According to a study by the Centers for Disease and Prevention (CDC), around 30 million people in the U.S. were suffering from chronic kidney diseases in 2017. The rising prevalence of kidney diseases is the chief factor driving the global hemodialysis equipment market. Fortune Business Insights in a new report, titled “Hemodialysis Equipment: Global Market Analysis, Insights and Forecast, 2018-2025” entails the hemodialysis equipment market analysis and trends prevailing in the market. Hemodialysis, also referred to as artificial kidney helps to filter out excess fluid and toxins from the blood.
This process of removal and filtration is called hemodialysis. The rising prevalence of end-stage renal disease (ESRD) is another factor responsible for the adoption of a hemodialysis machine. ESRD can be caused by high blood pressure, diabetes, excessive alcoholism, urinary tract issues, genetic disorders, and drug abuse.
Some of the Main Key Players Covered in the Report
- Fresenius Kabi AG
- Baxter International Inc.
- Braun Melsungen AG
- NIPRO CORPORATION
- Nikkiso Co., Ltd.
- Asahi Kasei Corporation
- TORAY INDUSTRIES, INC.
- JMS Co., Ltd.
Analysts in the report found that the global hemodialysis equipment market was valued at US$11,471.6 Mn in the year 2017 and is anticipated to be worth US$ 16,321.6 Mn by 2026. Further to this, the global market for hemodialysis equipment is expected to rise at a CAGR of 4.5% during the forecast period.
As per the National Kidney Foundation report 2016, more than 1 lakh patients are awaiting kidney transplants in the U.S. This shortage for kidney transplants act as a potential growth trigger in the market. This shows that the hemodialysis equipment market scope is likely to increase.
- Hemodialysis Machines
- Hemodialysis Consumables
By End User
- Dialysis Centers & Hospitals
- Home Healthcare
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Increasing R&D Investment in Asia Pacific Catapults it to the Market’s Forefront
In 2017, the market in Asia Pacific was valued at US$ 4,301.9 Mn and is anticipated to maintain its dominance through the forecast years. The region is observing that the needs of ESRD patients aren’t met owing to the poor accessibility, especially in developing countries. Against this backdrop, the hemodialysis equipment market potential is likely to increase in Asia Pacific.
The rising prevalence of kidney diseases and ESRD, especially in India and China, is likely to increase the hemodialysis equipment market revenue by 2025. The huge gap between existing infrastructure and large population will create ample growth opportunities for the market in Asia Pacific.
The market in North America is expected to register a considerable rate in the forecast years. Favorable healthcare reimbursement policies and well-established healthcare infrastructure will give tailwinds to the market in North America. The hemodialysis equipment market size is expected to reach new heights owing to growing awareness about the benefits associated with hemodialysis in Europe.
The market is likely to create growth opportunities as the availability of hemodialysis machine increases in Europe. Other regions such as Latin America and the Middle East & Africa are estimated to grow considerably in the forecast period.
More Trending Topics from Fortune Business Insights: