Market Analysis
The global artificial kidney market is predicted to touch USD 2,795.01 million at a 6.9% CAGR between 2019-2025, reveals the new Market Research Future (MRFR) report. An artificial kidney, simply put, is a portable medical device that allows people in experiencing the assistance of a dialysis anytime and anywhere. It is of two types- wearable artificial kidney and implantable artificial kidney. These devices are lightweight, which depend on highly permeable membranes, new filtering materials, advances in miniaturization, and long-lasting batteries. The month of March is declared as the National Kidney Month by the National Institutes of Health to increase awareness about chronic kidney diseases.
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Various factors are adding to the artificial kidney market growth. These factors, as per the new MRFR report, include growing geriatric population, increasing life expectancy, increasing disposable income, and developments in science and technology. Additional factors adding market growth include awareness campaigns, increasing cases of kidney diseases among Americans owing to surging rates of high blood pressure and diabetes, changing lifestyle, increasing awareness about renal failure diseases, low availability of kidney donors, and increasing R&D for improved dialysis process.
On the contrary, engineering issues related to devices and problem with the artificial kidney size are factors that may limit the artificial kidney market growth over the forecast period.
Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global artificial kidney Market Growth based on dialysis and type.
By type, the artificial kidney market is segmented into the implantable artificial kidney and wearable artificial kidney. Of these, the wearable artificial kidney segment will lead the market over the forecast period for the technical benefits of artificial organs and rising cases of renal failure.
By dialysis, the artificial kidney market is segmented into peritoneal dialysis, hemodialysis, and combination. Of these, hemodialysis will dominate the market over the forecast period for the increasing number of hemodialysis procedures.
Regional Analysis
Based on region, the global artificial kidney market report covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the Americas will command the largest share in the market over the forecast period. Factors propelling the global artificial kidney market in the region include increasing prevalence of chronic kidney diseases, increasing R&D by public and private organizations, and the presence of key players.
The global artificial kidney market in Europe is predicted to hold the second-largest share over the forecast period for the growing geriatric population and increasing technological advances in technology and medicine.
The global artificial kidney market in the Asia Pacific region is predicted to grow at a fast pace over the forecast period. Factors propelling the global artificial kidney market in the region include increasing prevalence of kidney diseases, increasing opportunities for key players for investing in the region, rising investments by government bodies, rising disposable income, and increasing prevalence of renal failure.
The global artificial kidney market in the Middle East and Africa is predicted to have the lowest share over the forecast period for increasing awareness among patients regarding the different benefits of artificial kidney coupled with untapped markets.
Key Players
Eminent players profiled in the global artificial kidney market report include Asahi Kasei Medical Vo., Ltd, Triomed AB. (Sweden), AWAK Technologies Pte.Ltd (Singapore), Blood Purification Technologies Inc., and Kawasumi Laboratories, Inc (Japan). Industry players have used strategies such as mergers and acquisitions, new product launch, joint ventures, contracts, extensive R&D, partnerships, strategic alliances, collaborations, and others to create a niche in the market as well as cater to the burgeoning needs of the customers.
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