Global Dialysis Market Research and Forecast, 2018-2023
There has been a significant hype in the cases of kidney failures in the past few years. This surging prevalence has lead to an increased number of dialysis processes. Dialysis is a medical process that aids the function of detoxification of urea and creatinine from the blood whose kidneys’ natural functioning is not proper. Apart from toxins, it also carries out the natural process of excess water and solutes removal. This flaw in the human body is medically termed as renal failure and the artificial process of detoxifying the human blood is called as renal replacement therapy. The growing demand of renal replacement therapy has resultantly enhanced the growth of global dialysis market. A paradigm shift in the lifestyle of people and thereby certain consequential habits in combination have lead to various diseases and ailments. These structural changes have further lead to increasing kidney failures that will ultimately boost the dialysis market across the globe.
Devices are driving the market of dialysis
Renal failure may include acute kidney injury or the chronic kidney disease as the case may be. Depending on the type of renal disease, there are broadly three categories of renal replacement therapy which are- kidney transplant, peritoneal dialysis and hemodialysis. As the name suggests, kidney transplant occurs when the patient is suffering from the last stage kidney diseases or when there is the ultimate need of transplantation of a kidney. As far as hemodialysis is concerned, it is a kind of renal replacement therapy that aids the extracorporeal separation of plasma or cells as the form of blood components which means it is carried out for the removal of wastes such as urea from the blood. Based on further intricacy, hemodialysis is divided into three- conventional hemodialysis, nocturnal hemodialysis and daily hemodialysis. Human abdomen has peritoneum which is used in peritoneal dialysis that helps in removal of excess fluid to prevent kidney failure and even corrects electrolyte problems. All these forms of dialysis use certain devices such as needles, water system and dialyzer as the primary ones. Likewise, there are other accessories and equipment that supports the process of dialysis. Consequently, global dialysis equipment market is observed to be gradually expanding which is clearly seen through the high demand of relevant equipment in surgical clinics, hospitals, and research institutes.
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Another trend of rising illegal and toxic drugs with excessive consumption of tobacco and alcohol has been noticed in the past few years that have severely impacted the human health. Apart from encouraging the practices of drug abuse, these toxic drugs have brutally impaired the natural functioning of kidneys. It is needless to point out, what effects has been laid in the long run and how this scenario has surged the demand for increasing dialysis processes and necessary equipment. There are major other factors that has augmented the global dialysis equipment market. Lack of physical activity, increase in the number of patients of diabetes, hypertension and End-Stage Renal Disease (ESRD) and the other genetic diseases like polycystic kidney disease has additionally resulted in the expansion of global dialysis market size. People now are more aware and the modern medical facilities have so many therapeutic provisions that have improved their overall health conditions. As a result, the surging health expenditure and the rising government’s investment in healthcare have jointly propelled the growth of the dialysis market. As a matter of fact, the increased intervention of technology in the field of medical science is further expected to augment the dialysis market across the globe.
Automation and IoT are going to rule the future
Talking about the geographies, North America region leads the dialysis market in the global economy because of its rich availability of resources and its uninterrupted development of healthcare technology. Besides the introduction of further new technologies and relevant products in North America region is adding to the growth of the dialysis market. Other emerging economies like China, Japan and India are estimated to experience growth due to the expansion of dialysis market in these regions. However, high cost of technology and machines is still a major restraint for the emerging economies despite the government funding and investment for the advancement of dialysis product. Over and above that, a robust strategy to keep pace with the continuously evolving technology is the need the hour. As the future years are going to demand more hands on expertise, a weaker technical structure will certainly harm the overall growth of economies. Healthcare, by now, has faced a considerable revolution through technological reforms; what next electrifying phase for the dialysis market of emerging economies is the automation. In fact, automated peritoneal dialysis (APD) has already strengthened its root in the economies like the US and Australia. As of now, the inceptive advent of Internet of Things (IoT) in the form of wearable and portable devices is sure to set the global dialysis market on fire.