Future Outlook of the Global Renal Dialysis Equipment Market 2024-2033: Size and Growth Rate Predictions
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Renal Dialysis Equipment Market: What is the Projected CAGR for 2024-2033?
The market for renal dialysis equipment has seen significant growth in recent years. Its value is projected to rise from $18.28 billion in 2023 to $19.52 billion in 2024, showcasing a compound annual growth rate (CAGR) of 6.8%. Factors contributing to this increase during the historic period include comprehensive training programs and support for users, hefty investments in research and development, an upsurge in awareness around kidney health, the expanding private healthcare sector, and an increase in disposable income.
Anticipated to witness impressive expansion in the forthcoming years, the renal dialysis equipment market is projected to reach the size of $25.51 billion by 2028, bolstered by a compound annual growth rate (CAGR) of about 6.9%. This robust growth during the prediction period can be traced back to investments directed towards sustainable practices, insurance provisions catering to dialysis treatments, a surge in medical tourism, improvements in reimbursement policies, and a deep-rooted focus on patient-centric care. Predominant trends during the prediction window entail the growing acceptance of home dialysis, advancement in dialysis products, the broadening scope of telemedicine coupled with remote monitoring, the rising utilization of continuous renal replacement therapy, and the adoption of biocompatible dialysis membranes.
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What Are the Primary Drivers Supporting the Growth of the renal dialysis equipment Market?
The growth of the renal dialysis equipment market is anticipated to be fueled by the escalating rates of chronic kidney disease. This condition, which involves the steady decline of kidney function, can eventually lead to kidney failure and other severe medical issues. Factors linked to chronic kidney disease include diabetes, high blood pressure, long term use of certain drugs, and genetic factors. Renal dialysis equipment, which filters waste products and excess fluids from the blood of those with chronic kidney disease, is now crucial due to the impaired function of their kidneys. For instance, data from the Australian Institute of Health and Welfare in June 2024, indicated a 4.2% rise in chronic kidney disease mortality rates in 2021 and a 6.2% rise in 2022. This disease was a factor in approximately 2 million hospital admissions in 2021-2022, accounting for 18% of all hospital admissions in Australia. Thus, the escalating incidence of chronic kidney disease is propelling the growth of the renal dialysis equipment market.
What Are the Core Segments of the Renal Dialysis Equipment Market?
1) By Product Type: Hemodialysis (HD1) Equipment, Peritoneal Dialysis (PD1) Equipment, Concentrates And Solutions, Catheters And Tubing, Other Products
2) By Application: Hemodialysis, Peritoneal Dialysis
3) By Distribution Channel: Direct Tenders, Retail
4) By End User: In-Center Dialysis Settings, Home Care Settings
What Trends Are Paving the Way for Change in the Renal Dialysis Equipment Market?
Leading businesses in the renal dialysis equipment market are introducing renal machines integrated with sophisticated attributes such as automated processes in hemodialysis systems to boost the effectiveness and result of treatments. The incorporation of automated processes in renal dialysis devices enhances precision, uniformity, and productivity in treatments, lessens the need for manual intervention, and decreases the potential for mistakes during dialysis procedures. For example, Nipro Medical Corporation, an American manufacturing company of medical equipment, unveiled SURDIAL DX, an advanced hemodialysis apparatus in March 2022. Automated processes included in SURDIAL DX simplifies clinical routines. It was designed with input from clinicians and focuses on patient safety and comfort, user-friendliness, and streamlined automated procedures. Additionally, it features a built-in system for dialysate preparation and piston pump ultrafiltration, leading to a more productive treatment process.
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Which Regions Are Leading the Charge in Renal Dialysis Equipment Market Development?
North America was the largest region in the renal dialysis equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the renal dialysis equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Renal Dialysis Equipment Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the renal dialysis equipment market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Renal Dialysis Equipment Market Include
1. Renal Dialysis Equipment Market Executive Summary
2. Renal Dialysis Equipment Market Segments
3. Renal Dialysis Equipment Market Size And Template Market Growth Rate
4. Key Renal Dialysis Equipment Market Trends
5. Major Renal Dialysis Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Renal Dialysis Equipment Market
26. Top Renal Dialysis Equipment Companies
27. Renal Dialysis Equipment Market Opportunities And Strategies
28. Renal Dialysis Equipment Market, Conclusions And Recommendations
29. Appendix
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