June 18, 2020
According to the research report titled ‘Portable and Wearable Dialysis Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type; End Users; and Geography’, available with Market Study Report LLC, the global portable and wearable dialysis devices market was worth USD 3,023.1 million in 2019 and is expected to reach USD 4,393.8 million by the year 2027, expanding with a CAGR of 5% over 2020-2027.
Rising prevalence of end-stage renal disease (ESRD) and dearth of organ donors are the major factors driving the global portable and wearable dialysis devices market growth. On the other hand, technical obstacles with respect to development of WAK (wearable artificial kidney) and WDD, alongside poor reimbursement scenario in developing nations may have a negative impact on the growth of portable & wearable dialysis devices market.
According to the information given by National Kidney Foundation Incorporation, there are 100,000 people in the national transplant waiting list for donors’ kidneys at present in the US. This number increases by one every ten minutes, and reportedly, 13 patients waiting for kidney transplant die each day. Furthermore, in 2014, there were 4,761 deaths of patients awaiting a kidney transplant, while 3,668 patients became too ill to undergo the transplant.
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It is to be noted that dialysis cannot replace all the essential kidney functions and only 35% patients after undergoing dialysis survive for more than five years. Patients waiting for the kidney transplant often undergo cumbersome and long treatment of dialysis several times in a week. Due to limited number of donors, there has been an increase in the adoption of wearable portable dialysis devices.
The global portable and wearable dialysis devices market is divided with regards to end user scope and product type. In terms of product type, the market is bifurcated into peritoneal dialysis and hemodialysis. In 2019, hemodialysis segment held a majority market share and is likely to record a high CAGR through 2027.
In terms of end user scope, the market is categorized into homes, clinics, and hospitals. In 2019, hospitals segment accounted to significant industry share. On the other hand, portable & wearable dialysis devices market share from home segment is likely to record a high CAGR during the anticipated timeframe.
The leading organizations in global portable and wearable dialysis devices market are Nipro, Medtronic, Quanta Dialysis Technologies Limited, AWAK Technologies, Fresenius Kabi AG, Asahi Kasei Corporation, AllMed Healthcare Management Incorporation, Baxter International Incorporation, and B. Braun Melsungen AG among others.