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Global Wearable Artificial Kidney Market is Poised to Grow at a Robust Pace Due to Rising Incidences of Kidney Failure

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Poonam
Global Wearable Artificial Kidney Market is Poised to Grow at a Robust Pace Due to Rising Incidences of Kidney Failure

The global wearable artificial kidney market comprises medical devices that are worn externally and act as an artificial replacement for failed kidneys. Wearable artificial kidneys are attached outside the body and work to filter out metabolic waste from the bloodstream, regulate electrolyte and water balance, and enable adequate oxygenation. The devices provide an alternative for patients waiting for kidney transplantation or those who are not candidates for transplants. The demand for wearable artificial kidneys is driven by the growing prevalence of chronic kidney diseases and rising cases of kidney failure worldwide.

The Global wearable artificial kidney market is estimated to be valued at US$ 22.46 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the global wearable artificial kidney market are B. Braun SE, AWAK Technologies, Blood Purification Technologies Inc., Nextkidney, Triomed AB, SB-KAWASUMI LABORATORIES, INC., Asahi Kasei Medical Co., Ltd., Nanodialysis BV, Semperit AG Holding, KidneyX.

These players are focusing on new product launches, collaborations, and geographic expansion to capitalize on growth opportunities. Some of the key opportunities in the Global Wearable Artificial Kidney Market Trends  include increasing adoption in home healthcare settings and scope for technological advancements to develop next-generation wearable dialysis devices. On the global front, companies are expanding their presence across developing regions such as Asia Pacific and Latin America owing to improving healthcare infrastructure and rising disposable incomes in these regions.

Market drivers:

Rising incidence of end-stage renal disease (ESRD) along with growing geriatric population is a major factor fueling the demand for wearable artificial kidneys. According to statistics, over 2 million people die every year from kidney diseases worldwide. Further, shortage of donor organs for kidney transplantation is boosting the adoption of wearable artificial kidneys as an interim solution.

Market restraints:

High costs associated with wearable artificial kidneys and related treatments poses a major challenge to market growth. Limited scope of wearable devices in mimicking all functions of natural kidneys compared to implantable devices also restrains market expansion.


Segment Analysis

The Global Wearable Artificial Kidney market is dominated by miniaturized wearable models sub segment. The key reason is that wearable models are more convenient to use for patients as they don't need to regularly visit dialysis centers and can carry on with their daily activities. This provides independence to patients.

Global Analysis

North America dominates the wearable artificial kidney market globally. Major factors contributing to its leading position include presence of advanced healthcare infrastructure, high healthcare expenditure, and supportive reimbursement policies for renal disease treatment in the US and Canada. Asia Pacific is poised to be the fastest growing regional market. Rising incidence of kidney failure due to lifestyle diseases and improving access to advanced treatment modalities are driving market growth in countries like China and India.

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