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The renal dialysis equipment market will show rapid growth due to the expanding number of dialysis centers, growth in R&D expenditure for the development of new dialysis products and increasing end-stage renal diseases.
There has been an increasing incidence of renal diseases, such as kidney diseases that are increasing at an alarming rate in both the developed and developing countries. Dialysis is thus referred to as patients who are suffering from chronic kidney diseases (CKD) or are diagnosed with an end-stage renal disorder (ESRD). According to a 2018 study conducted by the University of California San Francisco, an estimated 2 million people in the world are suffering from end-stage renal disorders (ESRD).
In the United States, the disease is found expanding that is fueling the growth of the dialysis equipment market as the demand for a fast yet effective artificial kidney system rises in the world. Therefore the growth of the market is primarily attributed to the rise in a number of end-stage renal disease patients (ESRD), advanced technologies, and a rise in cost-effective and accurate portable dialysis apparatus.
Scope of the Report
As per the scope of the report, renal dialysis equipment is referred to like the machines and apparatus used in the process that can temporarily replace the function of the kidney while patients await a transplant. Renal dialysis is thus an artificial method of maintaining the chemical balance of the blood when the kidneys have failed.
Key Market Trends
Hemodialysis (HD) Equipment is Expected to Dominate the Renal Dialysis Equipment Market During the Forecast Period
Hemodialysis (HD) equipment are growing robustly during the forecast period, due to the increasing prevalence of terminal kidney failure patients. The hemodialysis is therefore used to filter wastes and water from the blood. Therefore manufacturers are found focussing on the developments of the specialized hemodialysis equipment that helps in the growth of the overall market.
North America is Anticipated to Dominate the Renal Dialysis Equipment Market
In the North America region, the US and Canada are expected to show outstanding performance during the forecast period. The market is projected to witness steady growth due to the massive adoption of new technologies in the kidney dialysis division. The manufacturers are also queuing up specialized hemodialysis as well as peritoneal dialysis machines with different interventions, which will also impact the end-user experience.
There is also a boom in public healthcare expenditure and an increase in the awareness programs that are expected to drive the growth of the renal dialysis equipment market.
The global renal dialysis equipment market is found to be highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. These healthcare companies are also inspiring scientists to build affordable machines for dialysis that make minimal use of technicalities while serving the main purpose of the procedure at the same time.
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