Key Renal Dialysis Equipment Market Trend 2024-2033: Advancements in Renal Dialysis Equipment
Renal Dialysis Equipment Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What Does the Growth Look Like for the Renal Dialysis Equipment Market?
The renal dialysis equipment market size has exhibited robust growth in recent years. The market is projected to grow from $18.28 billion in 2023 to $19.52 billion in 2024, with a compound annual growth rate CAGR of 6.8%. Growth in this period has been primarily driven by factors such as comprehensive training programs and support, substantial investments in research and development, a heightened awareness of kidney health, private healthcare sector expansion, and rising disposable incomes.
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What Are the Projections for the Renal Dialysis Equipment Market?
Over the next few years, the renal dialysis equipment market size is poised to see substantial growth, surging to $25.51 billion in 2028 with a CAGR of 6.9%. Growth in this forecast period can be ascribed to factors such as investing in sustainable practices, insurance coverage for dialysis treatment, a surge in medical tourism, improved reimbursement policies, and a focus on patient-centric care. Key trends going forward include the adoption of home dialysis, advanced dialysis products, the expansion of telemedicine and remote monitoring, adoption of continuous renal replacement therapy, and biocompatible dialysis membranes.
What Is Driving the Renal Dialysis Equipment Market Growth?
The rising prevalence of chronic kidney disease is expected to spearhead the growth of the renal dialysis equipment market in the future. Chronic kidney disease denotes the gradual loss of kidney function over time, which can culminate in kidney failure and other severe health-related complications. This condition is linked to various risk factors including diabetes, hypertension, the prolonged use of certain medications, and genetic predispositions. Renal dialysis equipment plays a crucial role in supporting individuals with chronic kidney disease, filtering waste products and excess fluids from the bloodstream that their damaged kidneys can no longer effectively process. For instance, in June 2024, according to the Australian Institute of Health and Welfare, a government agency based in Australia, chronic kidney disease CKD mortality rates surged by 4.2% in 2021 and 6.2% in 2022. During 2021-22, CKD accounted for about 2 million hospitalizations, representing 18% of all hospitalizations in Australia. Therefore, the rising prevalence of chronic kidney disease is driving the growth of the renal dialysis equipment market.
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Which Companies Majorly Influence the Renal Dialysis Equipment Market?
Key industry players in the renal dialysis equipment market include CVS Health Corporation, Medtronic plc, Fresenius Medical Care AG & Co. KGaA, Asahi Kasei Medical Co. Ltd., Toray Industries Inc., Baxter International Inc., DaVita Inc., B. Braun Holding GmbH & Co. KG, Nipro Corporation, Teleflex Incorporated, Nikkiso Co. Ltd., Cantel Medical Corporation, Diaverum, Inspira Health Network, JMS Co. Ltd., NxStage Medical Inc., Rockwell Medical Inc., Cytosorbents Corporation, Quanta Dialysis Technologies, Farmasol, Outset Medical Inc., Medica SpA, Allmed Medical GmbH, Medionics International Inc., AWAK Technologies.
What Are the Emerging Trends in the Renal Dialysis Equipment Market?
Major companies in the renal dialysis equipment market are developing renal devices with advanced features such as hemodialysis systems with automated processes to enhance treatment efficiency and outcomes. Automated processes augment the advantages of renal dialysis equipment, improving accuracy, consistency, and efficiency in treatments, minimizing manual intervention, and reducing the risk of errors during dialysis sessions. For instance, in March 2022, Nipro Medical Corporation, a US-based medical equipment manufacturing company, unveiled SURDIAL DX, an advanced hemodialysis system. SURDIAL DX incorporates automated processes aimed at simplifying clinical workflows, developed with inputs from clinicians, emphasizing patient safety, comfort, and easy usage. It also includes a built-in dialysate preparation system and piston pump ultrafiltration, contributing to a more efficient treatment process.
How Is the Renal Dialysis Equipment Market Segmented?
The renal dialysis equipment market covered in this report is segmented as follows:
1 By Product Type: Hemodialysis HD Equipment, Peritoneal Dialysis PD Equipment, Concentrates And Solutions, Catheters And Tubing, Other Products
2 By Application: Hemodialysis, Peritoneal Dialysis
3 By Distribution Channel: Direct Tenders, Retail
4 By End User: In-Center Dialysis Settings, Home Care Settings
What Are the Regional Insights for the Renal Dialysis Equipment Market?
In 2023, North America was the largest region in the renal dialysis equipment market. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the renal dialysis equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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