Introduction to the Hemodialysis Market
Hemodialysis is a process of blood purification in which the blood is pumped from the body to an artificial kidney (dialyzer) and then the filtered blood is returned to the body. It is majorly used in the treatment of kidney failure and is considered as a life-saving treatment. The growing prevalence of kidney diseases, increasing geriatric population, and technological advancements are some of the major factors driving the global hemodialysis market.
Global Hemodialysis Market Overview
The global Hemodialysis market size is projected to reach USD 105.1 billion by 2026 from USD 76.9 billion in 2021, at a CAGR of 6.4% during the forecast period. The growing prevalence of chronic kidney diseases, advancing hemodialysis technologies, and rising geriatric population are the major factors driving the growth of the global hemodialysis market.
The global hemodialysis market is segmented on the basis of product, end user, and geography. Based on product, the global hemodialysis market is segmented into dialysis machines, dialyzers, bloodlines, concentrates, and others. By end user, the global hemodialysis market is divided into homecare settings, and dialysis centers. Geographically, the global hemodialysis market is segmented into North
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1279
Drivers of the Hemodialysis Market
· Increasing Prevalence of Chronic Kidney Disease: The increasing prevalence of chronic kidney disease is one of the primary drivers of the hemodialysis market. According to the National Kidney Foundation, more than 37 million adults in the United States have chronic kidney disease (CKD). The prevalence of CKD is higher in certain populations, such as those of African American and Hispanic descent.
· Rising Elderly Population: The growing elderly population is another major driver of the hemodialysis market. As people age, the risk of developing chronic kidney disease increases, and the need for hemodialysis treatment rises.
· Technological Advancements: Technological advancements have also been a major driver of the hemodialysis market. In recent years, manufacturers have developed new and improved hemodialysis machines that are more efficient, accurate, and reliable. These technological advancements have made hemodialysis treatment more accessible and affordable for those who need it.
· Growing Awareness of Kidney Diseases: The growing awareness of kidney diseases is also driving the growth of the hemodialysis market. Through public awareness campaigns, people are becoming more aware of the risks associated with chronic kidney diseases.
Challenges Faced by the Hemodialysis Market
· Rising Cost of Dialysis Treatment: The cost of hemodialysis treatment is increasing as dialysis centers are required to purchase and maintain new technologies, as well as pay for staff wages and other operational costs.
· Lack of Skilled and Experienced Professionals: Hemodialysis requires a highly skilled and experienced professional to administer the procedure and provide care for the patient. There is a shortage of such professionals, leading to further cost increases for dialysis centers.
· High Risk of Infection: Hemodialysis patients are at a high risk of contracting infections from the dialysis equipment, as well as from having their blood exposed to the environment. This can lead to increased costs and complications.
· Limited Accessibility: Hemodialysis treatments are not available to everyone, as access to dialysis centers is often limited due to geography or lack of insurance coverage.
Regional Hemodialysis Market Analysis
Geographically, the emerging Asian countries, such as China, India, Japan and Singapore, are offering high-growth opportunities for market players. The Asia Pacific point of care market is projected to grow at the highest CAGR of 8.8% from 2021 to 2026. Expansion of healthcare infrastructure and increase in disposable personal income, increase patient population with acute kidney disease, diabetes, hypertension are factors likely to support the growth of hemodialysis and peritoneal dialysis market in the region.
Moreover, initiatives by the government to increase the accessibility of dialysis treatment in the region are likely to offer huge opportunities for the players to capture a large customer base.
Major Players in the Hemodialysis Market
Prominent players in this market are Baxter International Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), NIKKISO CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Asahi Kasei Corporation (Japan), Toray Medical Co., Ltd. (Japan), among others
Recent Developments and Trends in the Hemodialysis Market
In 2021, Mar Cor (Cantel Medical Corporation) announced the launch of its innovative EON Portable hemodialysis Water System
In 2020, Fresenius Medical Care AG & Co. KGaA announced the launch of a PVC-free peritoneal dialysis solution bag designed for dialysis therapy performed at home.
In 2020, Baxter International Inc. received FDA approval for De Novo application for Theranova dilayzers designed to deliver expanded hemodialysis (HDx) therapy.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1279
Conclusion
In conclusion, the hemodialysis market is growing owing to its rising demand in the developed and developing countries. It is expected to witness a positive growth in the years to come, as the prevalence of kidney diseases is increasing, and the technology is advancing.
Comments