DUBLIN--(BUSINESS WIRE )--The "Hemodialysis and Peritoneal Dialysis Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Product, and End User" report has been added to ResearchAndMarkets.com's offering.
The global hemodialysis and peritoneal dialysis market is projected to reach US$ 130,370.18 million by 2028 from US$ 84,610.62 million in 2021; it is expected to grow at a CAGR of 6.4% from 2022 to 2028.
Rising prevalence of diabetes and kidney disease drives the overall growth of the market. The presence of competitive market players introducing advanced products and services with innovative strategies acts as a future trend of the hemodialysis and peritoneal dialysis market.
The global hemodialysis and peritoneal dialysis market is segmented on the basis of type, product, and end user. Based on product, the market is segmented into devices, consumables, and services. The services segment is estimated to hold the largest market share during 2022-2028.
However, the consumables segment would register the highest CAGR during the forecast period. The dialysis center on Mayo Clinic's campus in Florida is nationally recognized for its patient-centric quality care. The center has a 5-star rating from the Centers for Medicare & Medicaid Services (CMS). It offers 24 private dialysis stations, 3 home training rooms, 2 exam rooms, and centrally located nursing stations.
Additionally, the Regents of the University of California report states that various health centers offer quality hemodialysis and peritoneal dialysis services. For example, the Nephrology Services team at UCI Health provides the most advanced care in Orange Country for patients in need of dialysis.
These involve adult and teenage outpatients with end-stage renal disease, patients needing training and assistance with home peritoneal dialysis or hemodialysis, and hospitalized patients having acute renal disorders. These factors are responsible for the growth of the hemodialysis and peritoneal dialysis market for this segment.
Consumable products for hemodialysis treatment include dialyzers, AV tubing sets, fistula needles, sodium bicarbonate cartridges and bags, bicarbonate and acid concentrate solutions, endotoxin filters, and disinfectants. The rising demand for dialysis therapy for renal diseases is accelerating the uptake of consumables as it offers maximum patient safety. For example, B. Braun's dialysis system provides perfectly adapted components, allowing an effective and patient-friendly dialysis treatment.
The International Society of Nephrology report released several guidelines regarding the adoption of consumables. For instance, when choosing dialysis machines, it is essential to consider local context and opt for simple, reliable machines while also considering the exchangeability of supplies between devices.
Also, it is required to have a reliable check on supplies of consumables and the availability of technical support. On the other hand, the International Finance Corporation report states that hospitals are taking several initiatives in ordering proper amounts of dialysis consumables to avoid wastage. For example, NephroPlus purchased consumables and equipment in bulk, allowing the company to negotiate 15% to 20% lower prices than large corporate hospitals in 2015.
A management information system assisted staff in sharing and monitoring the utility of consumables and equipment across hospitals. Such initiative ensures optimal distribution of resources and consumables supplies, avoids wastage, and is responsible for accounting maximum CAGR of the hemodialysis and peritoneal dialysis market during the forecast period.
Future Trends of Global Hemodialysis and Peritoneal Dialysis Market
The hemodialysis and peritoneal dialysis market is characterized by the presence of big and small companies. To increase their market share, players are adopting strategies such as product launches, regional expansions, and technological advancements. Continuous innovations and technological advancements are resulting in the introduction of safe and effective hemodialysis and peritoneal dialysis, leading to increased acceptance among patients and medical societies.
For instance, in November 2021, Fresenius Medical Care, a pioneer in providing products and services for individuals suffering from renal diseases, announced advanced home dialysis solutions at the China International Import Exp (CIIE) in Shanghai. The company showcased new digitalized options enabling patients suffering from ESRD and perform dialysis in comfort at home, including the 5008S hemodialysis (HD) machines and a new automated peritoneal dialysis machine.
Additionally, in March 2021, Baxter International Inc. received the US FDA clearance for its next-generation Artificial Kidney 98 (AK 98) dialysis machine, designed to be a portable and easy-to-use system to administer hemodialysis (HD) treatments. The AK 98 provides an encrypted bidirectional connection.
This permits the system to obtain prescriptions directly from electronic medical records (EMRs), simplifying workflow and data processing. Such aforementioned factors would highly support the growth of the hemodialysis and peritoneal dialysis market during the forecast period.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900