping 60.33% CAGR between 2022- 2030, according to the recent report by Market Research Future (MRFR). Simply explained, an artificial kidney is a portable gadget with cutting-edge technology that enables people to receive dialysis support whenever and wherever they need it. It simulates the operation of a genuine kidney, perhaps doing away with the need for dialysis. When a patient's kidney is severely injured or not functioning at all, this artificial kidney assists in providing them with continuous blood filtration. It lessens hospital visits for dialysis and helps to fill the scarcity of kidney donors required for transplants.
Various factors are adding to the global artificial kidney market growth. Such factors, according to the new MRFR report, include surging demand for devices that are technologically advanced, rising prevalence of kidney disease, increasing research & development activities, and low availability of kidney donors.
Contrarily, the enormous size, immobility, and engineering problems with the device may restrain the artificial kidney market's expansion during the anticipated time frame.
Key Players
Key players profiled in the global artificial kidney market report include AWAK Technologies Pte.Ltd (Singapore), Asahi Kasei Medical Vo., Ltd, Kawasumi Laboratories, Inc. (Japan). Triomed AB. (Sweden), and Blood Purification Technologies Inc. Industry players have encompassed several strategies to stay ahead in the competition and also cater to consumers growing needs such as partnerships, joint ventures and collaborations, geographic expansions, extensive R&D activities, contracts, new product development, and contracts.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global artificial kidney market trends based on dialysis and type.
By type, the global artificial kidney market is segmented into an implantable artificial kidney & wearable artificial kidney. Of these, the wearable artificial kidney segment will lead the market over the forecast period for the technical benefits of artificial organs coupled with the rising patient population having renal failure.
By dialysis, the global artificial kidney market is segmented into combination, hemodialysis, and peritoneal dialysis. Of these, hemodialysis will dominate the market over the forecast period.
Regional Analysis
Based on the region, the artificial kidney market covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will dominate the market over the forecast period. Factors boosting the artificial kidney market growth in the region include a huge patient population having kidney disease, increasing R&D by different private and public organizations, and the presence of several medical device companies. Besides, the rising prevalence of chronic kidney diseases is also adding market growth in the region.
The artificial kidney market in Europe is predicted to hold the second-largest share over the forecast period. Factors boosting the artificial kidney market growth in the region include the rising standards for treating chronic kidney disease, burgeoning demand for procedures that are minimally invasive, and increasing use of devices that are technologically advanced. Besides, the growing geriatric population and innovations in medicine and technology are also adding market growth in this region.
The artificial kidney market in the APAC region is predicted to grow at a fast pace over the forecast period for increasing opportunities for key players for investing in the region, rising investments by government bodies, increase in disposable income, and rising prevalence of renal failure cases. Besides, the large target population in India & China is also adding market growth in the region.
Over the projection period, the MEA artificial kidney market is anticipated to have the smallest share. However, expanding markets and raising patient knowledge of the advantages of artificial kidneys are likely to present significant prospects in the future.
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