Global Portable Dialysis Devices Market: Introduction
A typical hemodialysis needs three sessions per week, for 3-5 hours per session, at a medical facility. Hemodialysis involves pumping a patient’s blood through an external circuit for filtration, before it is pumped back into the body. Hemodialysis is a common type of dialysis for about 90% of all dialysis patients. Peritoneal dialysis utilizes the patient’s own abdomen across which waste is exchanged from the blood and flushed out regularly through a permanent tube in the abdomen. Peritoneal dialysis does not require regular trips to a medical facility; however, it still requires regular treatment at home. Medicare coverage is extended to a person of any age who requires either dialysis or transplantation to maintain life. According to The Regents of the University of California, 750,000 people who live with end-stage renal disease (ESRD) are 1% of the U.S. Medicare population, but account for roughly 7% of the Medicare budget. Hemodialysis care costs the Medicare system an average of $90,000 per patient annually in the U.S., for a total of US$28 billion.
Key Drivers of Global Portable Dialysis Devices Market
Increasing Number of ESRD Patients
According to National Institute of Diabetes and Digestive and Kidney Diseases, the overall prevalence of chronic kidney disease (CKD) in the general population is approximately 14%. Diabetes and high blood pressure are key causes of CKD. Half the population of individuals having CKD is also combined with cardiovascular disease (CVD) and diabetes. 661,000 people in the U.S. have kidney failure, 468,000 individuals are on dialysis, and 193,000 live with a functioning kidney transplant. Every year, renal disease kills more people than breast or prostate cancer. In 2013, more than 47,000 people in the U.S. died from kidney disease. Estimates are that 2 million people worldwide suffer from ESRD, and the number of patients diagnosed with the disease continues to increase at a rate of 5% to 7% per year. Taiwan, Japan, Mexico, the U.S., and Belgium currently have the highest prevalence of ESRD.
Limited Availability of Donor Organs
Organ transplant is a cost-effective and life-saving option for patients with organ failure. According to American Medical Association, in the U.S., the supply of organs cannot meet the need of patients on the waiting list, resulting in prolonged morbidity and higher mortality for these patients. Approximately 7500 patients die yearly while awaiting an organ transplant. In the U.S., a suboptimal 54% of adults are registered organ donors, the lack follow up preventing a donation from 20% to 40% of eligible deceased donors.
North America to Account for Major Share of Global Portable Dialysis Devices Market
- North America is projected to account for a major share of the global portable dialysis devices market during the forecast period. The market in the region is anticipated to expand at a rapid pace in the next few years due to an increase in research & development and various government initiatives for the development of novel ideas. Europe is expected to be the second-largest market, globally, during the forecast period.
- The portable dialysis devices market in Asia Pacific is likely to expand at a high CAGR during the forecast period. This can be attributed to a rise in investment in research & development by private and government organizations and increase in healthcare management.
Key Players Operating in Global Portable Dialysis Devices Market
The global portable dialysis devices market is highly consolidated, owing to the presence of a small number of key players. Leading players operating in the global portable dialysis devices market include:
- B. Braun Melsungen AG
- Baxter International Inc
- AllMed Healthcare Management, Inc
- Asahi Kasei Corporation
- Fresenius Kabi AG
- AWAK Technologies
- Quanta Dialysis Technologies Ltd
Global Portable Dialysis Devices Market: Research Scope
Global Portable Dialysis Devices Market, by Product
- Peritoneal Dialysis
Global Portable Dialysis Devices Market, by End-user
- Hospitals and Clinic
- Home care settings
Global Portable Dialysis Devices Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.