Fortune Business Insights foresees the disposable dialyzers segment to contribute the highest share in the market. This is attributable to the rapid adoption of dialyzers for hemodialysis in healthcare centers and hospitals worldwide. An important factor boosting the global market is that these dialyzers can be reused and recycled.
The rising incidence of chronic renal failures is anticipated to create lucrative growth opportunities for the global Dialyzers Market, finds Fortune Business Insights in their new study. The study is titled, “Dialyzers Market: Global Market Analysis, Insights, and Forecasts, 2019 – 2026.” According to the study, the market will rise at a CAGR of 4.9% and reach a value of US$ 13707.2 Mn by the end of 2026 as against US$ 9344.7 Mn in 2019.
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Increasing Prevalence of Kidney Disorders to Propel Growth
The increasing prevalence of kidney disorders is creating growth opportunities for the dialyzers market. According to the National Kidney Foundation, about 10% of the population worldwide are suffering from chronic kidney disease. The World Health Organization states that the lack of safe drinking water and inadequate access to optimal sanitation are leading causes increasing the prevalence of chronic kidney disease. Against this backdrop, studies find that people living belo0w the poverty line more susceptible to the disease, which contributes to the high incidence witnessed in low-income countries. This increases the demand for chronic kidney disease treatment.
The risk associated with chronic diseases may result in cancer, diabetes, and hypertension. Moreover, people prefer to opt for dialysis rather than kidney transplantations, keeping in mind the expenditure and complications related to transplants. Again, there is a limited number of donors, which, in turn, will make patients with kidney disorders turn to dialysis, thus boosting the market.
Improper sanitation and lack of safe drinking water are key factors behind the spread of chronic ailments, especially in underdeveloped and developing nations. Hence, improvement in healthcare infrastructure and facilities will further propel growth in the market in the coming years.
However, the market may face rough waters on account of high equipment and maintenance cost for hemodialysis treatment. This, coupled with, the high complications and life risks associated with the reuse of dialyzers may cause hindrance to the market. Nevertheless, the significant rise in the number of end-stage renal diseases (ESRD) patients worldwide will continue to fuel the market.
Launch of Dicap Pro Hemodialyzer by Baxter to Intensify Market Competition
The global market is expected to gain more revenue from the Asia Pacific owing to the rise in a number of end-stage renal disease patients in developing countries of China, and India. In 2018, the market in the Asia Pacific has valued at US$ 3353.9 Mn. This is because of the rapid development in healthcare infrastructure and increasing dialysis system installations across the region.
North America is likely to follow the Asia Pacific in terms of revenue generation owing to the rise in disposable income of people and the presence of well-established medical facilities available in the developed nations of Canada and the U.S.
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With the advent of the internet of things in the healthcare sector, manufacturers are focusing on using IoT for keeping a live record of the patient’s health while ongoing dialysis. Governments are also taking initiatives and helping market players come up with better facilities for hemodialysis treatment, thus propelling growth. In 2017, Baxter launched a Dicap Pro hemodialyzer, a product designed for enhancing kidney dialysis for patients suffering from chronic kidney disorders. Some of the players operating in the global dialyzers market are Toray Medical Co. Ltd., Asahi Kasei Corporation, Nipro Corporation, Fresenius Medical Care, JMS Co. Ltd., Nikkiso Co., Ltd., and B Braun Melsungen.
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