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.
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 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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