Market Research Report
Portable and Wearable Dialysis Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Haemodialysis, Peritoneal Dialysis); End Users (Hospital, Clinic, Homes); and Geography
|Published by||The Insight Partners||Product code||940343|
|Published||Content info||135 Pages
Delivery time: 1-2 business days
|Portable and Wearable Dialysis Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Haemodialysis, Peritoneal Dialysis); End Users (Hospital, Clinic, Homes); and Geography|
|Published: May 28, 2020||Content info: 135 Pages||
The global portable and wearable dialysis devices market is expected to reach US$ 4,393.8 million by 2027 from US$ 3,023.1 million in 2019; it is estimated to grow at a CAGR of 5.0% from 2020 to 2027.
Increasing number of ESRD patients and limited availability of organ donors are key factors driving the portable and wearable dialysis devices market. However, reimbursement concerns in emerging market and technical challenges associated with WAK and WDD development are the major factors hindering the market growth.
As per the data provided by National Kidney Foundation Inc., currently, 100,000 people in the US are on the national transplant waiting list for donors' kidneys. Every 10 minutes, one person is added to the national transplant waiting list, and 82% of patients need a kidney. Moreover, 13 people die each day while waiting for a life-saving kidney transplant. In 2014, 4,761 patients died while waiting for a kidney transplant. Another, 3,668 people became too sick to receive a kidney transplant. Most patients awaiting a kidney transplant survive by undergoing long and unwieldy dialysis treatments multiple times a week to clear toxins from their blood. Still, dialysis does not replace many essential kidney functions, and on average, only 35% of dialysis patients survive after five years. Dialysis and other treatments for ESRD, which are universally covered by Medicare, cost US$ 35 billion in 2016, representing 7% of Medicare's annual budget. The limited availability of donors, leading to limited transplantation, in turn increases the adoption of wearable portable devices for the treatment of renal diseases. For instance, The Kidney Project led by Roy and Vanderbilt University Medical Center for more than a decade has been working to develop an implantable bio artificial kidney to eliminate dialysis needs and ease the shortage of donor kidneys.
The global portable and wearable dialysis devices market is segmented by product type and end user. Based on type, the market is segmented into hemodialysis and peritoneal dialysis. The hemodialysis segment held a larger share of the market in 2019 and is anticipated to register a higher CAGR in the market during the forecast period. Based on end user, the portable and wearable dialysis devices market has been segmented into hospitals, clinics, and homes. The hospitals segment held the largest share of the market in 2019, whereas the home segment is estimated to register the highest CAGR during the forecast period
The National Institutes of Health (NIH), World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), American Cancer Society, Australian Institute of Health and Welfare, and Dubai Health Authority are among the essential secondary sources refereed to while preparing this report.
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