The global renal dialysis market is projected to grow at a compound annual growth rate (CAGR) of 3.48% and reach $18bn by 2022, says a report by GlobalData. The market for renal dialysis equipment is currently estimated to be worth $14.44bn.
Titled ‘MediPoint Report – Renal Dialysis Equipment – Global Analysis and Market Forecasts‘, the report highlights how innovative products and therapies will lead the growth in the renal dialysis equipment market. The demand for innovative technologies is on the rise as they are expected to provide better dialysis treatment results.
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The most significant of all the new technologies will be peritoneal dialysis, which is expected to grow at a CAGR of 6.92%, says the report. This new technology is predicted to capture the market in the Asia Pacific region and expand at a CAGR of 10%. Growth in the nascent markets of China, India and Brazil will be propelled by a large untreated demographic seeking new treatment.
Peritoneal dialysis is expected to replace haemodialysis as the most preferred treatment option as it eliminates the use of needles or too many foods and fluid restrictions making it less stressful. It is also easier to administer as it does not require the infrastructure of dialysis clinics and can be administered at the patient’s home.
The GlobalData report also summarises the other factors that will influence the growth in the renal dialysis equipment market, such as aging populations, better information regarding therapeutic modalities, increasing demand from emerging economies, and more technological innovations. The market will also benefit from continued improvement in existing technologies.
Tina Deng, MSc, GlobalData’s Analyst covering Medical Devices, explains: "Information technology has changed people’s perception of medical devices and will further impact the choice of dialysis modality.
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By GlobalData"For example, Nx2me, a mobile application developed by NxStage Medical, Inc. based in the US, allows end-stage renal disease patients using a home haemodialysis system to have their treatment data sent wirelessly to the clinician."
