Increasing Prevalence of Kidney Diseases Drives Growth Dialysis Products and Services Market05 Apr 2016
A research study on the global dialysis products and services market, recently published by Transparency Market Research (TMR), projects this market to expand at a CAGR of 5.90% over the period from 2014 to 2020. Analysts expect this market to witness an increase in its value from US$77.6 bn in 2013 to US$115.4 bn by the end of the forecast period.The research report is titled “Dialysis Products and Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.”
A number of cases related to renal failure are being reported every day across the world, thanks to the increasing prevalence of diabetes and various kidney diseases. Renal failure or kidney failure is a medical condition, in which kidneys fail to filter waste and excess water from the patient’s blood. In this case, the patient needs dialysis, which is the process of purifying the blood of the patient suffering from renal failure by removing extra fluids and waste products and by controlling the fluidic levels of the patient’s body.
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The rising incidence of renal failure has fuelled the demand for dialysis products and services significantly in the global arena. According to the report, the rapid increase in the geriatric population has added considerably to the number of patients suffering from diabetes and chronic kidney diseases, leading to a large renal failure patient pool.
The implementation of favorable reimbursement policies by various governments has also boosted the adoption of dialysis products and services among patients. In addition to this, the improvement in the healthcare sector in emerging nations is likely to strengthen the market for dialysis products and services across the world in the coming years, notes the study.
The report studies the global dialysis products and services market on three fronts: Product type, service type, and its regional spread. On the basis of the type of product, the market has been classified into peritoneal dialysis and hemodialysis. In 2013, the hemodialysis segment led the market with a share of 31%. Experts anticipate this segment to retain its position during the forecast period.
Based on services, the market has been categorized into home dialysis and in-center dialysis. The demand for in-center dialysis services is more than home dialysis services in the global arena. The segment is likely to maintain its dominance in the global market in terms of demand over the forecast period, states the report.
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Regionally, the report has segmented the worldwide dialysis products and services market into North America, Asia Pacific, Europe, and the Rest of the World. As per the study, North America led the overall market in 2013 and is anticipated to retain its leadership throughout the forecast period.
Rockwell Medical Technologies Inc., Nipro Corp., NxStage Medical Inc., Nikkiso Co. Ltd., Kawasumi Laboratories Inc., Medical Components Inc., Fresenius SE & Co. KGaA, Covidien Plc, C. R. Bard Inc., DaVita Healthcare Partners Inc., Cantel Medical Corp., Baxter International Inc., B. Braun Melsungen AG, and Asahi Kasei Corp. are some of the key players functioning in the global dialysis products and services market profiled in this research report.