The artificial kidney market has become one of the leading segments in the medical devices industry over the past few years. Artificial kidneys are medical devices that mimic the functions of the human kidneys in removing waste products and excess fluid from the blood. They are primarily used for the treatment of end-stage renal disease (ESD), which requires renal replacement therapy such as hemodialysis or kidney transplantation in patients whose kidneys are no longer functional. The growing prevalence of chronic kidney diseases and the shortfall in organ donations for transplantation are some of the key factors driving the demand for artificial kidneys globally.
The Global artificial kidney market is estimated to be valued at US$ 3358.54 Mn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the artificial kidney market are KAWASUMI LABORATORIES, INC., Nanodialysis, Fresenius SE & Co KGaA, Baxter, ASAHI KASEI MEDICAL CO., LTD, Medtronic, DaVita Inc, Merit Medical Systems, Nipro Medical Corporation, Nikkiso Co Ltd, Braun Melsungen AG and AWAK Technologies. These players are focusing on new product launches and approvals to expand their market share.
The rising incidence of end-stage renal diseases and increasing healthcare expenditure in emerging countries present significant growth opportunities in the market. Moreover, innovations in materials such as porous polymers and membranes used for dialysis are improving efficacy and biocompatibility of artificial kidneys.
Globally, the artificial kidney market is dominated by North America due to the increased awareness about kidney diseases and advanced healthcare infrastructure. However, Asia Pacific is expected to witness the highest growth owing to improving access to healthcare facilities and increasing focus of key players on expanding operations in the region.
Market drivers
The increasing prevalence of diabetes and hypertension, which are the leading causes of chronic kidney diseases, is a major driver for the artificial kidney market. According to statistics, these conditions affect over 30% of the global population. Other key drivers include the growing elderly population who are more prone to renal diseases and rising funding for innovation in dialysis technologies by government and private organizations. The market is also driven by limitations of hemodialysis such as restricted fluid and diet, life-threatening complications, and reduced quality of life. These factors are increasing the demand for novel artificial kidney devices as an effective alternative.
PEST Analysis
Political: Developments in healthcare policies and regulations regarding organ transplant procedures will affect the growth of artificial kidney market. Government support for R&D funding of innovative dialysis technologies will drive the industry growth.
Economic: Increasing dialysis procedure costs and greater demand for cost-effective chronic disease management solutions are creating growth opportunities for artificial kidney suppliers. However, high R&D costs for developing advanced technologies poses a challenge.
Social: Rising prevalence of chronic kidney diseases due to conditions like diabetes and hypertension is the major driver. Growing awareness about organ donation and transplant procedures is also influencing the market demand.
Technological: Suppliers are conducting extensive research to develop more compact, affordable and long-lasting bio-artificial renal devices. Technological advancements in areas of tissue engineering, biocompatibility and miniaturization will expand the scope of artificial kidney applications.
North America region captured the highest share of artificial kidney market in terms of value owing to strong healthcare infrastructure, rising healthcare expenditure and increasing population undergoing dialysis treatments. USA dominates the regional industry due to presence of major players and availability of advanced dialysis facilities.
Asia Pacific region is poised to witness fastest growth during the forecast timeline on account of growing disease burden, rising medical tourism and improved access to dialysis therapies. Expansion of private healthcare sector and favorable government policies are supporting the regional market growth. China and India serve as lucrative markets due to large patient pools requiring renal replacement therapies.
Kidney/Renal Function Test Market Research report provides a detailed analysis of of main manufactures and geographic regions,global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players.
Kidney/Renal Function Test Market report includes definitions, classifications, applications, and industry chain structure, development trends, and key regions distributors analysis.The report also provides supply and demand Figures, revenue, revenue and shares.
value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches.Due to the pandemic, we have included a special section on the Impact of COVID 19 on the Kidney/Renal Function Test Market which would mention How the Covid-19 is affecting the Kidney/Renal Function Test Industry, Market Trends and Potential Opportunities in the COVID-19 Landscape, Covid-19 Impact on Key Regions and Proposal for Corrugated Board Players to Combat Covid-19 Impact.Get Sample PDF of Kidney/Renal Function Test Market Report (including COVID19 Impact Analysis) @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-kidney-renal-function-test-marketKidney/Renal Function Test Market Scope and Market SizeKidney/renal function test market is segmented on the basis of product type, test type and end user.
The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.On the basis of product type, the kidney/renal function test market is segmented into dipsticks, reagents and disposables.Based on test type, the kidney/renal function test market is segmented into urine tests and blood tests.
Urine tests have further been segmented into urine protein tests, creatinine clearance tests and microalbumin tests.
Blood tests have further been segmented into serum creatinine tests, glomerular filtration rate tests and blood urea nitrogen tests.Key Players: Global Kidney/Renal Function Test MarketSiemens Healthcare Private Limited, Danaher, Sysmex Corporation, F. Hoffmann-La Roche Ltd., Abbott, Nova Biomedical, URIT MEDICAL ELECTRONIC CO., LTD., ARKRAY Inc., IDEXX Laboratories, Inc., ACON Laboratories, Inc., 77 Elektronika Kft, Randox Laboratories Ltd., OPTI MEDICAL SYSTEMS, bioMérieux SA, Laboratory Corporation of America Holdings, Arbor Assays, Walk-In Lab, LLC, Beckman Coulter, Inc., Quest Diagnostics Incorporated, and Merck KGaA among other domestic and global playersMAJOR TOC OF THE REPORTChapter One: Kidney/Renal Function Test Market OverviewChapter Two: Manufacturers ProfilesChapter Three: Global Kidney/Renal Function Test Market Competition, by PlayersChapter Four: Global Kidney/Renal Function Test Market Size by RegionsChapter Five: Global Kidney/Renal Function Test Market Revenue by CountriesChapter Six: Global Kidney/Renal Function Test Market Revenue by Product TypeChapter Seven: Global Kidney/Renal Function Test Market Revenue by Test TypeChapter Eight: Global Kidney/Renal Function Test Market Revenue by End UserChapter Nine: Global Kidney/Renal Function Test Market Revenue by GeographyGet Detail TOC@ https://www.databridgemarketresearch.com/toc/?dbmr=global-kidney-renal-function-test-marketKey Report HighlightsComprehensive pricing analysis based on different product types and regional segmentsMarket size data in terms of revenue and sales volumeDeep insights about regulatory and investment scenarios of the global Kidney/Renal Function Test MarketAnalysis of market effect factors and their impact on the forecast and outlook of the global Kidney/Renal Function Test MarketThe detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the global Kidney/Renal Function Test MarketA roadmap of growth opportunities available in the Global Kidney/Renal Function Test Market with the identification of key factorsKey Questions Answered in Report:What is the key to the Kidney/Renal Function Test Market?What will the Kidney/Renal Function Test Market Demand and what will be Growth?What are the latest opportunities for Kidney/Renal Function Test Market in the future?What are the strengths of the key players?Access Full Report @ https://www.databridgemarketresearch.com/reports/global-kidney-renal-function-test-marketAbout Us:Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.
