PORTLAND, Oregon and PUNE, India, July 17, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Hemodialysis Market by Type, Product & Service, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025", the market was valued at $71,502 million in 2017, and is projected to reach $99,747 million by 2025, growing at a CAGR of 4.2% from 2018 to 2025. North America is anticipated to be the highest revenue contributor throughout the forecast period.
The function of kidneys is to remove waste products and excess fluid from the blood. If the kidneys do not function normally, this process is implemented by hemodialysis. Waste products, such as urea and creatinine, are removed from the blood with the help of artificial and natural semipermeable membranes.
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The major driving factors for the growth of the global hemodialysis market are increase in the number of end-stage renal disease (ESRD) patients, rise in incidence of diabetes and hypertension, and increase in funding for improved dialysis products and services. Moreover, owing to lack of matching donors, dialysis is preferred over kidney transplant, which is expected to further fuel market growth. However, risks and complications associated with dialysis and product recall are expected to hamper market growth.
By product and service, the service segment accounted for approximately two-thirds share of the global hemodialysis market in 2017. Furthermore, the nocturnal segment is anticipated to grow at the highest rate of 4.9% during the forecast period.
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KEY FINDINGS OF THE STUDY
- North America occupied less than two-thirds share of the global hemodialysis market in the year 2017.
- The consumable segment is anticipated to grow with the highest CAGR throughout the forecast period.
- Europe is anticipated to nearly occupy a one-third market share of the global hemodialysis medicine market by 2025.
- The Asia-Pacific region is anticipated to grow at the highest rate during the forecast period, followed by LAMEA.
North America was the leading revenue contributor to the global market in 2017, owing to presence of a large population base along with a well-established healthcare infrastructure and technological advancements in patient care. However, Asia-Pacific is expected to grow at the highest CAGR of 6.6% from 2018 to 2025, owing to rise in government initiatives to establish new dialysis centers, increase in awareness related to dialysis products in the market, and increase in the number of independent dialysis centers.
The report provides an extensive competitive analysis and profiles of the key market players, such as Asahi Kasei Corporation, B. Braun Melsungen AG, Baxter International, Inc., Cantel Medical Corp., DaVita, Inc., Diaverum, Fresenius Medical Care AG & Co. KGaA, Nikkiso Co., Ltd., Nipro Corporation, and NxStage Medical, Inc. The other players in the value chain (not included in the report) include Gambro, Satellite Healthcare, Inc., and MEDIVATORS, Inc.
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SOURCE Allied Market Research