Hemodialysis Machine Market Report: Global Forecast and Regional Analysis, 2019-27
An overview of conceptual frameworks, analytical approaches of the hemodialysis machine market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The hemodialysis machine market is expected to grow at a significant rate in the near future.
Hemodialysis Machine Market Dynamics
Hemodialysis machine is healthcare equipment that filters out waste product and excess water from blood. It is mainly used for those patient or individuals having kidney failure condition. When kidney stops functioning properly or naturally and stops filtering blood due to any factor such as damage to kidney or dysfunction, that time it can lead to serious health issue. However, hemodialysis machine act as an artificial kidney in this situation and pump the blood to take out waste product from human body. The hemodialysis machine includes many plastic tubes that act as a carrier for removed blood and the blood get filter out from a bundle of hollow fibers which forms a semipermeable membrane. This membrane takes out impurities and clean blood returns to the human body. The dialysis machine is mostly followed by those patients who are suffering from kidney impairment.
This dialysis machine can be used at home as well post small training from a healthcare professional, the patient can use it while sleeping or during day time also by controlling own dialysis. Increasing kidney-related disease across the globe is a major factor driving growth of the global hemodialysis machine market. According National Kidney Foundation, around 10% of global population suffers from kidney disease each year. In addition, growing number of individuals suffering from end stage renal disease is another leading factor supporting growth of the global market. For instance, according to University of California San Francisco, end-stage renal disease (ESRD) has affected around 2 million individuals across the globe in the year 2018. Also, around 750,000 people are suffered from ESRD in the US in 2018.
Growing healthcare facility advancements across the globe especially in emerging countries is among the other factors supporting growth of the target market. In addition, increasing access to healthcare facilities and rising awareness about available kidney disease treatment options among individuals is another factor expected to result in growth of the global market. However, high cost associated with hemodialysis treatment and limited availability of dialysis centers in rural area are some key factors expected to hamper growth of the global hemodialysis market over the forecast period.
The global hemodialysis machine market in 2018 is accounted for more than US$ xx Bn and expected to reach a value of US$ XX Bn by 2027 with a significant CAGR of around XX.X % over the forecast period of 2019-2027.
The increasing spending power and growing penetration of healthcare insurance is expected to support growth of the target market in the next few years. Furthermore, technological advancements and growing R&D expenditure by key players for the improvement of the hemodialysis machine is another major factor driving growth of the global market. However, growing organ donation across the globe and increasing kidney transplantation across the globe may limit growth of the market to a certain extent.
The global hemodialysis machine market is segmented based on product, application, and region. Based on the product, the hemodialysis machine market is segmented as single pump hemodialysis machine and double pump hemodialysis machine. Based on application, the global market is segmented as hospital, clinics, nursing homes, and others.
On the basis of Product
On the basis of Application
Hemodialysis Machine Market Regional Segmentation
Based on region, the global hemodialysis machine market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America's hemodialysis machine market is expected to hold major market share and maintain its dominance throughout the forecast period owing to high level of affordability among end users and wide availability of dialysis centers in countries in the region. The Europe holds the second largest market share due to rising market expansion activity in countries in the region. Asia Pacific hemodialysis machine market is expected to witness the highest growth rate due to the increasing prevalence of kidney disease countries such as China and India in the region.
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Hemodialysis Machine Market Competitive Landscape
Global market for AI in healthcare is dominated by leading players and some of them are Asahi Kasei Corporation, NxStage Medical Inc., Nikkiso Co. Ltd., DaVita Healthcare Partners Inc., B. Braun Melsungen AG, DiaverumGambroSweden AB, TorayIndistries, Inc., Nipro Medical Corp., Fresenius Medical Care AG & Co. ((KGaA Fresenius SE & Co. KGaA), and Chongqing Shanwaishan Science & Technology Co., Ltd.
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ABOUT THE AUTHOR
Ashwani Pal Kailiya has done a post-graduation in Business Studies. He is now working as a full-time market analyst at Meridian Market Consultants, a US-based, leading market research and consultancy firm. He gathers the market data and facts to forecast a market. Recently, he complete his assignment for Global Hemodialysis Machine Market, in which he gives facts and statistics for the concerned market at a global level.