Dialysis Market 2019-2025 : Share Forecasts, Regional Trends & Growth drivers
Some major findings of the dialysis market report include:
o The demand for dialysis treatment has grown significantly since past decade due to rising incidence of chronic kidney disorders as a result of changing lifestyle and consumption of addictive liquors
o Favorable reimbursement scenario for dialysis procedures and emphasis on upgradation and development of healthcare facilities in developing countries is expected to drive the industry growth
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o Government initiatives pertaining to affordable dialysis treatment for poor people will increase its adoption in developing countries such as India
o Major players operating in the market are B.Braun Melsungen, Baxter International, Fresenius Medical Care, Asahi Kasei, Medtronic, etc.
o Companies are focusing on delivering innovative solutions to enhance overall clinical outcomes and gain competitive edge over the rivals
Shortage of donor kidneys across the globe will prove beneficial for dialysis industry expansion. Kidney transplant is an efficient treatment option for people suffering from chronic kidney diseases.
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Despite of numerous advantages of kidney transplant, there is scarcity of kidney donors across the globe. Thus, adoption of dialysis as an effective alternative to kidney transplant has increased over the recent years. Dialysis aids in performing kidney functions such as elimination of salt, extra water and waste with an aim to control blood pressure in patients with kidney dysfunction. As a result, shortage of donor kidneys will surge the demand for dialysis treatment thereby, augmenting business growth during the forthcoming years.
Favorable reimbursement scenario for dialysis treatment in North America will serve to be a high impact rendering factor in the market expansion. Medical insurance providing companies such as Medicare and Medicaid in developed countries such as the U.S. and Canada focus their efforts on developing reimbursement for geriatric population suffering from chronic renal diseases. Thus, accessibility to affordable dialysis treatment will increase its adoption during the analysis period. Moreover, government is undertaking certain initiatives and funding decisions to upgrade the quality of equipment, consumables and devices utilized for dialysis treatment, thereby positively impacting kidney dialysis equipment business expansion.
Type segment is bifurcated into hemodialysis and peritoneal dialysis. Hemodialysis segment is anticipated to witness more than 3.5% CAGR during the forecast period. During hemodialysis, patient's blood is filtered through a dialyzer located outside the body, commonly termed as artificial kidney. Hemodialysis treatment help patients to live better quality life with a standard hemodialysis schedule that involves dialysis treatment only three times in a week. Such benefits offered by hemodialysis over peritoneal dialysis will foster segmental progress.
Product & service segment of dialysis market is further classified into equipment, consumables and services. Services segment accounted for over 70% revenue share in 2018 and will grow substantially over the coming years. Dialysis services are offered by hospital settings or dialysis centers to individuals or hospitalized patients suffering from end-stage renal disease or other kidney disorders. Growing demand for such services in developing as well as developed economies will drive industry progress over the coming years.
End-use segment is categorized into in-center dialysis and home dialysis. Home dialysis segment is anticipated to witness more than 4% CAGR over the analysis timeframe. Increasing patient preference towards dialysis services offered in homecare settings will prove beneficial for segment growth. Home dialysis has various advantages such as easy patient mobility, portability and flexible scheduling that should further upsurge its demand during the forecast period.
China dialysis market was valued around USD 5 billion in 2018 and it is projected to witness momentous growth in the foreseeable future. Growing prevalence of end-stage renal diseases, hypertension, diabetes and other kidney associated diseases have resulted in increased number of dialysis centers across China. Additionally, rising interest of industry players to proliferate their network in China will prove beneficial for business growth during the coming years.
Industry players operating in dialysis market are vigorously investing in R&D activities to develop technologically advanced, reliable and innovative equipment. Some of the notable market players include Toray, Kawasumi Laboratories, JMS, Asahi Kasei, Fresenius Medical Care, Medtronic, Baxter International and B. Braun. Competitors are implementing several strategies such as geographical expansions, product launches, acquisitions, mergers and joint ventures to garner higher market share and sustain competition. For instance, in February 2016, Medtronic acquired Bellco, a pioneer in hemodialysis treatment solutions. This acquisition enabled company to provide better quality solutions and strengthen company's revenue stream.
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