by The artificial kidney market is gaining prominence in the healthcare industry owing to the growing incidence of kidney failure across the globe. Artificial kidneys or renal replacement therapy devices are utilized to replace the filtration function of failed kidneys in patients with end-stage renal disease or acute kidney injury. These devices help filter waste and excess fluid from the blood while balancing essential minerals through biochemical and biophysical processes.
The devices eliminate the need for kidney transplantation in many cases. The global artificial kidney market is estimated to be valued at US$ 7 billion in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the key trends gaining traction in the artificial kidney market is the development of wearable and portable dialysis devices. Traditional dialysis machines are large and immobile, restricting patients’ mobility and comfort. However, new players are focusing on developing miniature dialysis devices that can be worn similar to a vest or backpack. These portable dialysis devices provide greater convenience and flexibility to patients. Another trend is the increasing popularity of home and portable hemodialysis. Due to the benefits like scheduling flexibility, reduced hospital visits, and improved quality of life, providers are promoting home and portable hemodialysis. This is expected to propel the sales of home dialysis devices and associated services in the coming years.
Porter’s Analysis
Threat of new entrants: Low as artificial kidney sector requires huge R&D investments and manufacturing facilities to produce equipment. Bargaining power of buyers: Moderate as key customers include hospitals and dialysis centers. They can negotiate on price and quality standards. Bargaining power of suppliers: Low due to specialized components and stringent manufacturing norms. Threat of new substitutes: Low as no viable alternative to dialysis therapy is available currently. Competitive rivalry: High among top players to gain more market share through innovative product launches and expansion into new regions.
Key Takeaways
The Global Artificial Kidney Market Size is expected to witness high growth.
Regional analysis focused on North America dominating the market currently owing to presence of major players and increasing kidney disorders. Asia Pacific expected to be fastest growing region due to rising healthcare expenditure and improving access to therapy.
Key players operating in the Artificial Kidney market are DanDry, Bry-Air, Drymate, DehuTech AB, Aprilaire, Therma-Stor LLC, Santa Fe Products, Surna Inc., Desert Aire Corp. DanDry is a leading player focused on innovating implant design and biocompatible coatings. Bry-Air and Drymate provides humidity control solutions for artificial organs storage during transportation.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
