During the forecast period (2019-2025), the global artificial kidney market size is estimated to account for USD 2,795.01 Million and will grow at a significant CAGR of 95.54%.
The global artificial kidney market is expected to grow at a rapid pace. The increasing research and development for enhancement of the dialysis process, rise in cases of chronic kidney diseases, and low availability of kidney donors are some of the factors influencing the growth of the market. However, issues with the size of artificial kidney and engineering problems associated with the devices are expected to hamper the growth of the market.
The rise in awareness about renal failure diseases and changing lifestyle is expected to drive the market growth. One in three Americans is at risk for developing kidney disease due to rapidly rising rates of diabetes and high blood pressure. Moreover, the National Institutes of Health (NIH), declared March as National Kidney Month to raise awareness about chronic kidney diseases. The rise in awareness about chronic kidney diseases through campaign launches to opt for ambulatory dialysis will further increase the demand for the artificial kidney.
On a regional basis, the market has been segmented into four major regions, including the Americas, Europe, Asia-Pacific, and Middle East Africa.
Americas are anticipated to dominate the global artificial kidney market owing to the presence of major players, rising research development by private public organizations, and rise in the number of cases of chronic kidney diseases. Europe is expected to account for the second-largest market in the global artificial kidney market owing to the rise in technological advancement in the field of medicine technology and the growing geriatric population. Furthermore, Asia-Pacific expected to be the fastest-growing segment owing to a rise in the prevalence of renal failure cases, a rise in disposable income, increasing investment by government bodies, and rising opportunities for major players to invest in the region. The Middle East Africa accounted for the least market share. However, untapped markets and a rise in awareness among patients about the advantages of artificial kidney would provide growth opportunities in the coming years.
The Global Artificial Kidney Market has been segmented into Type and Dialysis.
By type, the market has been segmented into the wearable artificial kidney and implantable artificial kidney. The wearable artificial kidney is expected to hold the largest market share owing to the increasing number of patients suffering from renal failure and the technical advantages of artificial organs.
On the basis of dialysis, the global artificial kidney market is bifurcated into hemodialysis, peritoneal dialysis, and combination. The hemodialysis segment accounted for the largest market share owing to the rise in the number of hemodialysis procedures.
Some of the key players in the global artificial kidney market are Kawasumi Laboratories, Inc. (Japan), Blood Purification Technologies Inc., AWAK Technologies Pte.Ltd.(Singapore), Triomed AB. (Sweden), Asahi Kasei Medical Vo., Ltd, and others.
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