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Hemodialysis Market 2024 - Industry Size, Future Insights, Growth Drivers And Top Players
Hemodialysis Market
According to The Business Research Company's, The hemodialysis market size has grown strongly in recent years. It will grow from $89.87 billion in 2023 to $94.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to rising incidence of chronic kidney disease (ckd), growing awareness of renal health, government initiatives for renal care, global expansion of dialysis centers, lifestyle-related factors.
The hemodialysis market size is expected to see strong growth in the next few years. It will grow to $117.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing healthcare expenditure, telehealth integration in renal care, regulatory support for home hemodialysis, focus on personalized medicine in nephrology, global health crisis preparedness. Major trends in the forecast period include minimally invasive procedures, technological advancements, patient-friendly devices, integration with imaging and diagnostics, customized treatment approaches.
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Market Drivers and Trends:
The increasing prevalence of diabetes and kidney failure will boost the hemodialysis market. Diabetes and kidney failure are two related medical conditions that can affect the body's ability to maintain healthy blood glucose levels and filter waste products from the blood, respectively. As more people are diagnosed with these conditions, there will be a greater demand for hemodialysis treatment, as it helps cleanse the blood of wastes and extra fluid when the kidneys stop functioning normally. Furthermore, the advantages of early detection and treatment of kidney disease will likely increase demand for hemodialysis. For instance, in September 2021, according to a report from the United States Renal Data System (USRDS), a US-based national data system, nearly 786,000 people in the United States have ESKD, also known as end-stage renal disease (ESRD), with 71% on dialysis and 29% receiving a kidney transplant. Therefore, the increasing prevalence of diabetes and kidney failure will drive the hemodialysis market forward.
Technological advancements are a key trend gaining popularity in the hemodialysis market. Major companies operating in the hemodialysis market are focused on developing innovative technologies to sustain their position in the market. For instance, in August 2022, Fresenius Medical Care AG & Co. KGaA, a Germany-based healthcare company, launched the Speedswap, a new option for the NxStage System One with NxView that enables the changing of a flow-compromised dialysis filter without replacing the entire cartridge. This system reduces therapy downtime, eases nursing workloads, and lowers treatment costs in acute care settings. It features Pressure Oscillating Diaphragm (POD) Technology to eliminate the blood-air interface and reduce the risk of filter clotting and related therapy interruptions.
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Major Key Players of the Market:
Asahi Kasei Corporation; B. Braun Melsungen AG; Baxter International Inc.; DaVita Inc.; Fresenius Medical Care AG & Co. KGaA; Nikkiso Co. Ltd.; Nipro Corporation; NxStage Medical Inc.; Cantel Medical Corp.; Diaverum; Becton Dickinson And Company; Toray Medical Co. Ltd.; Outset Medical Inc.; Quanta Dialysis Technologies; Allmed Medical Care Corporation; AngioDynamics LLC; Rockwell Medical Inc.; Medivators Inc.; Medtronic Plc; Gambro AB; Hemoclean Co. Ltd.; JMS Co. Ltd.; Kawasumi Laboratories Inc.; Medcomp; Medline Industries Inc.; Merit Medical Systems Inc.; Poly Medicure Ltd.; Renax Biomedical Tech. Co. Ltd.; Teleflex Inc.; Terumo Corporation; Thermo Fisher Scientific Inc.; W. L. Gore & Associates Inc.; Argon Medical Devices Inc.; Boston Scientific Corporation; Cook Medical Inc.
Hemodialysis Market 2024 Key Insights:
• The hemodialysis market will grow to $117.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• Rising Diabetes And Kidney Failure Cases Propel Demand For Hemodialysis Treatment
• Speedswap Technology For Enhanced Efficiency In Hemodialysis Treatment
• North America was the largest region in the hemodialysis market in 2023
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