The Europe portable and wearable dialysis devices market is expected to reach US$ 1,069.02 million by 2027 from US$ 762.12 million in 2019. The market is estimated to grow at a CAGR of 4.6% from 2020 to 2027.
The growth of the Europe portable and wearable dialysis devices market is attributed to increasing prevalence of ESRD and chronic kidney conditions. Further, increasing awareness and adoption of wearable dialysis devices and aging population are also projected to drive the market growth during the forecast period. Further, growing number of technological advancements in dialysis devices to deal with chronic kidney conditions are also anticipated to accelerate the market growth. The outbreak of the COVID-19 pandemic is estimated to less impact on the portable and wearable dialysis device market during the forecast period. It is likely to owe several growth opportunities for the market in the coming years. However, at present and in the following few years is expected to show a negative impact on market growth.
Significant gap between demand and supply for organ donation creates a lucrative opportunity for growth of the portable and wearable dialysis devices in the region. For instance, according to data published on NCBI in 2020, organ donation and transplantation was very low, i.e. 9.7 organ donations per million population was observed in Germany. Also, the country ranked 39th across the globe and 24th in European Union. Such considerably lower rate of organ donation is likely to drive the growth of the Europe portable and wearable dialysis devices market during the forecast period.
Based on product type, the Europe portable and wearable dialysis devices market is segmented into hemodialysis and peritoneal dialysis. In 2019, the hemodialysis product type segment held a larger share of the market. Also, the segment is expected to grow at a faster rate during the forecast period.
A few major primary and secondary sources referred to in the process of preparing the report on the Portable and wearable dialysis devices market are the World Health Organization, Ministry of Health and Prevention, and Ministry of Health and Family Welfare.