Market Trends of Artificial Kidney Industry
The Wearable Artificial Kidney Segment is Expected to Hold a Significant Share in Market During the Forecast Period
Wearable artificial kidneys are a portable medical technology that allows patients to benefit from dialysis at home while going about their daily activities. This gadget improves the lives of patients with end-stage renal disease by eliminating hospital stays and enhancing physiological aspects by lowering hypertension. It reduces sodium retention and the risk of stroke and vascular disease, and it is less expensive than alternative medications for renal failure patients.
Factors such as the rising prevalence of kidney diseases, the growing uptake of wearable artificial kidneys, and strategic initiatives by market players are anticipated to boost segment growth during the forecast period.
Wearable/portable kidneys improve dialysis by allowing for home dialysis and improving frequency and autonomy, which leads to an increase in the demand for wearable kidneys over the implantable kidney. Home dialysis has advantages over in-center hemodialysis and has the potential to save the healthcare system money. There are several portable home hemodialysis systems available, including the NxStage System One (NxStage Medical Inc.), the 2008K home (Fresenius Medical Care), and the SC+ hemodialysis system (Quanta).
In addition, the profound role of artificial kidneys in dialysis and several other benefits associated with wearable artificial kidneys are further anticipated to propel segment expansion during the forecast period. For instance, according to an article published by the World Journal of Transplantation in March 2024, wearable artificial kidneys are significantly useful in patients with kidney failure. In addition, as per the same source, the wearable artificial kidney was well tolerated in patients and is mainly used for fluid homeostasis. Thus, such benefits associated with these systems are anticipated to augment their adoption and are projected to boost segment growth during the forecast period.
Additionally, the growing focus of market players on developing wearable artificial kidneys and their anticipated launch in the market is expected to boost the market growth. For instance, in February 2023, NextKidney raised EUR 11.9 million (USD 14.82 million) in a Series B round of funding to develop a portable hemodialysis device for patients. Thus, such efforts undertaken by the industry participants are projected to foster segment expansion, which is anticipated to boost market growth during the forecast period.
Thus, all aforementioned factors, such as the growing burden of kidney diseases and regulatory approval and funding activities, are expected to boost the segment's growth during the forecast period.
North America is Expected to Hold a Significant Market Share During the Forecast Period
North America is projected to have a significant market share in the artificial kidney market during the forecast period. This is due to factors such as the increasing prevalence of chronic kidney diseases and kidney cancers, as well as the presence of well-established healthcare infrastructure and high health spending. Additionally, the significant presence of market participants in the region and various strategic initiatives undertaken by industry participants are further expected to promote regional market growth. The growing burden of kidney diseases, which lead to kidney damage or failure, is likely to increase the demand for artificial kidneys. For instance, according to an article published by the Canadian Journal of Kidney Health and Disease in February 2023, in Canada, chronic kidney disease (CKD) is a significant health problem, and around 4 million Canadians are living with the condition. In addition, according to 2024 updated data from the American Cancer Society, around 81,610 Americans are projected to be diagnosed with kidney cancer in 2024. Thus, the significant burden of chronic kidney disease and kidney cancer is projected to augment the demand for artificial kidneys to restore normal kidney functions, which, in turn, is projected to boost market growth during the forecast period.
In addition, the increased funding activities for the development of artificial kidney products are further projected to accelerate regional market growth. For instance, in August 2023, Dr. William Chang received a prize of USD 9.2 million to bolster his research on bioartificial kidneys.
Moreover, in August 2022, the American Society of Nephrology (ASN) and the United States Department of Health and Human Services (HHS) announced a new prize competition from KidneyX and that KidneyX launched a new artificial kidney prize with USD 10.5 million in funding. Thus, such growing funding activities for artificial kidneys in the region are anticipated to foster growth over the coming years.
Thus, all aforementioned factors, such as the growing burden of chronic kidney diseases and the growing focus on the development of artificial kidneys, are expected to boost the market during the forecast period.
