The Global artificial kidney market is poised to register a CAGR of 11.23% during the projected period 2023-2028. This market was valued at USD 1,325.20 million in 2022 and is expected to reach USD 3,025.98 million by 2028.
Impact of Covid-19 on the Artificial Kidney Market:
The artificial kidney market was majorly impacted during the pandemic crisis, due to a decrease in kidney transplant activities across the globe, during the pandemic, there was a 17% global decrease in transplant activity, with kidney transplant being the most affected, thus a decline in kidney transplant positively influenced the artificial kidney market, moreover, the initial phases of the crisis hinders the supply chain of medical devices, including artificial kidneys, furthermore the market has more potential to grow over the projected period due to scarcity of kidney donor across the world. During the virus outbreak, healthcare organizations and research labs primarily focused on developing diagnostic kits, protective equipment and treatment for the virus led to a lack of attention and resources for other healthcare, including kidney-related treatment. People with kidney disorders were more susceptible to getting infected and affected by the pandemic situation, this created a favorable environment for the wearable artificial kidney demand growth, and thus artificial kidney market had impacted both ways due to the pandemic crisis.
MARKET DRIVERS:
The most relevant factor driving the market growth of the artificial kidney market is frequent research and developmental activities. The goal of research and development is to enhance the artificial kidney's functionality and aesthetics. This includes improvements in wearable or implantable choices, biocompatibility, miniaturization, and purification effectiveness. By providing ESRD patients with more practical and effective treatment options, technological advancements stimulate market growth. The variety of treatments accessible to people with ESRD is expanded through research and development in the area of artificial kidneys. Traditional dialysis techniques have drawbacks and may be taxing for patients. Artificial kidney advancements may provide more effective and long-lasting treatment options, improving patient results and standard of life. Thus this factor helps in boosting the overall growth of the artificial kidney market.
Another factor fueling the market growth of the artificial kidney market is increasing incidences of kidney diseases. Annually 2, 00,000 patients globally suffer from kidney diseases. Globally, kidney illnesses such as acute kidney injury (AKI), advanced renal disease (ESRD), and chronic kidney disease (CKD) are growing more common. The world's population is getting older, and kidney problems are more common in the elderly. The amount of people with kidney-related problems rises along with the aging population. Wearable and implantable artificial kidneys have the potential to deliver either ongoing or intermittent renal replacement therapy, lowering the need for conventional dialysis and enhancing the quality of life for patients. As a result, the market for artificial kidneys is expanding as a result of the rising prevalence of kidney illnesses. Hence this factor also boosts the market growth during the projected period.
The third major driver driving the market growth of the artificial kidney market is the rising number of patients suffering from renal failure. In America 130,000 people newly suffer from kidney renal failure, Dialysis or transplantation of kidneys are frequently necessary treatments for renal failure to keep the patient alive. However, there are now very long waiting lists for kidney transplants due to the tremendous demand for donor organs compared to the supply. Artificial kidneys offer either constant or intermittent renal replacement therapy, which lessens the need for organ donations and gives patients who are not good candidates for transplantation a therapeutic choice. Artificial kidneys may provide renal replacement therapy with more affordable options. These devices can minimize healthcare expenses related to managing renal failure by lowering the necessity for hospitalization and offering more effective and targeted therapies. Thus this factor help in rising the demand for the artificial kidney market in upcoming years.
The other factor propelling the growth of the artificial kidney market is the limited availability of donor organs, technological advancement, improving patient outcome and quality of life, rising healthcare expenditure, and research and development initiative majorly contributed to the growth of the artificial kidney market growth during the forecasted period.
MARKET RESTRAINTS:
Some factors negatively impacted the artificial kidney market which causes hinders the growth of the artificial kidney market. The non-regulatory framework in developing countries is a major factor hindering the growth of the artificial kidney market. It's possible that developing nations' laws and policies governing artificial kidneys are sparse or unclear. The research and development, production, and uptake of artificial kidney innovations might be hampered by the lack of defined regulatory frameworks, which can cause uncertainty for producers, healthcare professionals, and patients. Medical device safety and effectiveness are significantly influenced by quality standards. Contrasting to established regulatory organizations in rich countries, quality standards in developing countries may be weaker or inadequate, which hinders the overall growth of the artificial kidney market, another factor hampering the growth of the artificial kidney market is the high cost associated with artificial kidney devices. Particularly in developing nations or areas with limited healthcare resources, artificial kidney devices' high prices may make them inaccessible. The upfront prices or ongoing expenses connected with these devices may be difficult for patients as well as hospitals to afford, which may prevent their adoption and limit patient access to cutting-edge renal replacement therapy. Patients may struggle to pay for the high costs of these devices due to restricted insurance coverage or reimbursement, which could have an impact on the market adoption of these devices. This factor also hampered the overall growth of the artificial kidney market.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 to 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 to 2028 |
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Segments Covered |
By Type, Dialysis, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
Research Report on the Artificial Kidney Market has been segmented and sub-segmented into Market By Type, Dialysis, and Region.
Artificial Kidney Market- Based on Type
Based on the type, wearable artificial kidneys dominate the market in 2022 and are anticipated to continue to dominate the market during the projected period. Rising renal and kidney disorder cases leading to a drastic rise in patients suffering from these diseases, this driver driving this segment in the artificial kidney market during the projected period.
Implantable artificial kidney is another segment anticipated to dominate the market during the projected period. Implantable artificial kidney is under trial, they are undergoing clinical trials in human, and are anticipated to get approval by FDA thus this segment is also expected to dominate the market at the fastest CAGR during the projected period.
Artificial Kidney Market- Based on Dialysis
Based on dialysis type, the hemodialysis segment accounted for the largest market share in 2022 and is anticipated to continue to dominate the market during the projected period. As there is a large number of hemodialysis procedures taking place, Hemodialysis is a term used to describe the domain of renal replacement therapy specifically devoted to hemodialysis therapy. The hemodialysis tools, machinery, and technology are represented by an artificial kidney. It takes care of those who have advanced renal disease or other diseases that call for frequent hemodialysis. These therapies contribute to the general management of renal failure by assisting with the removal of waste materials, maintaining electrolyte balance, and controlling fluid levels within the body. This factor helps in boosting the overall growth of the market in upcoming years
Peritoneal dialysis is another segment expected to dominate the market at the fastest CAGR during the projected period. Due to ease, flexibility, and ongoing treatments, the peritoneal dialysis sector is predicted to hold a sizable proportion of the market. A type of renal replacement therapy, to filter waste materials and extra fluid from the blood. Home peritoneal dialysis avoids the requirement for regular trips to a dialysis facility. Patients can now manage their treatment with more independence and flexibility thanks to this. Dialysis at home is an appealing alternative because it saves patients time and money on travel and related expenses. Unlike hemodialysis, which is typically done for a few hours, peritoneal dialysis offers the benefit of ongoing therapy throughout the day. Hence this segment is expected to dominate the market during the projected period.
Artificial Kidney Market- Based on Region:
The North-America region is expected to dominate the market at the highest CAGR during the forecasted period. The study and development of cutting-edge medical technologies, such as artificial kidneys, are actively pursued by a large number of well-known research organizations and centers in North America. Research and development for artificial kidneys is heavily financed and supported by research institutions. In the area of artificial kidneys, this enables them to conduct research, clinical trials, and innovation. The region has developed healthcare systems, incurs significant medical costs, and is becoming more and more aware of the advantages of artificial kidney technologies. These factors fuel the market growth of artificial kidneys in this region.
The Europe region is also expected to dominate the market at a healthy CAGR during the forecasted period. Because Europe has a developed healthcare infrastructure, it is anticipated that the market would expand quickly throughout the projection period. The healthcare infrastructure in Europe comprises cutting-edge hospitals and medical facilities with a focus on kidney care. These establishments have the knowledge and assets required to assist in the creation, production, and utilization of artificial kidneys. These factors fuel the market growth of the artificial kidney market in this region.
The Asia-pacific region is also expected to dominate the artificial kidney market at the fastest CAGR during the forecasted period. The market is expanding due to factors such as rising patient purchasing power, an increase in the prevalence of diabetes and hypertension, bettering compensation conditions, and improvements in medical infrastructure and technology. This driver majorly drives the market growth during the projected period.
Latin-America region is also expected to dominate the market at a significant CAGR during the projected period. The aging population in Latin America is predicted to increase the need for wearable that can improve dialysis procedures and lessen ESRD side effects to maintain patients' quality of life.
The Middle-east and African regions also expect to dominate the market at a significant CAGR during the projected period
KEY MARKET PLAYERS:
The prominent key player in the artificial kidney market is Kawasumi Laboratories, Inc., Nikkiso, Fresenius, Asahi Kasei Medical Vo., Ltd, Xcorporeal, Baxter, Merit Medical Systems, Medtronic, NIPRO Medical Corporation, DaVita, B. Braun Melsungen AG, Blood Purification Technologies Inc., and AWAK Technologies Pte. Ltd, Triomed AB, and others. Led the Artificial kidney market globally.
RECENT MARKET DEVELOPMENT:
Frequently Asked Questions
Some key challenges in the artificial kidney market include developing devices with long-term reliability, achieving biocompatibility, and overcoming immunological responses. The complex nature of the kidney and the need to ensure safe and effective functioning pose significant hurdles in this field.
Yes, there are several promising advancements in the artificial kidney market. Researchers are exploring the use of bioengineered or regenerative approaches, such as implantable kidneys or tissue engineering, to create more functional and long-lasting artificial kidney devices.
The artificial kidney market is projected to experience substantial growth in the coming years. Factors such as the increasing prevalence of kidney disease, rising demand for renal replacement therapies, and advancements in technology are expected to drive market expansion and innovation.
The growth of the artificial kidney market is driven by factors such as the increasing prevalence of chronic kidney diseases, rising geriatric population, technological advancements in renal replacement therapy, and the growing demand for efficient and innovative treatment options for kidney failure.
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