Pune, India, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The global dialysis market size is projected to reach USD 177.56 billion by 2027, exhibiting a CAGR of 7.7% during the forecast period. Complications caused in the renal system by the COVID-19 infection is likely to spike the demand for dialysis during the current year, states Fortune Business Insights™ in its report.
The COVID-19 infection, according to researchers at the Johns Hopkins University, has been affecting kidney function in patients, even among those who have no history of kidney disease or any underlying renal condition. The university’s preliminary reports found that around 30% of the coronavirus patients in New York and China suffered from moderate to severe kidney malfunction during their hospital stay.
KEY INDUSTRY DEVELOPMENTS:
- October 2019 – The USFDA granted breakthrough device designation to a new hemodialysis system by Fresenius Medical Care. The product, which is currently in development, aims to prevent blood clotting without the use of blood thinners in most patients.
- August 2017 - B. Braun Medical Inc. announced that it has received USFDA clearance for its hemodialyzer, Diacap Pro. Its advances in fiber technology provide a lower comparable surface area and an increased molecule-to-surface contact.
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Rising Preference for Kidney Transplantation to Hamper Market Growth
Patients around the world suffering from kidney disease or damage are showing an increasing inclination towards kidney transplantation. The Global Observatory on Donation and Transplantation reported that 84,347 kidney transplant procedures were performed across the globe, indicating a 5.5% rise from 2014 levels. Similarly, the US Government Information on Organ Donation and Transplantation estimated that there were over 116,000 patients on the national transplant waiting list in August 2017.
This preference for transplantation over dialysis procedures is mainly on account of the promise of better quality life and lower risk of death in end-stage kidney disease patients. On the other hand, dialysis requires hours of treatment at hospital or a clinic; with patients reporting low blood pressure, nausea, and abdominal cramps after the procedure was completed. To avoid the inconvenience and pain caused by dialysis, kidney patients increasingly prefer getting a new kidney, which bodes well for the dialysis market growth.
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North America to Hold Dominating Position in the Market; Asia-Pacific to Offer Bright Prospects
High incidence of chronic kidney disease (CKD) and end-stage renal disease (ESRD) enabled North America to register a market size of USD 36.46 billion in 2019. In 2020, the region is expected to tighten its hold on the market share owing to the skyrocketing number of COVID-19 cases in the US, which is surging the demand for these services in the region.
In Asia-Pacific, on the other hand, the market stands to benefit considerably on account of rising government funding in India and China to enhance access to renal care. For instance, China formulated specific regulations in 2016 to establish standards for managing hemodialysis centers in the country. The market in Europe is also anticipated to grow steadily owing to the robust healthcare infrastructure in the continent.
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Regulatory Backing to Novel Products to Encourage Innovation among Players
Development of innovative dialysis solutions has been the mainstay strategy of majority of the players in this market. These innovations are finding strong support from regulatory bodies such as the US Food and Drug Administration (FDA), which is further encouraging other players to invest in R&D and bring out unique solutions for kidney patients.
List of Players Covered in this Market Report:
• Nipro Corporation
• Medtronic
• Becton, Dickinson and Company
• B. Braun Melsungen AG
• Fresenius Medical Care AG & Co. KGaA
• Asahi Kasei Corporation
• Diaverum Healthcare Partners
• Baxter International, Inc.
• DaVita Healthcare Partners, Inc.
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Market Segmentations:
By Type
• Products
• Services
By Dialysis Type
• Hemodialysis
• Peritoneal Dialysis
By End User
• Dialysis Centers & Hospitals
• Home Care
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia-Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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