The artificial kidney or renal replacement therapy is a technology used to temporarily replace the function of failing kidneys among patients suffering from kidney failure. These devices treat kidney failure by removing waste and extra fluid from the blood, and are vital for keeping patients alive until they receive kidney transplants. The global artificial kidney market offers a variety of products including wearable artificial kidneys, implantable bioartificial kidneys, and desktop artificial kidneys.
The global artificial kidney market is estimated to be valued at US$ 3358.54 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the artificial kidney market is the rising prevalence of chronic kidney diseases globally. As per data published by the International Society of Nephrology, approximately 850 million people worldwide are affected by kidney diseases. Chronic kidney disease causes irreversible damage to kidneys and often leads to complete kidney failure requiring dialysis treatment or kidney transplantation. Furthermore, risk factors associated with kidney diseases such as diabetes, hypertension, and obesity are growing rapidly worldwide. This is expected to fuel demand for dialysis equipment and devices like artificial kidneys.
Rising geriatric population is another major driver aiding the artificial kidney market growth. Age is one of the major risk factors for developing chronic kidney diseases. People aged above 65 years account for over 70% of new cases of kidney failure. According to the United Nations, the global geriatric population is projected to double to over 2 billion by 2050. This demographic shift will augur well for the artificial kidney market over the forecast period.
SWOT Analysis
Strength: Artificial kidney market has strong growth potential due to growing prevalence of kidney failure cases globally. Rising geriatric population and increasing incidence of diabetes and hypertension are expected to propel demand. Advancements in bioengineering technologies have enabled development of miniaturized and portable artificial kidneys with improved functionalities.
Weakness: High costs associated with artificial kidneys limit their widespread adoption. Existing dialysis equipment only provides basic kidney functions and do not perfectly replicate all functions of normal kidneys.
Opportunity: Growing investments by market players as well as government initiatives to increase accessibility in developing nations present lucrative opportunities. Further innovations to develop fully implantable and more sophisticated artificial kidneys will expand applications.
Threats: Significant research challenges around developing bio-compatible materials that do not induce immune responses or blood clotting. Stringent regulatory approval process delays market launch of novel products.
Key Takeaways
The global Artificial Kidney market is expected to witness high growth over the forecast period of 2024 to 2031. The global Artificial Kidney Market is estimated to be valued at US$ 3,358.54 million in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Regional analysis: North America currently dominates the market and is expected to maintain its leading position throughout the forecast period. This can be attributed to rising prevalence of kidney diseases, availability of advanced healthcare facilities as well as presence of key players in the region. Asia Pacific is projected to experience fastest gains and emerge as the fastest growing regional market between 2024-2031 backed by increasing healthcare expenditure, large patient population and growing medical tourism.
Key players: Key players operating in the Artificial Kidney market are KAWASUMI LABORATORIES, INC., Nanodialysis, Fresenius SE & Co KGaA, Baxter, ASAHI KASEI MEDICAL CO., LTD, Medtronic, DaVita Inc, Merit Medical Systems, Nipro Medical Corporation, Nikkiso Co Ltd, Braun Melsungen AG and AWAK Technologies. These major market participants are undertaking strategic initiatives such as new product launches, agreements and collaborations to strengthen their market position.
Global Artificial Kidney Market Research Report: By Type (Wearable Artificial Kidney, Implantable Artificial Kidney) and Dialysis (Hemodialysis, Peritoneal Dialysis, Combination) - Forecast till 2025Industry Overview The global artificial kidney market size is likely to touch USD 2,795.01 million at a 95.54% CAGR between 2019-2025, as per the latest Market Research Future (MRFR) report.
An artificial kidney or hemodialyzer helps to filter the blood of an individual having kidney damage.
These devices are lightweight and rely on batteries that are long-lasting, highly permeable membranes, new filtering materials, and advances in miniaturization.
Such factors, according to the MRFR report, include rising prevalence of kidney disease, minimum/less availability of kidney donors, an increase in kidney transplant surgeries, rising disposable income, and advanced healthcare facilities.
Of these, haemodialysis will have a major share in the market over the forecast period for the increasing number of haemodialysis procedures.
However, increasing awareness about the benefits of artificial kidney among patients and untapped markets may boost the market growth in the upcoming years.
