Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Global Artificial Kidney Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global artificial kidney market is set to experience substantial growth, with a Compound Annual Growth Rate (CAGR) of 13.0% projected over the forecast period.
This growth is attributed to factors such as the increasing prevalence of diseases like Acquired Cystic Kidney Disease, Glomerular Diseases, and Diabetes Insipidus, as well as the limited availability of kidney donors worldwide. Notably, over 15% of US adults, or 37 million people, were diagnosed with chronic kidney disease (CKD) in 2021, as reported by the Center for Disease Control and Prevention (CDC).
The surge in Research and Development (R&D) endeavors to create innovative artificial kidneys is expected to further fuel market growth. An example of this is UCLA Health's partnership with the US Department of Health and Human Services (HHS) and the American Society of Nephrology (ASN), aimed at developing an implantable artificial kidney by 2026, utilizing cutting-edge dialysate-free technology.
Segmental Breakdown
The global artificial kidney market is categorized by device type, dialysis type, and end-user. In terms of device type, it comprises wearable artificial kidneys and implantable artificial kidneys. The dialysis type is segmented into hemodialysis and peritoneal dialysis, while the end-users encompass dialysis centers, specialty clinics, and hospitals. Hospitals are projected to dominate the market share due to the increasing facilities related to kidney disease treatment.
Hemodialysis Leads the Dialysis Segment
Hemodialysis, a treatment for filtering blood to control blood pressure and balance minerals, is anticipated to hold a significant market share among dialysis types. With the rising prevalence of end-stage renal diseases (ESRD) and conditions like diabetes and hypertension, hemodialysis has gained traction. The National Institute of Health (NIH) reported that around 786,000 people in the US were living with ESRD in 2021, with 71% undergoing dialysis and 29% considering kidney transplants.
Regional Insights
The global artificial kidney market is segmented geographically into North America, Europe, Asia-Pacific, and the Rest of the World. Europe is projected to witness notable growth due to increased healthcare expenditure and rising kidney disease prevalence. In the European Union, government health expenditure accounted for nearly $1.3 trillion in 2021, approximately 8% of the total GDP.
The Asia-Pacific region is expected to hold a significant share, driven by a rising number of people with chronic kidney diseases and investment in artificial kidney production. Japanese medical device manufacturer Nipro Asia's substantial investment to enhance dialysis machine production capacity is a testament to this trend.
Key Players and Market Outlook
Leading companies in the global artificial kidney market include B. Braun Melsungen AG, Baxter International Inc., Fresenius Medical Care AG & Co. KGaA, Medtronic plc, and Nikkiso Co. Ltd., among others. These players are employing strategies such as mergers, partnerships, and new product launches to stay competitive. For instance, Medtronic plc and DaVita Inc. partnered to establish NewCo, a kidney care-focused medical device company, to enhance patient treatment experiences and outcomes.
Report Highlights
- Market value analysis for 2022 and forecast to 2030
- Annualized market revenues for each segment
- Country-wise analysis of major regions
- Key players in the global artificial kidney market
- Business strategies, market-entry, and expansion strategies
- Competitive positioning and insights into market dynamics
For more information about this report visit https://www.researchandmarkets.com/r/hk2ao0
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