Dialysis Equipment Market - Forecast(2021 - 2026)
According to a 2018 study conducted by University of California San Francisco, an estimated 2 million people in the world are suffering from end-stage renal disorder (ESRD.) In the United States of America, the disease is expanding at a rate of 5% per year. These alarming statistics are fueling the growth of the dialysis equipment market as the demand for a fast yet effective artificial kidney system rises in the world. Since kidney transplantation is a complicated process owing to the elusiveness of kidney donors and difficulty in finding the right match, most patients are put on dialysis either temporarily or permanently. Hemodialysis segment of the dialysis equipment market is expected to grow with a compound annual growth rate (CAGR) of 3.5% during the forecast period of 2019-2025. A single hemodialysis treatment in the United States of America costs around $500 dollars per person. Needless to say, dialysis has been an unaffordable procedure for kidney treatment, which is why the dialysis equipment market is experiencing unprecedented growth for making kidney healthcare more affordable.
During the forecast period of 2019-2025, the market is projected to grow with a noticeable CAGR of 4.4%. This will be considerable growth from its 2018 market size which stood at $14.4 billion.
Dialysis Equipment Market Outlook:
When a person’s kidneys are impaired beyond any feasible treatment, the process of dialysis comes to the rescue for performing the same functions as the defunct organs, only externally. End stage kidney failure (ESRD) or acute kidney injury (AKI) utilize dialysis in patients as their kidneys can no longer function, while their body still requires regular cleansing.
Dialysis is effective in controlling the blood pressure, removal of waste, salt and excessive water, and maintaining an optimum level of imperative minerals in the body like potassium or sodium. There are two different kinds of dialysis- hemodialysis and peritoneal dialysis. While in the former process, an external artificial kidney is used for cleansing the blood, the peritoneal dialysis makes use of a catheter that is placed inside the abdominal area. In 2018, North America led the dialysis equipment market geographically with a regional share of 34%. This was possible through constant innovation that is taking place in the region and taking the form of accessible, and portable dialysis equipment.
Dialysis Equipment Market Growth Drivers:
Ø Need For Dialysis Among Geriatric Population
As per the 2017 World Population Prospects data assembled by the United Nations after careful assessment, around 2.1 billion older persons are expected to make up our entire population by the year 2050.[1] Geriatric population is more likely to suffer from end stage renal disorders, and the demand for regular dialysis treatment is particularly high from them. This population is driving the growth of the dialysis equipment market and inspiring innovation in the field.
Ø Chronic Diseases Are On An Exorbitant Rise
According to World Health Organization, non-communicable, chronic diseases including diabetes, hypertension, cardiovascular diseases, and lung diseases are responsible for around 70% of all deaths around the world.[2] Illnesses like diabetes and hypertension generate a high demand for the dialysis equipment market as more and more people become susceptible towards suffering from them due to lifestyle changes.
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