According to a 2018 study conducted by University of California San Francisco, an estimated 2 million people in the world are suffering from end-stage renal disorder (ESRD.) In the United States of America, the disease is expanding at a rate of 5% per year. These alarming statistics are fueling the growth of the dialysis equipment market as the demand for a fast yet effective artificial kidney system rises in the world. Since kidney transplantation is a complicated process owing to the elusiveness of kidney donors and difficulty in finding the right match, most patients are put on dialysis either temporarily or permanently. Hemodialysis segment of the dialysis equipment market is expected to grow with a compound annual growth rate (CAGR) of 3.5% during the forecast period of 2019-2025. A single hemodialysis treatment in the United States of America costs around $500 dollars per person. Needless to say, dialysis has been an unaffordable procedure for kidney treatment, which is why the dialysis equipment market is experiencing unprecedented growth for making kidney healthcare more affordable.
During the forecast period of 2019-2025, the market is projected to grow with a noticeable CAGR of 4.4%. This will be considerable growth from its 2018 market size which stood at $14.4 billion.
When a person’s kidneys are impaired beyond any feasible treatment, the process of dialysis comes to the rescue for performing the same functions as the defunct organs, only externally. End stage kidney failure (ESRD) or acute kidney injury (AKI) utilize dialysis in patients as their kidneys can no longer function, while their body still requires regular cleansing. Dialysis is effective in controlling the blood pressure, removal of waste, salt and excessive water, and maintaining an optimum level of imperative minerals in the body like potassium or sodium. There are two different kinds of dialysis- hemodialysis and peritoneal dialysis. While in the former process, an external artificial kidney is used for cleansing the blood, the peritoneal dialysis makes use of a catheter that is placed inside the abdominal area. In 2018, North America led the dialysis equipment market geographically with a regional share of 34%. This was possible through constant innovation that is taking place in the region and taking the form of accessible, and portable dialysis equipment.
As per the 2017 World Population Prospects data assembled by the United Nations after careful assessment, around 2.1 billion older persons are expected to make up our entire population by the year 2050. Geriatric population is more likely to suffer from end stage renal disorders, and the demand for regular dialysis treatment is particularly high from them. This population is driving the growth of the dialysis equipment market and inspiring innovation in the field.
According to World Health Organization, non-communicable, chronic diseases including diabetes, hypertension, cardiovascular diseases, and lung diseases are responsible for around 70% of all deaths around the world. Illnesses like diabetes and hypertension generate a high demand for the dialysis equipment market as more and more people become susceptible towards suffering from them due to lifestyle changes.
Consistent innovation in the dialysis equipment market is breeding innovation and leading to creation of complex systems that patients and clinicians are having trouble getting accustomed to. This is the greatest challenge faced by the market and can only be combated on the basis of instructive training and introduction of ease of accessibility in the equipment.
Some of the key players in the market are Baxter, Asahi Kasei Corporation, Fresenius Medical Care AG & Co. KGaA, Cantel Medical, Rockwell Medical, JMS Co. Ltd., Teleflex Incorporated, B. Braun Melsungen AG, NIPRO, HEMOCLEAN CO., LTD., Quanta, and Outset Medical, Inc.
Quanta Dialysis Technologies, a United Kingdom organization has invented a compact dialysis machine called the SC+. This machine which uses a cartridge-based system has been credited for easing up the dialysis process and making patients less prone to infections. This machine is portable and can be used at home easily owing to its easy to use interface.
Several market players are gravitating towards building a dialysis machine that is portable and can be used easily at home. Outset Medical Inc, a US-based healthcare company has innovated and created Tablo which makes use of the latest technology. Treatment data can easily be sent to cloud storage through wireless connectivity embedded in the machine, while table sensors fitted into the machine ease up the setting up the process through automation. Real-time dialysis can be conducted through this machine which has made treatment considerably faster. Innovation of this stature has helped the dialysis equipment market in gaining adequate momentum.
Several healthcare companies are inspiring scientists to build affordable machines for dialysis that make minimal use of technicalities while serving the essential purpose of the procedure at the same time. George Institute of Global Health in Australia recently won an award for developing the world’s first affordable dialysis machine which only uses a solar panel, a water purifier and a care station. Key market players of the dialysis equipment market are moving towards miniaturization of the machines in order to bring them to everyone’s homes.
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Dialysis Equipment Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the Dialysis Equipment Market, and their specific applications in different areas.
The dialysis equipment market can be segmented on the basis of treatment, dialysis membrane, application and end user. On the basis of treatment, the market can be bifurcated into Hemodialysis, Peritoneal Dialysis, Continuous ambulatory peritoneal dialysis (CAPD), Automated peritoneal dialysis (APD), Home Haemodialysis, Conventional home hemodialysis, Short daily home hemodialysis and Nocturnal home hemodialysis. By dialysis membrane, the market is divided into unmodified cellulose low-flux membranes and synthetic high-flux membranes. Based on application, the market is segmented into salt removal, buffer exchange, virus purification, drug binding studies, serum and blood treatment and others. And by end user, the market is divided into dialysis centers, hospitals, home care settings, and research laboratories.
The Dialysis Equipment Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia