May 18, 2024
Global Wearable Artificial Kidney Market

The Global Wearable Artificial Kidney Market Is In Trends By Increasing Prevalence Of Chronic Kidney Diseases

The global wearable artificial kidney market offers innovative wearable medical devices that act as an artificial kidney and help treat end-stage renal disease in patients suffering from chronic kidney failure. These wearable devices filter and cleanse blood outside of the patient’s body, performing hemodialysis during their daily activities. The wearable artificial kidney is lightweight, small, and easy-to-wear. It enables more frequent dialysis treatments with improved patient outcomes compared to conventional in-center hemodialysis. The rising incidence of chronic diseases such as diabetes and hypertension that damage the kidneys is a key factor augmenting market demand.

The Global Wearable Artificial Kidney Market is estimated to be valued at US$ 22.46 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the global wearable artificial kidney are B. Braun SE, AWAK Technologies, Blood Purification Technologies Inc., Nextkidney, Triomed AB, SB-KAWASUMI LABORATORIES, INC., Asahi Kasei Medical Co., Ltd., Nanodialysis BV, Semperit AG Holding, KidneyX. Key players are focusing on developing innovative portable dialysis devices with improved performance capabilities.

The growing prevalence of kidney diseases due to lifestyle diseases such as diabetes is generating significant demand for Global Wearable Artificial Kidney Market Trends The rising demand to improve quality of life of chronic kidney disease patients and home-based treatment options is propelling market revenue.

Geographical expansion coupled with strategic collaborations with top medical institutes is helping key players strengthen their presence across international markets. The increasing health awareness and access to advanced kidney care in developing nations provide numerous growth opportunities for wearable artificial kidney manufacturers.

Market key Trends

One of the key trends gaining traction in the global wearable artificial kidney market is the integration of advanced technology. Leading players are collaborating with tech giants to develop bio-compatible dialysis devices incorporating IoT sensors, AI, and cloud computing. This allows continuous monitoring of patient health parameters, timely diagnostics, and remote oversight by healthcare providers. Furthermore, the incorporation of 3D printing technology facilitates the creation of personalized medical devices with customized sizing and performance characteristics as per patient requirements.

Porter’s Analysis

Threat of new entrants: Low capital requirements limit barriers for new companies to enter the market and compete with existing players.
Bargaining power of buyers: Large buyers have higher bargaining power due to lower switching cost and bulk orders.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated components supplied for wearable artificial kidney development.
Threat of new substitutes: Emerging alternative kidney dialysis options pose threat of substitution to wearable artificial kidneys.
Competitive rivalry: Intense competition exists among existing players to gain higher market share through product innovation and expanded regional presence.

Geographical regions: North America accounts for the largest share of the global wearable artificial kidney market in terms of value due to favorable reimbursement policies and growing prevalence of kidney disorders.

The Asia Pacific region is expected to witness the fastest growth in the market during the forecast period attributed to increasing healthcare expenditure, rising awareness about kidney diseases, and growing geriatric population in major countries like China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.