The global hemodialysis market reached a value of around US$ 75.4 Billion in 2018. Hemodialysis refers to the medical procedure that is performed when the kidney function goes below 10%-15%. In this procedure, a dialyzer, or artificial kidney, is used to filter excess fluids and toxins from the blood and restore the electrolyte balance. It removes waste products such as creatinine and urea from the blood and improves the functioning of the kidneys. It also aids in managing blood pressure levels and balances the concentration of minerals such as sodium, potassium and calcium in the circulatory system. Furthermore, the procedure prevents the accumulation of salts and other toxins that can damage and influence the functioning of other organs in the body.
The growing prevalence of various diseases, such as End-Stage Renal Disease (ESRD) and Chronic Kidney Disease (CKD), across the globe, is one of the key factors driving the growth of the market. These diseases are usually caused by high blood pressure, hypertension, diabetes, excessive alcoholism and drug abuse. There is also a gradual loss of kidney functioning in such cases, which leads to declining health and nerve damage. Hemodialysis assists in stabilizing blood pressure levels and restoring nutritional health. Furthermore, rising consumer awareness regarding the benefits of timely diagnosis and treatment of kidney disorders has increased the adoption of hemodialysis devices. Additionally, various technological innovations, including the introduction of compact-sized machines that can be conveniently used for home-based treatments, are significantly boosting the product demand. Other factors such as enhanced research and development (R&D), favorable government policies to promote public healthcare infrastructure, and the rising trend of automation in treatment processes are projected to drive the market further. Looking forward, IMARC Group expects the market to reach a value of US$ 99.3 Billion by 2024, registering a CAGR of 4.5% during 2019-2024.
The report has also analyzed the competitive landscape of the market with some of the key players being Baxter International, Asahi Kasei Corporation, B. Barun Melsungen, DaVita, Cantel Medical Corporation, Fresenius Medical Care, Nipro Corporation, Rockwell Medical, Medivators, Toray Medical Company Ltd., Nikkiso Co. Ltd., Surni Group, Gambro, Satellite Healthcare Inc., Renacon Pharma Ltd., etc.
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