Market Overview:
Artificial kidneys are implantable devices that help treat patients with kidney failure by performing important kidney functions like filtering waste from the blood when renal functions deteriorate. They remove toxins and excess fluid from the blood, helping avoid dialysis. The wearable artificial kidneys segment is growing rapidly as they offer increased mobility to patients.
Market key trends:
One of the major trends in the artificial kidney market is the development of miniaturized and portable artificial kidney devices. Researchers are working on developing wearable artificial kidneys that can be worn externally like a vest. These wearable devices are self-contained units that perform hemodialysis without being attached to bulky machines. They allow increased mobility and independence for patients. This has potential to improve quality of life for those suffering from renal failure.
Segment Analysis
The global artificial kidney market is segmented by technology, end-user and region. Based on technology, the market is segmented into wearable artifical kidney and implantable artificial kidney. Currently, implantable artificial kidney dominates the market as it provides long term and continuous dialysis treatment. However, wearable artificial kidney is expected to witness fastest growth in coming years due to advantages like portability and ease of use.
The global Artificial Kidney Market Demand is estimated to be valued at US$ 7.00 Bn in 2023 and is expected to exhibit a CAGR of 60% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global artificial kidney market is expected to witness high growth, exhibiting CAGR of 60% over the forecast period, due to increasing prevalence of chronic kidney diseases and growing geriatric population.
Regional analysis
North America dominates the global artificial kidney market currently due high healthcare expenditure and early adoption of advanced renal replacement therapies. However, Asia Pacific is expected to witness fastest growth during forecast period driven by growing disposable income, heavy funding for research and development activities in countries like China and India.
Key players
Key players operating in the artificial kidney market are Kawasumi Laboratories Inc., Blood Purification Technologies Inc., AWAK Technologies Pte. Ltd, Triomed AB, Asahi Kasei Medical Vo. Ltd, US Kidney Research Corporation, Merit Medical Systems, NIPRO Medical Corporation, Fresenius SE & Co. KGaA. Kawasumi Laboratories Inc. holds highest market share currently due to wide distribution network and strong portfolio of implantable artificial kidneys.
Global Artificial Kidney Market Research Report: By Type (Wearable Artificial Kidney, Implantable Artificial Kidney) and Dialysis (Hemodialysis, Peritoneal Dialysis, Combination) - Forecast till 2025Industry Overview The global artificial kidney market size is likely to touch USD 2,795.01 million at a 95.54% CAGR between 2019-2025, as per the latest Market Research Future (MRFR) report.
An artificial kidney or hemodialyzer helps to filter the blood of an individual having kidney damage.
These devices are lightweight and rely on batteries that are long-lasting, highly permeable membranes, new filtering materials, and advances in miniaturization.
Such factors, according to the MRFR report, include rising prevalence of kidney disease, minimum/less availability of kidney donors, an increase in kidney transplant surgeries, rising disposable income, and advanced healthcare facilities.
Of these, haemodialysis will have a major share in the market over the forecast period for the increasing number of haemodialysis procedures.
However, increasing awareness about the benefits of artificial kidney among patients and untapped markets may boost the market growth in the upcoming years.
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