Insights into Dialysis Market and it’s growth outlook
Category: #health  By Partha Ray  Date: 2019-08-30
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Insights into Dialysis Market and it’s growth outlook

A rapid increase in prevalence of obesity and subsequent rise in cases of diabetes and renal failure across the globe would be fostering dialysis market growth in forthcoming years. In 2018, the World Health Organization (WHO) reported that the total number of people suffering from diabetes hit the 422 million-mark in 2014. Apparently, the disease accounted for approximately 1.6 million deaths in 2016, making it the world’s seventh leading cause of death.

Diabetes as a disorder cannot be cured completely, but its consequences can be mitigated or avoided through physical activity, diet regulation, medication as well as regular checkups and treatment of complications. According to the National Kidney Foundation, while degrading kidney health is one of the most severe complications of diabetes, it can be taken care of through dialysis that will promote dialysis industry size further.

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The WHO, in its 2018 report, discovered a pattern wherein the prevalence of diabetes is rising exponentially in low and middle-income nations. The International Diabetes Federation further corroborated the claim when it reported that India is witnessing a significantly high number of diabetes cases, which may increase renal failure incidences and help to drive the regional dialysis market share .

According to a 2017 Hindustan Times report, the number of diabetes cases in India is expected to almost double over the next decade because of the enormous number of prediabetes cases across the country. Reports indicate that even Indian states with a relatively low incidence of diabetes cases may emerge as prominent growth avenues for India regional dialysis industry.

The prevalence of diabetes and end stage renal failure in developed nations is more or less similar to that of emerging economies. According to the U.S. Centers of Disease Control and Prevention (CDC), cases of diabetes in the United States, though leveling off, are still substantial, standing at 100 million and giving dialysis market ample growth opportunities.

The CDC attributes the high number of diabetes incidences to more individuals developing the disease during their youth. Ethnic and racial minorities are developing the disease at much higher rates, which is impacting North America dialysis market share.

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The fast-growing geriatric populace susceptible to suffer from chronic diseases is influencing U.S. dialysis market size, which was pegged at $24 billion in 2017. U.S. dominated North America dialysis market in 2017 and will continue to drive positive growth for the continent due to the presence of major players in the country.

Rising prevalence of chronic kidney diseases (CKD) will drive UK dialysis market size. A 2019 survey conducted by the National Institute for Health and Care Excellence in 2016 found that 13% of England’s adults aged 16 years and older were suffering from CKD; stages one to five. While only 5% of the surveyed adults had CKD in later stages; three to five, the percentage hit 34% for the geriatric population aged 75 and above. Rising regional demand for CKD treatment will boost UK dialysis industry size, slated to register a 4.9% CAGR over 2018-2024.

Rigorous research and development efforts being undertaken by notable industry players is adding value to dialysis market. The R&D activities are triggered by the general ineffectiveness of hemodialysis, the most common type of dialysis – approximately 90%, in treating end stage renal disease (ESRD). Efforts to bring superior hemodialysis products to the mainstream will augment hemodialysis market size, slated to grow at a 3.8% CAGR over 2018-2024.

Fresenius, a prominent dialysis industry player is expected to stand out in coming years as far as product innovation is considered. The firm, in its 2018 annual report, recorded a 4% increase in its revenue with the number hitting the €16,547 million-mark. Rising efforts to bring state-of-the-art ESRD treatment for patients will drive dialysis market trends.

Global Market Insights, Inc., claims dialysis market size to surpass $104 billion by 2024.

 

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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