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(Health-NewsWire.Net, October 16, 2019 ) The global hemodialysis equipment market was estimated to be US$ 7,383 Mn in 2018 and is forecasted to grow at a stable CAGR around 5.7% during the forecast period 2019 to 2026.
Increasing ESRD prevalence population, rising number of dialysis centers, and new product launches, are some of the fundamental factors that are driving the hemodialysis equipment market growth across the globe.
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The Consumables segment of Hemodialysis Equipment market was valued at USD 4,642.01 Mn in 2018 and is estimated to grow at a CAGR of 6.0% over the forecast period. The Consumables segment is sub-segmented into dialyzers, catheters, arteriovenous fistula needles and others. The catheters sub-segment of the consumables segment was valued at USD 1,043.6 Mn in 2018 and is estimated to grow at a CAGR of 5.9% over the forecast period. The industry players are focusing on developing advanced design and materials, such as antimicrobial catheters, to minimize the malfunctions, infections, and prevent thrombosis which is a major diver for the catheters market. For instance, Medtronic’s line of Palindrome Precision Dialysis Catheters are some of the well-known antimicrobial catheters some of which have the heparin coated and have silver ion sleeve that helps reduce the risk of clot formations and microbial colonization on the catheter’s surface. North America is anticipated to witness the highest growth rate over the forecast period. North America Hemodialysis Equipment Market was valued at $2,768.63 million in 2018 and is anticipated to grow at a CAGR of 5.5%. This is owing to the increasing incidences of blood related disorders, rising number of diabetes and hypertension patients, and technological advancements in healthcare industry.
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Increasing ESRD (End-Stage Renal Disease) patients is one of the factors positively helping the global market growth. The number of ESRD patients are increasing approximately by 6% per year. In 2016, there were around 3.7 million patients being treated for ESRD globally. There is a rising number of dialysis centers to treat the ESRD cases. This factor is anticipated to spur the industry growth during the forecast period. For instance, according to European Renal Care Providers Association, in 2016, within the EU, 329,000 patients received a total of 49.8 million hemodialysis treatments across 5,410 centers. Moreover, new product launches will further positively impact the growth of global hemodialysis market. For instance, in February 2019, Fresenius Medical Care North America has launched 2008T BlueStar™ Hemodialysis Machine across the U.S. Also in January 2019, Fresenius Medical Care, launched its 4008A dialysis machine, which was especially designed to meet the needs of emerging markets.
North America to Grow at Highest Rate in Hemodialysis Equipment Market
Geographically, the global hemodialysis equipment market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is forecasted to witness high growth and grow at highest CAGR during the forecast period owing to the increasing incidences of blood related disorders, rising number of diabetes and hypertension patients, and technological advancements in healthcare industry. For instance, according to American Society of Nephrology, ESRD affects more than 500,000 Americans every year, and the majority of these patients receive hemodialysis therapy. One of the prominent dialysis service provider in the region DaVita Kidney Care, opened a 150,000 square-foot campus for DaVita Labs, its diagnostic laboratory that serves DaVita dialysis clinics and their patients in September 2018. The campus marks an expansion of DaVita Labs' operations in DeLand, Fla. Europe is also expected to show substantial growth over the forecast period due to the presence of advancement in technology, new product launches and rising elderly population. For instance, PrisMax system and TherMax blood warmer by Baxter International Inc. received CE mark in October 2018. PrisMax is a continuous renal replacement therapy system. Thus, the presence of product launches is fuelling the market growth.
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Market Players
The hemodialysis equipment market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Fresinius Medical Care, B.Braun, Baxter, Asahi, Nipro, Medtronic, Nikkiso, Angiodynamics, Cantel, Toray, and Allmed. New Product Launches, partnerships, and acquisition are the major strategies adopted by the leading companies in the industry.The companies are heavily investing in the market to develop new products and are collaborating and acquiring other companies which help in increasing their market share and will also strengthen the R & D. For instance, Fresenius Medical Care, the world's largest provider of dialysis products and services, has acquire NxStage Medical in 2019.
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