Kidney dialysis equipment are medical devices that filter and clean the blood of patients with renal failure. It helps remove waste and excess fluid from the blood when the kidneys are unable to perform these functions naturally. The major equipment include hemodialysis machines, dialyzer, dialysis solutions and catheters. Hemodialysis machines pump blood out of the body into a dialyzer that cleans it before returning it the circulation. It is commonly used to treat acute kidney injuries and patients awaiting kidney transplantation.
The global kidney dialysis equipment market is estimated to be valued at US$ 16,874.5 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increase in end stage renal disease patients globally due to rise in diabetes, hypertension, and other chronic conditions is a major driver augmenting the growth of kidney dialysis equipment market. As per data by National Kidney Foundation, nearly 2 million patients with end stage renal disease require dialysis or kidney transplant globally. Hemodialysis is the most common type of treatment prescribed to such patients as it is considered safer, cheaper and widely available compared to other modalities. Additionally, technological advancements in dialysis equipment such as portable and home hemodialysis systems has made treatment more convenient to patients. However, risks of complications associated with dialysis including infections, hypotension and cardiovascular diseases may hamper the demand to certain extent.
SWOT Analysis
Strength: Kidney dialysis equipment provides life-saving treatment for patients with kidney failure. It helps filter waste and excess fluid from the blood when the kidneys are no longer able to perform this function effectively. The market is driven by the growing prevalence of chronic kidney diseases and end-stage renal diseases. Furthermore, technological advancements in dialysis machines have made treatment easier and more effective for patients.
Weakness: Dialysis treatment is often life-long for patients with end-stage renal disease. It is also highly invasive, time-consuming, and resource-intensive. This raises the overall healthcare costs associated with treating kidney failure patients on dialysis. Additionally, quality of life often declines for patients requiring frequent and lengthy sessions.
Opportunity: There is an opportunity to develop more portable and home-based dialysis systems. This would give patients greater flexibility and independence compared to center-based hemodialysis. Advancements in wearable and implantable artificial kidney technologies also present new opportunities. Growth in healthcare expenditure and improving access to insurance in developing economies also provides market opportunities.
Threats: Strict regulatory approvals and reimbursement policies pose challenges to market players. Increasing cost pressures within healthcare systems also threaten profit margins. Rise of alternative treatment options like kidney transplants also takes away market share from dialysis over the long run.
Key Takeaways
The global kidney dialysis equipment market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to increase from US$ 16,874.5 Mn in 2023 to US$ 28,918.9 Mn by 2030, expanding at a CAGR of 6.6%.
Regional analysis: North America currently dominates the kidney dialysis equipment market, accounting for over 45% of the global market share in 2023. However, Asia Pacific is expected to witness the fastest growth during the forecast period. Factors such as the rising elderly population, growing prevalence of diabetes and hypertension, and improving access to healthcare in China and India will drive the kidney dialysis equipment market in the Asia Pacific region.
Key players: Fresenius Medical Care AG & Co and Baxter International, Inc. have emerged as global leaders in the kidney dialysis equipment market. Other prominent players operating in the market are Nipro Corporation, B. Braun Melsungen AG, Nikkiso Co, Ltd., Asahi Kasei Corporation, NxStage Medical, Inc., Guangdong Biolight Meditech Co., Ltd, Dialife SA, and DaVita Inc. Key players are investing in innovative product launches and targeting high growth emerging markets through collaborations to consolidate their market position.
