Kidney Dialysis Equipment Market Highly Favorable To The Growth Rate By 2018 To 2026
Kidney dialysis is a procedure carried outside the body that removes the waste from the body and maintains the safe level of potassium, sodium, and other essential chemicals. Dialysis is referred to patients who are suffering from chronic kidney diseases (CKD), or are diagnosed with end stage renal disorder (ESRD). Dialysis is carried out in hospitals, at dialysis centers or, in some cases, even at home. The global kidney dialysis equipment market was valued at US$ 14,673.3 Mn in 2017 and is anticipated to reach nearly US$ 22,917.7 Mn by 2026, expanding at a CAGR of over 5% from 2018 to 2026.
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CKD is a major risk factor for cardiovascular disease, diabetes, hypertension, glomerulonephritis, and aging. CKD may lead to kidney injury and sometimes complete loss of kidney function, thus requiring renal replacement therapy. In 2017 on the occasion of World Kidney Day, a global awareness campaign, estimated that 10% of the worldwide population is affected by CKD. Increasing preference for dialysis over kidney replacement, technological advancements, and rising geriatric population are a few factors driving the global kidney dialysis equipment market. However, the high cost of dialysis, associated complications, and lack of reimbursement are a few factors restraining the global kidney dialysis equipment market.
The global kidney dialysis equipment market can be segmented according to product type, end-user and geography. In terms of product type, the global kidney dialysis equipment market can be classified into hemodialysis equipment and peritoneal dialysis. The hemodialysis equipment segment is further sub-segmented into hemodialysis machine, dialyzer, blood line systems and concentrators & solutions. The peritoneal dialysis equipment segment can be further split into peritoneal dialysis machine, concentrators & solutions, and catheters & tubing. In terms of end users, the global kidney dialysis equipment market can be segregated into in–center dialysis center and home care settings. Based on geography, the global kidney dialysis equipment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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According to product segment, the hemodialysis equipment segment dominated the global kidney dialysis equipment market, in terms of revenue. Furthermore, the dialyzers sub-segment dominated the hemodialysis equipment segment. Increasing rate of prevalence of terminal kidney failure patients drives the hemodialysis equipment segment. Moreover, increasing number of dialysis care centers from key players such as Fresenius Medical Care and Davita has made dialysis treatment available at a lower cost. The peritoneal dialysis segment contributes significantly to the expansion of the global kidney dialysis equipment market. According to NCBI reports, peritoneal dialysis is widely employed in countries such as the U.S., China, and Thailand; however, it is less preferred in Europe and Japan.
In terms of end-user, the global kidney dialysis equipment market is segmented into in – center dialysis center and home care settings. The in–center dialysis center segment dominated the global kidney dialysis equipment market, in terms of revenue, in 2017. Rising number of hospitals with the aim of providing all facilities under one roof and investments by key players, such as Fresenius Medical Care and DaVita, to acquire dialysis centers in order to provide optimum quality service are expected to drive the segment. Mistakes during dialysis procedure or development of any complications and lack of skill for administering the procedure are a few factors restraining the home care settings segment.
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Based on geography, the global kidney dialysis equipment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America and Europe, cumulatively, accounted for approximately 60% share of the market in 2017. Improved health care infrastructure and rising incidence of CKD and increasing awareness regarding treatment are estimated to drive the market in Europe and North America. Increasing incidence of CKD and ESRD in this North America and Europe is likely to drive the market in these regions. According to the National Institute of Diabetes and Digestive and Kidney Diseases, in 2016, there are more than 660,000 individuals suffering from chronic kidney diseases. The market in Asia Pacific is expected to expand at an exponential CAGR during the forecast period. Rise in technological innovation, investments by key players in this region, and increasing awareness about peritoneal dialysis are a few factors that are projected to boost the growth of market in this region.
Major players operating in the global kidney dialysis equipment market include Baxter International Inc., B. Braun Melsungen AG, Fresenius Kabi AG, NxStage Medical, Inc., Asahi Kasei Corporation, Nipro Corporation, Terumo Corporation, Rockwell Medical, Teleflex Incorporated, and HEMOCLEAN CO., LTD. These players adopt organic and in-organic growth strategies in order to expand their product offerings, strengthen geographical reach, increase customer base, and capture market share.
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