Persistence Market Research’s recent report on “Global Market Study on Kidney Dialysis Equipment: Latin America Expected to Emerge the Third Attractive Regional Market ” forecasts the market revenues to reach US$ 25.128 Bn by 2024 end. The US$ 15 Bn kidney dialysis market is projected to grow at a CAGR of 6.5% through 2024.
Increasing Prevalence of Chronic Kidney Disease and Adoption of Technologically Advanced Products Spurring Demand
The preponderance of chronic kidney disease (CKD), aggravated by geriatric population and rising life expectancy, will continue to spur the demand for hemodialysis therapy. Expanding ESRD patient pool is another factor influencing market growth. Favorable government initiatives and rising healthcare funding to increase awareness about therapeutic modalities are also anticipated to boost equipment sales during the forecast period. The introduction of technologically advanced and user-friendly dialysis equipment and adoption of renal dialysis over kidney transplantation are key trends impacting the market.
“Manufacturers will discover lucrative opportunities in pediatric dialysis. In addition, rising demand for cost-effective equipment in low and middle-income countries will also present multiple revenue generation channels”.
– Analyst, Life Sciences & Transformational Health, Persistence Market Research
Asia Pacific will Remain at the Forefront of Global Demand for Kidney Dialysis Equipment
Asia Pacific will remain the largest and the fastest growing market for kidney dialysis equipment throughout the projected period. Valued at US$ 4.57 Bn currently, the market in APAC is foreseen to surpass US$ 9.0 Bn by the end of 2024, accounting for over 38% market value share. North America, Europe, and Latin America will be the other key markets globally. While APAC is expected to thrive at a CAGR of 9.9%, MEA, and Latin America will remain the other fast-growing markets globally.
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