Artificial Kidney Market Huge Growth in Future Scope 2023-2030 | Blood Purification Technologies Inc

The Artificial Kidney Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Artificial kidneys, also known as dialysis machines, help filter out waste and excess fluid from the blood of patients with impaired kidney functions. They are life-saving medical devices used by people suffering from kidney failure and end-stage renal diseases.

Market Dynamics:

The global artificial kidney market is expected to grow exponentially during the forecast period, owing to the rise in the prevalence of chronic kidney diseases and end-stage renal diseases. According to data by the National Kidney Foundation, over 37 million Americans suffer from kidney diseases currently. Moreover, increasing risk factors such as diabetes, hypertension, and aging population are further driving the number of cases. Additionally, technological advancements in artificial kidney designs aim to provide more freedom to patients by reducing dialysis time which is propelling market growth. However, the high cost of these devices remains a major challenge.

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Market Trend:

One of the important technological trends in artificial kidney field is the ongoing miniaturization of device components and systems. Researchers are working towards developing fully implantable portable artificial kidneys that can be worn discreetly by patients. Some novel prototype designs encompass miniaturized hemodialysis cartridges and hollow fiber membrane technology. If successful, such miniaturized artificial kidneys will eliminate the need for patients to be physically attached to bulky dialysis machines multiple times a week. Instead, continuous therapy can be provided conveniently via implanted systems. This ongoing trend has potential to significantly improve quality of life for those dependent on renal replacement and make implants a more acceptable solution.

Competitive Landscape

In the segment specifically devoted to leading companies in the Artificial Kidney Market of the market analysis document, our researchers provide a summary of the financial statements of all the major companies, covering their noteworthy developments, product benchmarking, and SWOT analysis. The corporate profile copy also includes financial information and a business summary. The businesses in this area can be customized to match the unique needs of the client.

Some of the Top Players in Artificial Kidney Market:

Blood Purification Technologies Inc. and Others

Artificial Kidney Market Taxonomy:

The global artificial kidney market is segmented on the basis of device type, end user, and region

By Device Type-
Wearable Artificial Kidney
Implantable Artificial Kidney

By End Users-
Hospitals
Speciality Clinics
Ambulatory Surgical Centers
Others

Regional Analysis -

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
Latin America (Colombia, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Market Driver:

The increasing prevalence of chronic kidney diseases such as diabetes, hypertension and glomerulonephritis across the globe is one of the major factors driving the growth of artificial kidney market. As per estimates by Nephrology Disease Network, around 31 million people in the US alone suffer from chronic kidney disease. These chronic diseases damage the kidneys over a long period of time and eventually lead to kidney failure. Artificial kidneys can effectively replace the functions of damaged kidneys, thereby reducing the burden of end stage renal disease.

Market Restraint:

Despite the life saving benefits, the high cost of acquiring and maintaining an artificial kidney limits its widespread adoption, especially in developing and underdeveloped economies. The device itself has a price tag of over USD 250,000 and each replacement therapy costs upwards of USD 80,000 per year. Further, the patient needs to be monitored closely during and after therapy which increases the financial burden. The recurring expenses pose significant barrier for those lacking proper health insurance or adequate funds. This cost factor acts as a major market restraint for artificial kidney.

Market Opportunity:

The continuing organ shortage globally has led to emergence of transplant tourism industry where people travel to other countries for affordable organ transplantation. This growing practice indicates the widespread need for alternative organ replacement therapies. It presents significant opportunity for artificial kidney developers to tap into new overseas markets and expand their customer base. With further technological advancements to reduce costs, artificial kidneys can become a viable replacement for those seeking organ transplantations abroad. This will help address the massive unmet clinical demand to an extent.

Reasons to Purchase this Report:

✔ Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
✔ Reports provide opportunities and threats faced by suppliers in the Artificial Kidney industry around the world.
✔ The report shows regions and sectors with the fastest growth potential.
✔A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
✔ The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
✔ This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

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Questions Answered by the Report:

(1) Which are the dominant players of the Artificial Kidney Market?
(2) What will be the size of the Artificial Kidney Market in the coming years?
(3) Which segment will lead the Artificial Kidney Market?
(4) How will the market development trends change in the next five years?
(5) What is the nature of the competitive landscape of the Artificial Kidney Market?
(6) What are the go-to strategies adopted in the Artificial Kidney Market?

Table of Contents

Chapter 1 Market Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Market Size Analysis from 2023 to 2030

Chapter 2 Competition by Types, Applications, and Top Regions and Countries
2.1 Market (Volume and Value) by Type
2.3 Market (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Worldwide Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Artificial Kidney Sales, Consumption, Export, Import by Regions (2023-2023)
Chapter 5 North America Market Analysis
Chapter 6 Europe Market Analysis
Chapter 7 Middle East and Africa Market Analysis
Chapter 8 Asia Pacific Market Analysis
Chapter 9 Latin America Market Analysis
Chapter 10 Company Profiles and Key Figures in Artificial Kidney Business
Chapter 11 Market Forecast (2023-2030)
Chapter 12 Conclusions

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.