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Portable Dialysis Machines Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Portable Dialysis Machines Market Size
According to The Business Research Company's, The portable dialysis machines market size has grown rapidly in recent years. It will grow from $18.35 billion in 2023 to $20.25 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to technological advancements in dialysis machines, increasing prevalence of chronic kidney disease (CKD), rising demand for home healthcare solutions, improvements in patient quality of life, and government initiatives supporting dialysis access.
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Market Drivers and Trends:
The increasing prevalence of renal illnesses is expected to propel the growth of the portable dialysis machines market going forward. Renal illnesses, also known as kidney diseases, encompass a range of conditions that affect the kidneys' ability to filter waste products and excess fluids from the body, regulate blood pressure, and maintain overall health. Portable dialysis machines are used in the treatment of renal illness, specifically in the management of chronic kidney disease and end-stage kidney failure. These machines are designed to filter a patient's blood to remove excess water and waste products when the kidneys are damaged, dysfunctional, or missing. For instance, in June 2023, according to the report published by Kidney Research UK, a UK-based non-profit organization, around 7.2 million people in the UK, or over 10% of the population, currently live with chronic kidney disease. Of this number, 3.25 million are in the severe stages, and an additional 3.9 million are in the early stages, often undiagnosed and symptom-free. By 2033, it's anticipated that the total number of people with chronic kidney disease will rise to 7.61 million. Therefore, the increasing prevalence of renal illnesses is driving the growth of the portable dialysis machines market.
Major companies operating in the portable dialysis machine market are focusing on introducing technologically advanced solutions, such as next-generation digital health modules, to increase their profitability in the market. Next-generation digital health modules are a clinical management resource and are designed to keep patients on home dialysis by helping identify potential therapy complications. For instance, in June 2021, Baxter International, a US-based healthcare company, launched Sharesource Analytics 1.0, a next-generation digital health device for home-based peritoneal dialysis (PD). This next-generation digital health module is uniquely designed to support patients on home dialysis by helping to identify potential therapy complications. Sharesource Analytics 1.0 is built on Baxter's Sharesource remote patient management platform, aiming to enhance the clinical management of home dialysis patients.
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Major Key Players of the Market:
Abbott Laboratories, Fresenius Kabi AG, Medtronic PLC, Siemens Healthineers AG, C.R. Bard (Becton), Baxter International Inc, B. Braun Melsungen AG, Terumo Corporation, Nipro Corporation, Nikkiso Co., Cantel Medical, Allmed Medical Products Co. Ltd., NxStage Medical Inc., AngioDynamics, Medivators Inc., Outset Medical Inc., Outset Medical, Rockwell Medical, SWS Hemodialysis Care Co. Ltd., Zylox Medical Devices, DEKA Research & Development Corporation, Biolight Co. Ltd., Quanta Dialysis Technologies Ltd., Medcomp, AWAK Technologies, Toray Medical Co. Ltd.
Portable Dialysis Machines Market 2024 Key Insights:
• The portable dialysis machines market is expected to grow to $26.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Portable Dialysis Machines Market Thrives Amidst Rising Prevalence Of Renal Illnesses
• Next-Generation Digital Health Modules Transforming Portable Dialysis Machines
• North America was the largest region in the portable dialysis machines market in 2023
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