Press release
Renal Dialysis Market Expected To Attract Strong Growth Owing To Rise in Renal Diseases and Concurrent Risk Factors Till 2023
Renal Dialysis Market Scenario:Renal dialysis involves the artificial elimination of toxic substance generated by the body in case of impaired function of kidney or completes failure. The Global Renal Dialysis Market is estimated to grow at a CAGR of 7.1 % during the review period of 2016 to 2023.
Market Dynamics:
Drivers
The growing incidence of kidney diseases and the concurrent growth of risk factors such as diabetes, hypertension, and alcoholism is the prime driver of the market. Demographic drivers such as the growing geriatric population is generating greater demand as older people are more susceptible to renal diseases. The World Health Organization estimates that, India’s proportion of the population older than 60 years of age is anticipated to rise to 19 % by 2050. Further the U.S. renal data system annual data report estimates that more than 660,000 people suffers from end stage renal disease with an estimated 468,000 currently on dialysis.
The growing number of renal dialysis facilities and reimbursements are creating greater demand for the growth of the market. The National Kidney Foundation estimates that there are approximately 6,479 dialysis facilities in the U.S. in 2016. The huge expenditure on renal diseases is reflected by the fact that the annual Medicare spending for kidney failure in U.S. is greater than USD 33 billion in 2016. Thus presence of a large market is easily comprehendible even by a layman.
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Restraints
The prohibitive cost of treatment and complication such as bleeding, trauma, and risk to life resulting from the treatment are prime restraints of the market. The U.S. Renal Data System, estimates the costs of one year hemodialysis to a maximum of USD 72,000, and for peritoneal dialysis to be about USD 53,000.
Scarcity of trained professionals and poor healthcare penetration in the developing regions is another serious constraint to be dealt with.
Segmentation:
To generate a detailed understanding of the market across the report has been segmented on basis of types, products, end user and regions.
Types - primary dialysis and secondary dialysis. Primary dialysis is further trifurcated into hemodialysis, hemofiltration and peritoneal dialysis. Secondary dialysis is further bifurcated into hemodiafiltration and intestinal dialysis
Product - hemodialysis products and peritoneal dialysis products.
End user - hospital care and home care.
Regions - North America, Europe, Asia Pacific and Middle East and Africa.
Regional Analysis:
North America led by the U.S. commands the largest market share of the global renal dialysis market owing to large healthcare expenditure, presence of specialty hospitals, excellent reimbursement rates for renal dialysis treatment and others.
Europe led by Germany, France and U.K. secured the second position owing to developed healthcare infrastructure and large income. The advanced medical devices industry of Germany is another determinant for the dominance of Europe.
Asia Pacific is expected to be the fastest growing market led by Japan China, India and South Korea. Middle East and Africa are expected to generate moderate growth skewed in favor of Gulf economies of Saudi Arabia, UAE, and others owing to their expansion of healthcare infrastructure and large public expenditure on healthcare.
Major Players for Global Renal Dialysis Market:
The leading players in the market are Nikkiso Co. Ltd., DaVita Healthcare Partners Inc., Asahi Kasei Corporation, B. Braun Melsungen AG, Covidien, Diaverum Deutschland GmbH, Fresenius Medical Care, Medical Care AG & Co., Gambro AB, Baxter International Inc., Nipro diagnostic Inc., NxStage Medical, Inc. and others.
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