Hemodialysis and Peritoneal Dialysis Market will achieve 4% CAGR up to 2024

U.S. dialysis market dominated North America region and was valued at USD 24 billion revenue in 2017 owing to growing geriatric population suffering from various renal diseases.

Sellbyville, United States – January 25, 2019 /MarketersMedia/ —

UK dialysis market is estimated to witness lucrative CAGR of 4.9% over the analysis timeframe, owing to the rising prevalence of chronic kidney diseases (CKD) in the country. According to the Kidney Care UK, around 3 million people in the UK suffer from CKD. More than 3,000 kidney transplants take place every year. Such factors will increase the demand for dialysis treatment thereby fostering the regional growth.

Global Dialysis Market will surpass USD 104 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing R&D activities and expenditure by companies such as Nipro, Fresenius Kabi, Baxter will add innovations in new dialysis device. For instance, in June 2017, in China Nipro planned to increase production of filters that are used in dialysis treatment . This will increase the demand for technologically advanced dialysis product that will ensure dialysis market growth over the forecast period. However, product recalls are a major concern that may restrain dialysis industry growth during the analysis time-frame.

Increasing prevalence of renal diseases in developed as well as developing countries will drive the dialysis market growth over the forecast period. According to the National Kidney Foundation 2015 data, around 10% of the population worldwide is suffering from chronic kidney diseases. Shortage of kidney donors worldwide will surge the demand for dialysis treatment thereby positively influencing the industry growth.

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Peritoneal dialysis segment accounted for USD 7.8 billion in 2017 and is estimated to show considerable growth over forecast period. The growth is attributable to ever-increasing burden of kidney diseases across the globe. Peritoneal dialysis treatment is less invasive and easy to perform and hence preferred by a large patient population. Furthermore, availability of subsidies to peritoneal dialysis beneficiaries should further increase its adoption over the coming years.

Hemodialysis segment will witness 3.8% CAGR over the forecast timeframe and the segmental growth will be attributed to increasing mortality rate due to kidney failure. Moreover, availability of superior quality hemodialysis product and services augments business growth.

Consumables segment was valued at USD 10.3 billion in 2017 and is anticipated to grow considerably over the estimated timeframe. Consumables such as dialyzers, catheters and access products need replacement at regular intervals. Contaminated consumables such as reused AV fistula needles may pose a great threat to life. Therefore, mandatory replacement of consumables has increased their demand thereby, escalating business growth.

Home dialysis segment accounted for 29.1% revenue share in 2017 and the segmental growth can be attributed to the growing geriatric population that suffers from chronic kidney diseases. According to National Kidney Foundation, around 10% of the global population is affected by chronic kidney diseases and majority of them constitute of geriatric population. Home dialysis is affordable and also provides ease and convenience that increases its preference and will upsurge the dialysis industry growth over forthcoming years.

U.S. dialysis market will grow at 3.9% during the forecast timeline owing to technological advancement. Moreover, availability of advanced healthcare infrastructure and increasing prevalence of renal diseases further boosts business growth in the country. As per the U.S. Renal Data System Annual Data Report in 2015, over 660,000 Americans were affected by kidney failure or end stage renal disease. Growing adoption of dialysis treatment among patient population as well as strong foothold of key industry players in the U.S. will further favor business growth.

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Some of the notable players operating in dialysis market include Asahi Kasei Corporation, B. Braun Melsungen, Baxter International, Fresenius Medical Care, JMS, Kawasumi Laboratories, Medtronic, Nikkiso, Nipro, Toray, DaVita, U.S. Renal Care, Satellite Healthcare and Rogosin Institute. Industry players are majorly focusing on inorganic strategies such as acquisitions, partnership, merger and new product launch to enhance their existing product portfolio and strengthen position in the market.

Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/dialysis-market

Source URL: https://marketersmedia.com/hemodialysis-and-peritoneal-dialysis-market-will-achieve-4-cagr-up-to-2024/475847

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