Product ID: SQMIG35A2714
Global Home Dialysis Systems Market Size, Share, Growth Analysis, By Type(Peritoneal dialysis and hemodialysis), By Product(Service, device) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2714 |
Region:
Global |
Published Date: February, 2024
Pages:
267
|
Tables:
61 |
Figures:
68
Global Home Dialysis Systems Market Insights
Home Dialysis Systems Market size was valued at around USD 17.5 billion in 2019 and is expected to reach a value of USD 42.29 billion by 2031, at a CAGR of 10.3% over the forecast period (2024-2031).
Technological developments, transplant risks, increased incidence of chronic renal illnesses, initiatives by key companies to introduce new products and services, and a shortage of organ donors are a few factors boosting demand for home dialysis systems, hence fueling market expansion. For example, transferring Outset Medical, Inc., a medical technology company trying to reduce the complexity and cost of dialysis, joined Health Home, an alliance of innovative healthcare firms intending to drastically rethink the way policymakers think about home healthcare, in May 2021. They hope to urge politicians to reconsider the home as a center of care for clinical treatment, such as chronic disease management, through collaborations in the healthcare sector. As a result of these activities, the market is expected to grow in the near future.
During the COVID-19 pandemic, patients with kidney failure who usually have immunological dysfunction have profited immensely from the remote patient management platform, allowing them to complete their dialysis at home, where they may be safer by socially isolating themselves. Baxter International Inc., for example, unveiled the premium Analytics share source 1.0 module, the next generation of digital health for home-based peritoneal dialysis patients, in June 2021. Share source Analytics 1.0 is a clinical management resource available as part of the Share source remote patient management platform that offers healthcare providers a full dashboard containing trend data from their patients' home dialysis treatments. Baxter plans to collect a monthly fee and spread out the product globally over the next year, beginning in the United States.
The rising frequency of chronic renal disease is predicted to drive up demand for home dialysis equipment. ESKD, also known as end-stage renal disease, affects approximately 786,000 people in the United States, according to the Centers for Disease Control and Prevention (CDC) 2020 estimate, with 29% requiring a kidney transplant and 71% requiring dialysis. According to the same source, 12.5% of all dialysis patients did their dialysis at home by the end of 2018. The number of patients receiving home dialysis more than doubled between 2008 and 2018. As a result, market growth is expected to accelerate in the near future. In 2021, the United States dominated the market. The demand for home care dialysis services is predicted to rise throughout the forecast period as a result of various initiatives conducted by organizations and governments. As part of a kidney care campaign, America's Health Insurance Plans (AHIP) will support access to home dialysis in 2019. Additionally, Baxter International Inc. fully supported the administration's Advancing American Kidney Health Initiative in July 2019. The Administration hopes that by 2031, the number of new end-stage renal disease (ESRD) patients obtaining organ transplants and home dialysis would have climbed to 80%.
US Home Dialysis Systems Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Home Dialysis Systems Market Report Snapshots
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