Reportlinker.com announces the release of the report "Dialysis Devices And Equipment Global Market Report 2020-30: Covid 19 Impact and Recovery" - https://www.reportlinker.com/p05967817/?utm_source=GNW
2 billion in 2019 to $5 billion in 2020 at a compound annual growth rate (CAGR) of -19.6%. The decline is mainly because of worldwide supply and demand mismatches of resources due to the COVID-19 outbreak. There is an inadequate production of nephrology and urology devices due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 4.3% from 2021 and reach $7.3 billion in 2023.
The dialysis devices and equipment market consists of the sale of dialysis devices and equipment related services. Dialysis devices and equipment are used in the dialysis process to filter the patient's blood, in order to remove waste products such as urea, creatinine and excess water, such impurities usually occur when the kidneys fail or are damaged. Companies in this industry primarily engage in the production of dialyzers and dialysis pumping machines but can also produce other instruments used in the dialysis process, including blood pumps, catheters and tubing kits.
North America was the largest region in the dialysis devices and equipment market in 2018. This region is expected to remain the largest during the next five years.
B. Braun completed the acquisition of NxStage's Bloodlines business in February 2019 for a $2 billion. This acquisition will help improve the quality of B Braun's hemodialysis system and would also enhance its portfolio of bloodline business which would help in strengthening the company's position in the market. NxStage Medical, Inc. is involved in the manufacturing of dialysis devices used for the treatment of end-stage renal disease (ESRD). One Cycle, PureFlow SL and Nx2me Connected Health are the company's various products. It was founded in 1998 and is headquartered in Maddison, USA.
Product recalls has been the major restraint in the dialysis devices and equipment market. Product recalls are actions taken by organizations or any regulatory authority like US FDA to remove a product or device from the market. The dialysis devices and equipment are removed from the market when they fail to perform the functions for which they were manufactured. For example, In April 2016, B. Braun Medical Inc. recalls Dialog hemodialysis systems due to defective conductivity sensors. This machine is used in the treatment of chronic kidney disease for patients whose kidneys are no longer healthy enough to filter the blood to get rid of the wastes and excess fluid. Similarly, In December 14, 2017 the Dialyzer, a device by Fresenius Medical Care group was recalled due to the invalid message shown on the equipment when Sustained Low Efficiency Dialysis (SLED) program is used.
The latest trend in the dialysis devices and equipment market is the use of technology to develop innovative products that can enhance functionality. To enhance the quality of the devices, new methods are being developed to speed up the process of filtering the blood and improve the overall filtration process. As a result of improved technology products like Revaclear High-Flux Dialyzer by Baxter, which enhances the filtration process of the blood by improving the speed at which the blood is filtered are being developed. Revaclear dialyzers are devices which can help detect renal failure by hemodialysis. With the improvement in technology the innovations in the devices are expected to continue.
In January 2019, a wearable, portable peritoneal dialysis device manufactured by Singapore based AWAK Technologies received FDA's breakthrough device designation to be used by the end-stage renal disease patients. According to the clinical trial of AWAK Peritoneal Dialysis device conducted at Singapore General Hospital, device efficiently removed the accumulation of toxins from the body. Such approvals by FDA positively impacts the global dialysis devices market.
The increasing prevalence of kidney failure is driving the market for dialysis devices and equipment. The main purpose of the dialysis devices and equipment is to artificially filter the blood to get rid of any toxins in the blood and to prevent such waste products from reaching hazardous levels. Chronic kidney disease (CKD) is a condition in which the kidneys are damaged and cannot filter the blood. According to the National kidney report, 2019, 30 million Americans are affected by CKD, and 90% of people are unaware. 1 in 3 Americans run the risk of being diagnosed with CKD. In USA, kidney disease is the 9th leading cause of death.
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