Jan 27, 2020 (Heraldkeepers) -- Kidneys perform various crucial functions in the body, such as blood filtration, blood pressure regulation, hormone generation that helps produce red blood cells (RBCs), bone health promotion, and others. Chronic kidney disease (CKD) is a common condition that is known to affect the quality of life of a patient due to improper functioning of kidneys in the body, leading to several other disorders. Kidney dialysis is one of the most preferred modes of treatment for severe conditions, such as end-stage CKD, wherein both the kidneys are damaged. Such acute conditions essentially require either kidney transplantation or regular dialysis. The damage is usually irreversible and can result in life- threatening health issues. Thus, in order to mitigate such problems, kidney transplant is highly recommended. However, getting a transplantation done is quite difficult as it requires both the kidney donor and the patient to have the same blood group for maintaining the compatibility of the transplant with the other vital organs of the body.
The global kidney dialysis equipment market was valued at US$ 16,874.5 million in 2018, which is expected to grow tremendously, exhibiting a CAGR of 6.6% during the forecast period (2019-2027).
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Growing prevalence of CKD among the geriatric population is one of the major factors likely to support the global kidney dialysis equipment market growth. A significant number of people in their old age are likely to experience kidney failures. As per the report published by the National Center for Biotechnology Information (NCBI) in 2014, the prevalence of CKD across the Asia Pacific region, specifically among females, is rising significantly at a rate of 18.0%. This, in turn, is expected to propel the growth of the Asia Pacific kidney dialysis equipment market. Moreover, it was revealed in a 2017 study conducted by the Dorset County Hospital in Dorchester, England, published in the Clinical Kidney Journal, around 124 patients above the age of 80 years had been suffering from CKD, of which 115 patients were suffering from stage 4 CKD and 9 patients, from stage 5 CKD.
The geriatric population more susceptible to various kidney disorders due to reduced immunity and other comorbid disease conditions. Diabetes mellitus is a very common disorder that gives rise to several other health conditions. Kidney failure is one of the common health conditions triggered by diabetes. Diabetic patients with improper treatment may develop abnormal functioning of the kidneys, and in some cases, there are chances of total failure of the organs.
Rising prevalence of kidney diseases is expected to drive the demand for dialysis equipment, which would, in turn, encourage manufactures to launch newer products. For instance, in January 2019, Fresenius Medical Care launched a 4008A dialysis machine.
Moreover, increasing demand for home care has led manufactures to focus on the development of new, innovative kidney dialysis equipment. For instance, in July 2019, CVS Health Corporation commenced the clinical trial of its HemoCare Hemodialysis System, a dialysis machine developed in partnership with Segway designer Dean Kamen. The dialysis machine was developed for home care settings.
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The global kidney dialysis equipment market covers various regions, including North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. North America is expected to hold the dominant position in the global kidney dialysis equipment market in the near future, owing to increasing incidence of chronic kidney disease (CKD) in the U.S. For According to the Centers for Disease Control and Prevention (CDC) 15% of the U.S. population was estimated to suffer from chronic kidney disease in 2019. The same source revealed that women in the U.S. are more prone to this condition as compared to men.
Moreover, Europe is projected to witness significant growth in the global kidney dialysis equipment market, owing to the presence of key market players in the region, such as Fresenius Medical Care, B. Braun Melsungen AG, and others. These companies are focused on developing new products for CKD treatment.
The most renowned companies operating in the global kidney dialysis equipment market include Fresenius Medical Care AG & Co, Baxter International, Inc., Nipro Corporation, B. Braun Melsungen AG, Nikkiso Co, Ltd., Asahi Kasei Corporation, NxStage Medical, Inc., Guangdong Biolight Meditech Co., Ltd, Dialife SA, and DaVita Inc. These market players focus on expanding their business by adopting various developmental strategies. For instance, in 2017, Fresenius Medical Care acquired up to 70% of the total equity of the Kunming Wuhua Health Hospital (Wuhua Hospital) in China. This marked the company's first joint venture in China for renal care services and chronic disease management.
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