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The kidney dialysis market is projected to grow at a CAGR of 6.5% through 2024.
NEW YORK, UNITED STATES, June 16, 2022 /EINPresswire.com/ — The Kidney Dialysis Equipment Market is likely to grow immensely, i.e. reach US$ 25.128 Bn at a CAGR of 6.5%. Physical health apps are gaining popularity. They are inclusive of calorie trackers, step-counters, and exercise and nutrition-based apps. These apps are to be at the forefront with regards to capitalizing on those having chronic ailments like high blood pressure, heart diseases, or diabetes. This would be a significant arm of the healthcare industry.
Persistence Market Research’s recent report on “Global Market Study on Kidney Dialysis Equipment: Latin America Expected to Emerge the Third Attractive Regional Market ” forecasts the market revenues to reach US$ 25.128 Bn by 2024 end. The kidney dialysis market is projected to grow at a CAGR of 6.5% through 2024.
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Fresenius Medical Care AG & Co. (KGaA Fresenius SE & Co. KGaA)
Baxter International, Inc.
B. Braun Melsungen
Nikkiso Co, Ltd.
NxStage Medical, Inc.
Increasing Prevalence of Chronic Kidney Disease and Adoption of Technologically Advanced Products Spurring Demand
The preponderance of chronic kidney disease (CKD), aggravated by geriatric population and rising life expectancy, will continue to spur the demand for hemodialysis therapy. Expanding ESRD patient pool is another factor influencing market growth. Favorable government initiatives and rising healthcare funding to increase awareness about therapeutic modalities are also anticipated to boost equipment sales during the forecast period. The introduction of technologically advanced and user-friendly dialysis equipment and adoption of renal dialysis over kidney transplantation are key trends impacting the market.
“Manufacturers will discover lucrative opportunities in pediatric dialysis. In addition, rising demand for cost-effective equipment in low and middle-income countries will also present multiple revenue generation channels”.
– Analyst, Life Sciences & Transformational Health, Persistence Market Research
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Asia Pacific will Remain at the Forefront of Global Demand for Kidney Dialysis Equipment
Asia Pacific will remain the largest and the fastest growing market for kidney dialysis equipment throughout the projected period. Valued at US$ 4.57 Bn currently, the market in APAC is foreseen to surpass US$ 9.0 Bn by the end of 2024, accounting for over 38% market value share. North America, Europe, and Latin America will be the other key markets globally. While APAC is expected to thrive at a CAGR of 9.9%, MEA, and Latin America will remain the other fast-growing markets globally.
By equipment type, hemodialysis equipment will continue to outsell peritoneal dialysis equipment during the assessed period.
Hemodialysis equipment will capture over 88% market share in 2016 but is anticipated to lose nearly 100 BPS over the next eight-year period.
Dialyzers are expected to witness the fastest growth during 2016-2024
Peritoneal dialysis segment will gain 100 BPS through 2024, reaching a market share of over 12% by 2024
Within peritoneal dialysis equipment segment, the peritoneal dialysis machine sub-segment will account for highest sales.
The end-user analysis by Persistence Market Research reflects the emergence of home-care settings as a critical end-user.
In-center dialysis segment will witness a slight decline in its revenue share; by 2024, this segment is projected to account for 85% share of the overall end-use segment
Demand for kidney dialysis equipment from home care settings will grow at a higher CAGR than in-center dialysis
Rapid adoption of home dialysis is indicative of a paradigm shift in end-use demand
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Kidney Dialysis Equipment Marketplace Will Remain Dynamically Competitive
Fresenius Medical Care AG & Co. KGaA, Baxter International Inc., NIPRO Medical Corporation, B. Braun Melsungen AG, and NIKKISO CO., LTD. are the leading players in the kidney dialysis equipment market. Manufacturers are largely concentrating on development of cost-effective dialysis equipment and expanding revenue shares in regional markets; empowering the supply chain in developing countries is expected to gain traction among key players. Notable activity in the kidney dialysis equipment includes:
NxStage will launch three new systems within the next few years. NIKKISO CO., LTD. has expansion plans in China and overseas
Fresenius is extending its international product offerings through introduction of new dialysis equipment
Braun wins the market with a trend of dialysis service privatization
Baxter focuses on strategic acquisitions to capitalize on higher growth opportunities
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