Global Dialysis Equipment Market: Demand Analysis and Growth Forecast
On the back of increasing prevalence of end-stage renal disease (ESRD), the dialysis facilities are mushrooming across the urban parts of the world and thereby, transforming the dialysis equipment market into a highly profitable healthcare segment, according to the findings of a latest research report by IndustryARC’s titled “Dialysis Equipment Market: By Treatment (Hemodialysis) Renal Products (Hemofilter) Types of Dialysis Membrane (Unmodified cellulose low-flux membranes) Application (Virus Purification) End Users (Hospitals) & Geography – Forecast (2019 - 2025)”. According to the report, in 2018, the global dialysis equipment market size was $14.4 billion, and the demand is projected to grow with the compound annual growth rate (CAGR) of 4.4% during the forecast period of 2019 to 2025. This report covers Dialysis Equipment Market Size by treatment and application, Dialysis Equipment Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Moreover, there has been an increasing demand for portable and cost-effective dialysis equipment in the market. In 2016, on the World Kidney Day, the world’s first low-cost dialysis was unveiled. This was executed because of the fact that, globally, millions of people die every year since they cannot afford the treatment for kidney failure. In 2018, the liberDi planned for the first-in-man trial of Small Peritoneal Dialysis Systems. It is an in-home dialysis treatment that improves the quality of life and reduces treatment cost and complications.
Global Dialysis Equipment Market: Leading Segment
North America accords the largest share for the dialysis equipment market owing to the increasing investments and expenditures made by the companies and the state governments in the healthcare sector. It has been observed that the dialysis equipment market has been gaining tremendous earnings due to huge technological advancement and development in the medical devices industry. North America had a regional share of 34% in 2018 which is more than one-fourth of the global contribution. Global dialysis equipment market is also driving the demand for hemodialysis devices application along with peritoneal dialysis. However, the application segment in hemodialysis devices is expected to grow at a CAGR of 3.5% during the forecast period of 2019 to 2025. According to the National Kidney Foundation there are nearly 500,000 patients with end-stage renal diseases (ESRD), who receive dialysis in the United States.
Global Dialysis Equipment Market: Disruptive Trends
Due to the increasing number of kidney patients in recent years, the need to improve technology and take initiatives has become imperative for the healthcare sector. A few of the trends boosting the dialysis market are listed below:
liberDi Creates a Smart Peritoneal Dialysis System
In order to avoid regular hectic visits to the hospital on a weekly basis, liberDi’s service is proven to be the best alternative, as it can be done at home in 20 minutes. It is the first-in-man clinical trial of its smart peritoneal dialysis systems. LiberDi’s initiative is poised to spawn a lot of players in the dialysis equipment market because this kind of facility makes a patient’s life easier, and therefore, it is very much in demand.
Wearable Artificial Kidney Approved By FDA
AWAK Technologies has recently announced that peritoneal dialysis device has been granted by the FDA. The company has named it as AWAK PD, and it is the world’s first wearable device. This device will let the patients suffering from ESRD to bypass hours of therapy with large machines and undergo dialysis on the go. This reduces the effective time of the process by many folds and has propitious prospects in the dialysis equipment market.
Scientific Kidney Tissue is Being Produced
Manchester University recently grew human kidney tissue that can easily produce urine. They had used embryonic stem cells, which make up parts of the organs, to grow Kidney Glomeruli.
Smartphones Being Used as Point-of-Care Diagnostics
A study done by the Frensenius Medical Care has recently developed a smartphone-based system, using the light sensor of a smartphone, to measure turbidity in peritoneal dialysis fluid. The advent of technology is also highly influencing the dialysis equipment market.
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Global Dialysis Equipment: Recent Developments
Some of the key companies identified in the report that are currently holding majority shares in the global dialysis equipment market are Baxter, Asahi Kasei Corporation, Fresenius Medical Care AG & Co. KGaA, Cantel Medical, Rockwell Medical, JMS Co. Ltd., Teleflex Incorporated, B. Braun Melsungen AG, NIPRO, HEMOCLEAN CO., LTD., Quanta, and Outset Medical Inc.
Related Reports:
A. Hemodialysis Catherter Market
https://www.industryarc.com/Research/Hemodialysis-Catheter-Market-Research-501832
B. Peritoneal Dialysis Market
https://www.industryarc.com/Report/16077/peritoneal-dialysis-market.html
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