Increasing Chronic Kidney diseases to underpin rise of Kidney Dialysis Equipment market in the near future
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Diabetes mellitus is considered as the most common cause of chronic kidney disease that may lead to increase in demand for kidney dialysis. According to Scottish Intercollegiate Guidelines Network, in 2008, the average prevalence has been reported at 11% in the U.S. and Europe that are excluding those on dialysis or with a functioning transplant. Growth of geriatric population is one of the major reasons expected to support growth of the kidney dialysis equipment market in the near future. Large number of people in their old age are more prone to suffer from kidney failure.
The global kidney dialysis equipment market was valued at US$ 13,930.3 Mn in 2015 and is expected to witness a robust CAGR of 6.6% during the forecast period (2016 – 2024).
Demographic Shift of major chunk of population towards increasing geriatric population
Elderly population are more prone to various disease due to diminished level of immunity and other co-morbid disease conditions. Diabetes mellitus is a very common disorder that is the initiator for various unwanted disease conditions. One of the most frequently arising condition is kidney failure. The unnoticed and improper care of the diabetic patient may lead to abnormal functioning of kidney and in severe cases total shut down of the organ. Kidney dialysis is a process in which an external machine acts as the kidney for the filtration of body fluids. Furthermore, the dialysis works on various sequential methods such as proper testing of vitals of the patient that is necessary for maintaining the appropriate glomerular filtration rate. Dialysis procedure helps in maintaining the proper standards of the body fluids and other important kidney functions such as waste removal, removal of extra water and salt to prevent them from building up in the body that ensure safe level of certain chemicals such as potassium, sodium and bicarbonate in the blood, which helps in controlling the blood pressure.
Demand for home care services is expected to be supported by single in-center machine for dialysis, which is portable in nature
A large number of people who daily require kidney dialysis procedure to be carried out for maintaining the level of vital fluids of the body. Since the condition is most prevalent among the geriatric population, their mobility is rather limited which decreases the number of hospital visits. Such situations can be controlled by the introduction of new portable single in-center dialysis machine, which can be useful for geriatric population. There are various major players working on developing portable dialysis machines that will provide ease of portability in the dialysis process. For instance, Fresenius Medical Care – dialysis machine manufacturer based in Germany – is the only company to introduce both in-center and home use dialysis machine, which is expected to favor the exponential growth in kidney dialysis equipment market in the near future.
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According to the Fresenius Medical Care, in 2011, three largest manufacturers of dialysis products contributed to around 65% of the global kidney dialysis equipment market in terms of revenue. Among which, market share of around 33% was contributed by Fresenius Medical Care, followed by Baxter and Gambro. Also, various aligned collaborations and acquisitions have made the market more consolidated, which in future is expected to be a source of high investment in the research and development that will lead to increase in product portfolio and reduction in prices for the already existing machines. For instance, in 2017, Fresenius Medical care has acquired 70% equity of the Kunming Wuhua Health Hospital (Wuhua Hospital) in China. This marks the company’s first joint venture in China for renal care services and chronic disease management.
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