New York, June 05, 2023 (GLOBE NEWSWIRE) -- The dialysis market revenue is predicted to surpass 155 billion by the end of 2033 and is projected to attain 5% growth rate till 2033, as per latest study by Research Nester.
Rising prevalence of chronic kidney disease and rising new product approvals are expected to boost the size of the global dialysis market during the forecast period. According to the Centers for Disease Control and Prevention (CDC), it is estimated that more than one in seven adults in the United States, or 15% of adults, have chronic kidney disease, which was about 37 million in the year 2021. Kidney disease progresses in five stages. End-stage renal disease (ESRD) or kidney failure is what medical professionals refer to as "stage 5 kidney disease," when the kidneys are currently performing 10% to 15% of their usual duties. To remain alive, one might require dialysis or a kidney transplant. Some people undergo dialysis while they are waiting for a transplant. As transplant procedures very often take a long time, the chances of dialysis increase. Hence, this is also expected to fuel the growth of the market.
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Increasing Chronic Kidney Diseases Throughout the World to Drive Market Growth
Dialysis is one of the treatments for patients with impaired renal function. In renal failure, the kidneys cannot filter blood properly. This causes waste and toxins to accumulate in the bloodstream. Dialysis removes waste and excess water from the circulatory system and takes over the function of the kidneys. Patients with end-stage renal disease (ESRD) or renal failure may require dialysis. Kidney damage can be caused by accidents or illnesses such as diabetes, lupus, and high blood pressure. Chronic kidney disease has been established as a progressive disease that affects more than 10 percent of the general population, or more than 800 million people worldwide. It is more common in older people, women, racial minorities, and people with diabetes or high blood pressure. Chronic kidney disease poses a particularly heavy burden in low and middle-income countries, which are least prepared to deal with its consequences. It has become one of the leading causes of death worldwide and is one of the few non-communicable diseases that has shown an increase in related deaths over the past two decades. The large number of people affected by chronic kidney disease and its significant adverse effects should intensify efforts for better prevention and treatment. Hence, this is estimated to be a major factor propelling the growth of the global dialysis market over the forecast period.
Increasing Healthcare Expenditure to Drive the Market Growth in North America Region
The dialysis market in the North American region is estimated to garner the largest revenue by the end of 2033. The regional growth can be largely attributed to the rising healthcare costs and disposable income that are driving demand for new product development. According to CMS, U.S. national health care spending increased 9.7% in 2020 to reach USD 4.1 trillion (USD 12,350 per capita). In addition, the presence of a strong healthcare network in the region and the availability of regulatory support guidelines have also contributed to finding more viable solutions for developing efficient treatment and diagnostic options. In addition, it encourages market players to decide to invest in more research. It is expected to contribute to market growth in the region. Moreover, the insurance companies in North America offer efficient reimbursement policies to the patients going through dialysis, which encourages the patients to opt for dialysis. Hence, this is also estimated to add to the market growth significantly.
Global Dialysis Market: Key Takeaways
- Market in North America to propel highest growth
- The hemodialysis segment to garner the highest growth
- Market in Asia Pacific to grow at a highest rate
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Rising Geriatric Population to Drive Growth in Asia Pacific
The dialysis market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2033. The growth of the market in this region can primarily be attributed to the constantly growing older population throughout the region. The elderly is more vulnerable to kidney diseases that necessitate dialysis treatment. The population of Asia-Pacific is aging faster than that of any other region. Among the total population, 60 percent, or 630 million people, are now 60 years of age or older. Its population is projected to reach 1.3 billion by 2050. Additionally, the government's role in raising awareness regarding the use of dialysis is expected to boost market growth in the region. Moreover, an increasing number of CKD patients, increased funding for medical infrastructure, and inactive lifestyles followed by unhealthy diets are expected to affect the growth of the dialysis market in the region.
The hemodialysis segment is anticipated to hold the largest share of the dialysis market over the forecast period. The growth of the segment can be attributed to the efficiency of hemodialysis to remove toxic substances, the increased adoption of home care for end-stage renal disease, and increased cases of hypertension. More than 670,000 people in the United States died from hypertension in 2020, according to the Centers for Disease Control and Prevention. Hemodialysis is a procedure that cleans the blood using special filters and dialysis machines called artificial kidneys or dialyzers. A doctor needs access to the blood vessel to introduce blood into the dialyzer. To accomplish this, a minor surgical procedure is typically performed on the arm. Hemodialysis can be done at home, in a hospital, or at another dialysis facility. The patient's physician selects the ideal location according to the patient's medical needs and preferences.
Dialysis market from the in-center segment is anticipated to hold a significant share over the forecast period. Dialysis is a procedure that removes waste products and excess water from the blood when the kidneys are unable to perform their function. Dialysis patients frequently visit treatment centers, but it is easier and more convenient to receive treatment at the same hospital or center where they were diagnosed. Furthermore, following the in-center dialysis, the additional medical reports can be directly forwarded to the center doctor, and the patient can then have a check-up directly after the dialysis at the same center, providing greater convenience. According to data from 2018, more than 60% of patients opted for in-center dialysis.
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Key players includes in the global dialysis market are Baxter International, Inc., Nikkiso Co., Ltd., MEDIVATORS, Inc., NIPRO Corporation, Diaverum AB, B. Braun Melsungen AG, DaVita, Inc., Asahi Kasei Corporation, NxStage Medical, Inc., Fresenius Medical Care AG & Co. KGaA., and other key market players.
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