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Dialysis Products and Services Market to Reach US$115.4 bn by 2020
Increasing Prevalence of Diabetes a High-impact Driver for Dialysis Products and Services Market
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The increasing prevalence of diabetes across the world is the most important factor driving the demand for dialysis products and services. Complications from diabetes often result in renal failure, which necessitate the use of dialysis products and services; diabetes is one of the leading causes of end-stage renal disease. The high prevalence of diabetes in the populous Asia Pacific market thus presents an opportunity for the dialysis products and services market.
The increasing geriatric population around the world is another leading contributor to the increasing demand for dialysis products and services. Several bodily systems start to degenerate with aging, and renal failure or ailments are common among the elderly. Many elderly patients also prefer dialysis services over kidney transplants, which has also driven the demand for dialysis products and services.
Government Support Could Erode Revenues of Players
Due to the increasing need for dialysis products and services, several governments have increased their reimbursement support to the process in recent years. This has made dialysis products and services easier to avail for an increasing part of the global population. In the promising Asia Pacific market, Japan and South Korea are among the leading providers of reimbursement for dialysis products and services.
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The overall increase in the government support to the healthcare sector in emerging economies is likely to make dialysis products and services cheaper and more easily accessible in the coming years.
Hemodialysis Products and Services to Retain Dominance
Of the two types of dialysis, hemodialysis and peritoneal dialysis, the former is set to continue its dominance in the global dialysis products and services market in the coming years. By service type, in-center dialysis is more popular than home-based dialysis, while geographically, North America is the leading contributor to the global dialysis products and services market. In the coming years, developing economies such as India, China, Brazil, and South Korea are likely to be important for the global dialysis products and services market.
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The global dialysis products and services market is estimated to be valued at US$115.4 bn by 2020. The information presented in this review is based on a Transparency Market Research report, titled, ‘Dialysis Products and Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.’
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