Market Overview:
The artificial kidney market comprises portable and wearable dialysis machines that function as an artificial replacement for failed kidneys in patients with end-stage renal disease. These devices help filter out waste and excess fluid from the blood when the kidneys are unable to perform their functions effectively. advances in microfluidic and biomimetic membrane technologies have enabled the development of miniaturized dialysis devices that can potentially be implanted or worn externally like a vest. The growing prevalence of chronic kidney disease and scarcity of organ donors has been driving research to develop more practical and affordable artificial kidney alternatives.
Market key trends:
Miniaturization of dialysis technology: Major players are focusing on developing smaller and more portable hemodialysis devices using microchip and 3D printing technologies. This allows dialysis to be administered independent of large central dialysis units. For example, AWAK Technologies has developed a wearable artificial kidney small enough to fit inside a vest.
Biomimetic membrane development: Researchers are designing membranes that mimic the selective filtering abilities of the kidney glomerular barrier. This helps achieve near-normal clearance of uremic toxins and prevent protein leakage. Triomed is working on a membrane integrated within a miniaturized extracorporeal device.
Public-private partnerships: Government agencies are collaborating with companies to accelerate artificial kidney development. In 2020, the U.S. Department of Defense partnered with Carmat to develop an implantable bioartificial kidney for soldiers. Such initiatives provide funding and resources to transition technologies out of the lab faster.
The global Artificial Kidney Market Demand is estimated to be valued at US$ 7.00 Bn in 2023 and is expected to exhibit a CAGR of 60% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the heavy R&D investments required in creating new artificial kidney technologies.
Bargaining power of buyers: The bargaining power of buyers is high given the life saving nature of the product and availability of few key players in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the suppliers have to rely on specialized component manufacturers.
Threat of new substitutes: The threat of new substitutes is low as there are limited treatment options for kidney failure currently.
Competitive rivalry: Intense competition exists among the key players to gain higher market share.
Key Takeaways
The global artificial kidney market is expected to witness high growth, exhibiting CAGR of 60% over the forecast period, due to increasing prevalence of kidney diseases. As per the statistics by International Society of Nephrology, around 2 million people die annually due to kidney failure worldwide.
Regionally, North America is expected to dominate the artificial kidney market throughout the forecast period. This is attributed to growing elderly population, rising health awareness and favorable reimbursement policies in the region. Asia Pacific is anticipated to exhibit the fastest growth over 2023-2030 on back of increasing healthcare expenditure, growing medical tourism industry and rising disposable income in developing Asian countries.
Key players operating in the artificial kidney market are Kawasumi Laboratories Inc., Blood Purification Technologies Inc., AWAK Technologies Pte. Ltd, Triomed AB, Asahi Kasei Medical Vo. Ltd, US Kidney Research Corporation, Merit Medical Systems, NIPRO Medical Corporation, Fresenius SE & Co. KGaA. These players are focusing on new product launches and geographical expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it