Artificial kidney market outlook and analysis by type and dialysis - forecast till 2032. The global artificial kidney market is likely to touch USD 7.00 billion at a whopping 60.33% CAGR between 2022- 2032, according to the recent report by Market Research Future (MRFR). A portable device with cutting-edge technology, an artificial kidney allows people to receive dialysis support whenever and wherever they need it. It mimics the functioning of a real kidney, potentially eliminating the need for dialysis. This artificial kidney helps to provide patients with ongoing blood filtration when their kidneys are severely damaged or not working at all. Dialysis trips to hospitals are reduced, and it helps to meet the shortage of kidney donors needed for transplants.
The growth of the artificial kidney market globally is attributed to numerous reasons. According to the latest MRFR report, these factors include the growing demand for technologically advanced devices, the prevalence of kidney disease, the expansion of research and development, and the scarcity of kidney donors.
Contrarily, the enormous size, immobility, and engineering problems with the device may restrain the artificial kidney market's expansion during the anticipated time frame.
Key Players
Key players profiled in the global artificial kidney market report include AWAK Technologies Pte.Ltd (Singapore), Asahi Kasei Medical Vo., Ltd, Kawasumi Laboratories, Inc. (Japan). Triomed AB. (Sweden), and Blood Purification Technologies Inc. Industry players have encompassed several strategies to stay ahead in the competition and also cater to consumers growing needs such as partnerships, joint ventures and collaborations, geographic expansions, extensive RD activities, contracts, new product development, and contracts.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global artificial kidney market share based on dialysis and type.
By type, the global artificial kidney market is segmented into an implantable artificial kidney wearable artificial kidney. Of these, the wearable artificial kidney segment will lead the market over the forecast period for the technical benefits of artificial organs coupled with the rising patient population having renal failure.
By dialysis, the global artificial kidney market is segmented into combination, hemodialysis, and peritoneal dialysis. Of these, hemodialysis will dominate the market over the forecast period.
Regional Analysis
Based on the region, the artificial kidney market covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will dominate the market over the forecast period. Factors boosting the artificial kidney market growth in the region include a huge patient population having kidney disease, increasing RD by different private and public organizations, and the presence of several medical device companies. Besides, the rising prevalence of chronic kidney diseases is also adding market growth in the region.
The artificial kidney market in Europe is predicted to hold the second-largest share over the forecast period. Factors boosting the artificial kidney market growth in the region include the rising standards for treating chronic kidney disease, burgeoning demand for procedures that are minimally invasive, and increasing use of devices that are technologically advanced. Besides, the growing geriatric population and innovations in medicine and technology are also adding market growth in this region.
The artificial kidney market in the APAC region is predicted to grow at a fast pace over the forecast period for increasing opportunities for key players for investing in the region, rising investments by government bodies, increase in disposable income, and rising prevalence of renal failure cases. Besides, the large target population in India China is also adding market growth in the region.
Over the projection period, the MEA artificial kidney market is anticipated to have the smallest share. However, expanding markets and raising patient knowledge of the advantages of artificial kidneys are likely to present significant prospects in the future.
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