Renal Dialysis Equipment Market - Growth, Trends, and Forecast (2020 - 2025)
The renal dialysis equipment market will show rapid growth due to the expanding number of dialysis centres, growth in R&D expenditure for the development of new dialysis products and increasing endstage renal diseases.
There has been an increasing incidence of renal diseases, such as the kidney diseases that are increasing at an alarming rate in both the developed and developing countries. Dialysis is thus referred to patients who are suffering from chronic kidney diseases (CKD) or are diagnosed with an endstage renal disorder (ESRD). According to a 2018 study conducted by the University of California San Francisco, an estimated 2 million people in the world are suffering from endstage renal disorders (ESRD). Therefore the disease is found expanding that is fueling the growth of the dialysis equipment market as the demand for a fast yet effective artificial kidney system rises in the world.
Hence the growth of the market is primarily attributed to the rise in a number of endstage renal disease patients (ESRD), advanced technologies, and rise in costeffective and accurate portable dialysis apparatus.
Key Market Trends
Hemodialysis (HD) Equipment is Expected to Dominate the Market During the Forecast Period
Hemodialysis (HD) equipments are growing robustly during the forecast period, due to the increasing prevalence of terminal kidney failure patients. The hemodialysis is therefore used to filter wastes and water from the blood. Therefore manufacturers are found focussing on the developments of the specialized hemodialysis equipments that helps in the growth of the overall market.
North America is Anticipated to Dominate the Renal Dialysis Equipment Market
In the North America region, the US and Canada are expected to show outstanding performance during the forecast period. The market is projected to witness steady growth due to the massive adoption of new technologies in the kidney dialysis division. The manufacturers are also queuing up specialized hemodialysis as well as peritoneal dialysis machines with different interventions, which will also impact the enduser experience. There is also a boom in public healthcare expenditure and an increase in the awareness programs that are expected to drive the growth of the renal dialysis equipment market.
The Asia Pacific region is also anticipated to show fastest growth as there are increasing number of endstage renal disease patients. This region is also anticipated to show an increase in the number of renal dialysis patients, which, in turn, would fuel the growth of the renal dialysis equipment market.
The global renal dialysis equipment market is found to be highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market. These healthcare companies are also inspiring scientists to build affordable machines for dialysis that make minimal use of technicalities while serving the main purpose of the procedure at the same time.
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