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Wearable Artificial Kidney Market 2021 Present Scenario on Growth Analysis and High Demand to 2027

Summary

The global Wearable Artificial Kidney Market size was valued at USD XX million in 2020 and is anticipated to witness a CAGR of 96.7%. Latest added Wearable Artificial Kidney Market research study by MarketDigits offers detailed product outlook and elaborates […]

The global Wearable Artificial Kidney Market size was valued at USD XX million in 2020 and is anticipated to witness a CAGR of 96.7%.

Latest added Wearable Artificial Kidney Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are AWAK Technologies Pte. Ltd., International Renal Research Institute of Vicenza/IRRIV, San Bortolo Hospital, Nanodialysis BV and Triomed AB., Top Glove Corporation Bhd, Supermax Corporation Berhad, Semperit AG Holding, Medline Industries. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

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This report studies the Wearable Artificial Kidney Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Wearable Artificial Kidney Market by companies, region, type and end-use industry.

Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Wearable Artificial Kidney Market Report, By Patient Type (End Stage Renal Disease, Acute Kidney Disease), Dialysis type (Hemodialysis, Peritoneal dialysis), End-use (Hospitals, Dialysis centers): Global Forecast 2027”. Early buyers will get 10% customization on study.

To Avail deep insights of Wearable Artificial Kidney Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Wearable Artificial Kidney Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

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Report Overview

The increasing number of patients suffering from renal failure and ongoing technological advancements in the artificial kidney are few factors driving the market growth.

Wearable artificial kidney is a portable medical device that enables patients to experience the benefits of dialysis at home while performing their day-to-day work. This device improves the lives of patients suffering from end-stage renal disease as it eliminates hospital stays and improves physiological aspects by reducing hypertension. Also, it minimizes sodium retention and minimizes the risk of stroke and vascular diseases. It also costs lesser than other treatments available for renal failure patients.

Chronic Kidney Disease (CKD) is one of the major reasons for the increasing number of kidney failure patients. According to the National Kidney Foundation (NKD), approximately 10% of the global population suffers from CKD and millions of people die from this condition each year. As per NKD estimation, the geriatric population is more prone to renal problems, especially in developing countries such as China and India.

Increasing demand for technological advancements in the artificial kidney is another factor expediting the overall market growth. In Feb 2014, the U.S. FDA approved the first human clinical trials of blood purification technologies for designing Wearable Artificial Kidney (WAK) 2.0. This innovation is intended to obtain satisfactory and effective results from patients.

Rising awareness about various renal failure diseases, unhealthy lifestyles, and increasing health issues are other factors driving the market. DaVita Inc. is one of the communities committed to raise awareness regarding renal diseases that can lead to organ failure. It arranges awareness programs such as kidney smart classes, in which experts provide education about causes of the disease, CKD basics, lifestyle choices, and healthy diets as well as the nutrition information. According to the National Institutes of Health (NIH), March is regarded as National Kidney Month to raise awareness regarding diseases causing organ failure. Thus, the rising of campaign launches to increase awareness among patients to opt for ambulatory dialysis will further increase the demand for a wearable artificial kidney.

Patient Type Insights

The End-Stage Renal Disease (ESRD) segment dominated the market for wearable artificial kidney and is expected to witness the highest CAGR in the future owing to the increasing number of patients suffering from renal failure and technical advancements. Besides, the growing prevalence of diabetes, as well as hypertension and rising awareness regarding CKD, are anticipated to propel segment growth in the coming years. ESRD is also known as kidney failure, which depicts the last stage of CKD. It means that kidneys are working up to 10-15% and have stopped functioning properly. This results in the patient desperately opting for either dialysis or transplant to survive.

Moreover, in the U.S., approximately 750,000 patients suffer from ESRD per year, and globally 2 million people are affected by this disease. In the U.S., diabetes, and hypertension are the major causes of people suffering from ESRD as well as common causes of death in developing countries like India and China. Thus, an increasing number of patients suffering from blood pressure, diabetes, and hypertension is the primary cause of the growth of the wearable artificial kidney market.

Report Coverage & Deliverables

PDF report & online dashboard will help you understand:
  • Competitive benchmarking
  • Historical data & forecasts
  • Company revenue shares
  • Regional opportunities
  • Latest trends & dynamics

Regional Insights

North America dominated the market and is expected to grow at the highest CAGR in the future due to increasing healthcare spending and government initiatives. Also, awareness campaigns regarding CKD technologically enhanced wearable artificial kidneys, and the presence of well-established healthcare facilities are driving the market in the region. In March 2018, North America Fresenius Medical Care announced a USD 40,000 donation to a kidney school to expand its services for CKD patients. High blood pressure and diabetes are the major risks for developing the disease. Thus, these factors are primarily driving the market.

Wearable Artificial Kidney Market Share Insights

The three major players in the industry are Blood Purification Technologies Inc.; AWAK Technologies; and Dutch Kidney Foundation. These key market players are focusing on the launch of innovative types of wearable artificial kidneys, growth strategies, and technological advancements. The firms have tried and tested their products in various small scale human trials in the U.S. and Europe with great success. Since the products are yet in the stage of product refinement, developments are being done in the areas of patient comfort and ease of operation. In terms of functionality and product safety, these firms have already achieved support from the medical fraternity. These advancements in the area of the wearable artificial kidney are anticipated to boost the market growth over the forecast period.

Wearable Artificial Kidney Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2027. For this study, MarketDigits has segmented the global wearable artificial kidney market report based on patient type and region:

Patient Type Outlook (Revenue, USD Million, 2021 – 2027)

  • End-Stage Renal Disease
  • Acute Renal Disease

Regional Outlook (Revenue, USD Million, 2021 – 2027)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa (MEA)

 

Some of the features of this Wearable Artificial Kidney Market report:

  • Market size estimates: Wearable Artificial Kidney market size estimation in terms of value ($M) shipment.Trend and forecast analysis: Market trend (2015-2020) and forecast (2021-2027) by end use and use industry.
  • Segmentation analysis: Wearable Artificial Kidney market size by application and headset in terms of value and volume shipment.
  • Regional analysis: Wearable Artificial Kidney market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
  • Growth opportunities: Analysis on growth opportunities in different applications and regions in the Wearable Artificial Kidney market.
  • Strategic analysis: This includes M&A, new product development, and competitive landscape in the Wearable Artificial Kidney market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

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