Market Analysis
The global artificial kidney market is likely to touch USD 2,795.01 million at a whopping 95.54% CAGR between 2019- 2025, according to the recent report by Market Research Future (MRFR). Artificial kidney, simply put, is a portable device and state of the art technology that helps people in experiencing the help of dialysis anytime and anywhere. It replicates the functioning of a real kidney, which potentially eliminates the requirement for dialysis. This artificial kidney helps in delivering patients with constant blood filtration when their kidney is not in a working condition and is severely damaged. It helps in fulfilling the kidney donor shortage needed for transplant and also reduces hospital visits for performing dialysis.
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Various factors are adding to the global artificial kidney market growth. Such factors, according to the new MRFR report, include surging demand for devices that are technologically advanced, rising prevalence of kidney disease, increasing research & development activities, and low availability of kidney donors.
On the contrary, the huge size of the artificial kidney market , immobile, and engineering issues related to the device are factors that may limit the artificial kidney market growth over the forecast period.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global artificial kidney market report based on dialysis and type.
By type, the global artificial kidney market is segmented into an implantable artificial kidney & 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 coupled with the rising patient population having renal failure.
By dialysis, the global artificial kidney market is segmented into combination, hemodialysis, and peritoneal dialysis. Of these, hemodialysis will dominate the market over the forecast period.
Regional Analysis
Based on the region, the artificial kidney market covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will dominate the market over the forecast period. Factors boosting the artificial kidney market growth in the region include a huge patient population having kidney disease, increasing R&D by different private and public organizations, and the presence of several medical device companies. Besides, the rising prevalence of chronic kidney diseases is also adding market growth in the region.
The artificial kidney market in Europe is predicted to hold the second-largest share over the forecast period. Factors boosting the artificial kidney market growth in the region include the rising standards for treating chronic kidney disease, burgeoning demand for procedures that are minimally invasive, and increasing use of devices that are technologically advanced. Besides, the growing geriatric population and innovations in medicine and technology are also adding market growth in this region.
The artificial kidney market in the APAC region is predicted to grow at a fast pace over the forecast period for increasing opportunities for key players for investing in the region, rising investments by government bodies, increase in disposable income, and rising prevalence of renal failure cases. Besides, the large target population in India & China is also adding market growth in the region.
The artificial kidney market in the MEA is predicted to have the smallest share over the forecast period. However, increasing patients' awareness regarding the perks of artificial kidney and untapped markets are likely to offer growth opportunities in the future.
Key Players
Key players profiled in the global artificial kidney market report include AWAK Technologies Pte.Ltd (Singapore), Asahi Kasei Medical Vo., Ltd, Kawasumi Laboratories, Inc. (Japan). Triomed AB. (Sweden), and Blood Purification Technologies Inc. Industry players have encompassed several strategies to stay ahead in the competition and also cater to consumers growing needs such as partnerships, joint ventures and collaborations, geographic expansions, extensive R&D activities, contracts, new product development, and contracts.
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