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What is the Estimated Growth Rate for the Artificial Kidney Market Between 2024 and 2033?

Over the recent years, the market size of artificial kidneys has witnessed a fast-paced growth. From a valuation of $9.22 billion in 2023, it is projected to escalate to $10.48 billion by 2024, with a compound annual growth rate (CAGR) of 13.7%. This growth observed in the historic period is due to the rising incidence of chronic kidney diseases (CKD), scarcity of donor organs, advancements in renal replacement therapies, improved quality of life for patients with end-stage renal disease (ESRD), and the growing aging population.

The market size for artificial kidneys is projected to experience swift expansion in the upcoming years. It is forecasted to reach a substantial $16.74 billion in 2028, displaying a compound annual growth rate (CAGR) of 12.4%. The expected development in this duration can be credited to increased investments in healthcare and related initiatives, a preference among patients for therapies conducted at home, and worldwide initiatives striving to lessen dependency on dialysis. Significant trends during the forecast period will comprise of integration of sensors and health monitoring tools, telehealth incorporation, emphasis on biocompatibility and immunogenicity, evolution of regulatory frameworks, and global collaborations along with research consortia.

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What Are the Primary Contributors to the Growth of the artificial kidney Market?

The artificial kidney market is anticipated to expand due to the rising cases of chronic kidney diseases. These illnesses, characterized by the kidneys’ slow deterioration, largely depend on artificial kidneys for treatment. Artificial kidneys serve in eliminating waste and toxins from the system and ensure fluid regulation and a proper electrolyte balance. As per Kidney Research UK, a not-for-profit entity concentrating on kidney disease research and awareness, approximately 7.19 million individuals suffered from chronic kidney diseases in the UK in June 2023 – over 10% of the local population. This number is predicted to rise to 7.61 million by 2033. Consequently, the growth in these cases propels the artificial kidney market.

Which Key Segments Comprise the Artificial Kidney Market?

1) By Product Type: Wearable Artificial Kidney, Implantable Artificial Kidney

2) By Dialysis: Hemodialysis, Peritoneal Dialysis, Combination

3) By End-User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Other End-User

What Are the Key Trends Reshaping the Artificial Kidney Market?

Advancements in technology are becoming an immensely popular trend in the artificial kidney market. To preserve their market standing, prominent businesses in the same sector are rolling out novel products. As an illustration, Nephroplus, a renowned dialysis network in India, unveiled the Renova in July 2022. This is a fully automated dialyzer reprocessing device, complete with in-built cloud connection. With the assist of internet cloud, Biomedical Engineers can identify and fix issues from a distance. They can check up on the machine’s status through the Renova application, even scrutinizing the functioning of each valve during the machine’s operations to pinpoint any issues. Once the problem is identified, they can ascertain whether a component needs to be substituted or a configuration setting has to be adjusted. The Dialyzer, or synthetic kidney, aids in minimizing infection risk, enhances the efficiency of dialysis treatment, and facilitates the removal of toxins and waste from the blood that the kidneys are unable to eliminate.

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What Are the Top Regions Fueling Growth in the Artificial Kidney Market?

North America was the largest region in the artificial kidney market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial kidney market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Artificial Kidney 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 artificial kidney market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Artificial Kidney Market Include

1. Artificial Kidney Market Executive Summary

2. Artificial Kidney Market Segments

3. Artificial Kidney Market Size And Template Market Growth Rate

4. Key Artificial Kidney Market Trends

5. Major Artificial Kidney Market Drivers

……

25. Key Mergers And Acquisitions In The Artificial Kidney Market

26. Top Artificial Kidney Companies

27. Artificial Kidney Market Opportunities And Strategies

28. Artificial Kidney Market, Conclusions And Recommendations

29. Appendix

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