Pune, India, Dec. 06, 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, titled “Dialysis Market Size, Share & COVID-19 Impact Analysis, By Type (Products and Services), By Dialysis Type (Hemodialysis and Peritoneal Dialysis), By End User (Dialysis Centers & Hospitals and Home Care), and Regional Forecast, 2020-2027”.
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. Unusually high protein levels in urine and abnormal blood work have been the indicators for kidney damage in COVID-19 patients. Furthermore, patients developing severe kidney problems are required to undergo dialysis treatments to prevent additional damage from the infection. Thus, the coronavirus pandemic is expected to boost the market growth throughout 2020.
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- Assessment of support provided by governments at various levels to businesses most severely impacted by the COVID-19 pandemic; and
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As per the report findings, the market value was at USD 90.33 billion in 2019. The report offers the following:
- Careful study of all the market segments;
- Detailed analysis of the factors driving and restraining the market;
- Comprehensive insights into the regional dynamics impacting the market; and
- In-depth profiling and examination of the key market players and their various market strategies.
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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.
Industry Developments:
- May 2020: Ireland-based medical device leader, Medtronic, clinched the De Novo clearance from the US FDA for its machine devised to provide continuous dialysis for critically ill children. The approval will allow doctors and physicians to deliver continuous renal replacement therapy (CRRT) to pediatric patients.
- October 2019: The US-based kidney care specialist, Fresenius Medical Care North America, received ‘breakthrough device’ designation from the US FDA for its new hemodialysis system. Still under development and incorporated with Endexo, the antithrombogenic additive, the new device is designed to blood clotting in patients without using blood thinners.
List of Key Players in Dialysis Market:
- 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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