Artificial kidneys, also known as dialysis devices, have become an invaluable part of renal care as they can replicate the function of kidneys and filter waste and excess fluids from the blood of patients with kidney failure. Artificial kidneys have pneumatic diaphragm pumps, hemodialyzers, and blood lines that work together to remove toxins like urea and creatinine and retain important molecules like sodium, potassium, bicarbonate. This enables fluid balance and electrolyte concentration in the blood to be regulated. Artificial kidneys provide an alternative for patients awaiting a kidney transplant or whose native kidneys are permanently damaged.
The global artificial kidney market is estimated to be valued at US$ 7 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Traditional dialysis requires patients to sit for hours in dialysis centers for blood filtration through machines. However, newer portable devices are being designed that can filter blood outside of hospitals and clinical settings. For instance, companies are developing wearable artificial kidneys that can be worn like a backpack or jacket and allow patients to dialyze at home or while they are mobile. Such devices are more convenient for patients and help improve their quality of life. Furthermore, organizations are working on developing implantable bioartificial kidneys consisting of clusters of miniaturized dialyzers that can permanently replace damaged kidneys. If successful, such implants could eliminate the need for repeated hemodialysis treatments. Advancements in materials, biocompatibility, miniaturization, and blood purification methods are expected to drive the development of next-generation portable and implantable renal replacement therapies.
Threat of new entrants: The threat of new entrants in the artificial kidney market is moderate. Significant capital investment is required to enter the market. Established players hold strong patents and regulations from regulatory authorities represent a barrier.
Bargaining power of buyers: The bargaining power of buyers is moderate. The availability of few substitutes and life-saving nature of the product gives buyers moderate bargaining power.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. Suppliers of raw materials include widely available commodities. Established suppliers have significant know-how.
Threat of new substitutes: The threat of new substitutes is low as artificial kidney is currently the most viable option for replacing kidney function.
Competitive rivalry: The competition is high as main players compete on technological advancement, product reliability, and customer service.
The Global Artificial Kidney Market Size is expected to witness high growth over the forecast period owing to the rise in number of patients with chronic kidney disease.
Regional analysis: North America dominates the market and is expected to continue its dominance over the forecast period. This is attributed to presence of major players, higher healthcare spending, and rising incidence of kidney failure in the region. Asia Pacific is expected to witness fastest growth owing to rising aging population, growing cases of diabetes and hypertension.
Key players operating in the artificial kidney market are DanDry, Bry-Air, Drymate, DehuTech AB, Aprilaire, Therma-Stor LLC, Santa Fe Products, Surna Inc., Desert Aire Corp. These players are focusing on new product launches and geographic expansion to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it