Hemodialysis and Peritoneal Dialysis Market to grow at a CAGR of 5.97% during 2024-2028
The Hemodialysis and Peritoneal Dialysis Market is expected to grow at a CAGR of 5.97% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6.61 billion. The global hemodialysis and peritoneal dialysis market have experienced significant growth due to technological advancements, particularly in the development of wearable and portable dialysis devices. These innovations, such as wearable artificial kidneys, aim to improve patient mobility, convenience, and overall quality of life. These portable devices function similarly to a natural kidney, continuously and autonomously performing hemodialysis. Designed for lightweight and compactness, they enable patients to perform daily activities while receiving treatment. Notable examples include the Wearable Artificial Kidney (WAK) by Awak Technologies Pte Ltd, which represents a pioneering technology in this field. This device offers increased mobility and independence compared to traditional hemodialysis machines.
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Technavio analysts predict that the Devices subsegment will lead the Product segment during 2024 and 2028 The devices segment in the global hemodialysis and peritoneal dialysis market is a significant contributor, offering a range of indispensable medical equipment and technology for the delivery of renal replacement therapy. This segment comprises dialysis machines, catheters, tubing sets, and related accessories, as well as advanced innovations to improve treatment efficacy, patient safety, and overall dialysis experience. The hemodialysis devices sub-segment consists of essential components, including hemodialysis machines, hemodialyzers, bloodline tubing sets, and water treatment systems. These devices are integral to the extracorporeal blood purification process, facilitating the elimination of waste products, excess fluid, and toxins from the bloodstream of patients suffering from renal insufficiency disorders.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish rising prevalence of ckd globally
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The global market for renal replacement therapies, including hemodialysis and peritoneal dialysis, is experiencing significant growth due to the increasing prevalence of acute kidney disease (AKD) and chronic kidney disease (CKD). According to recent studies, the prevalence of CKD is on the rise, with an estimated 10% of the global population affected. Dialysis services providers are under pressure to meet the increasing demand for dialysis treatment, which can be life-saving for patients with kidney failure. However, dialysis treatment comes with risks and complications, such as mortality, peritonitis, vascular access-related complications, and cardiac diseases. Peritonitis, an infection of the peritoneal membrane, is a common complication in peritoneal dialysis patients. Vascular access problems are also a significant concern for hemodialysis patients. Technology advancements, such as wearable devices and improved hemodialyzers, are helping to mitigate some of these risks and improve patient outcomes. Renal disease patients also have the option of kidney transplants, but the shortage of organ donors remains a significant challenge. Healthcare expenditure on renal replacement therapies is expected to continue to rise, making it essential for dialysis services providers to optimize their operations and improve patient care.
According to Technavio, the global hemodialysis and peritoneal dialysis market represent a significant segment of the broader global healthcare equipment market. This market encompasses manufacturers and innovators of various diagnostic tools and devices, specifically capital equipment, instruments, implants, accessories, and consumables, which contribute to the diagnosis, monitoring, and treatment of various diseases. The size of the global healthcare equipment market is determined by the consolidated revenue generated by these manufacturers. The healthcare equipment sector encompasses several segments, including Devices, which comprises advanced, differentiated, and clinically tested data-driven devices.
The Hemodialysis and Peritoneal Dialysis Market is experiencing significant growth, fueled by the rising prevalence of ckd globally. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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