Global Wearable Artificial Kidney Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

In the US approximately 750,000 patients suffer from End-Stage Renal Disease (ESRD) per year, and globally 2 Mn people are affected by this disease

The Global Wearable Artificial Kidney Market is estimated to be USD 164.88 Mn in 2023 and is expected to reach USD 402.3 Mn by 2028 growing at a CAGR of 19.53%.

One of the key drivers in the global kidney dialysis equipment market is the rising prevalence of kidney disorders. Chronic kidney disease (CKD) and end-stage renal disease (ESRD) are increasingly common health issues, often caused by factors such as diabetes, hypertension, and an aging population. As the number of individuals affected by kidney disorders continues to grow, the demand for kidney dialysis equipment, including hemodialysis and peritoneal dialysis machines, is on the rise. These machines are vital in providing life-sustaining treatment to individuals with compromised kidney function. The growing burden of kidney-related conditions underscores the significance of kidney dialysis equipment and fuels market growth.

The lack of awareness is a significant restraint in the global kidney dialysis equipment market, particularly in underdeveloped economies. In some regions, awareness about kidney health and the availability of dialysis treatment options may be limited. This lack of awareness can delay diagnoses and hinder access to life-saving dialysis equipment. Moreover, individuals in underdeveloped economies may face barriers in seeking appropriate healthcare, including dialysis services, due to socioeconomic disparities. Overcoming this restraint requires a concerted effort to raise awareness about kidney disorders, the importance of early diagnosis, and the accessibility of dialysis equipment. Collaboration with healthcare organizations and government initiatives can be pivotal in addressing this challenge and expanding the market's reach.

Market Segmentations

• The Global Wearable Artificial Kidney Market is segmented based on Disease Type, Dialysis Type, End-Users, and Geography.
• The global wearable artificial kidney market offers a range of innovative solutions for individuals at different stages of kidney disease. This analysis explores two primary segments based on disease stage: Acute Renal Disease and End-Stage Renal Disease (ESRD), providing insights into the specific roles and market implications of wearable artificial kidneys for each stage.
• Acute Renal Disease refers to a sudden and temporary loss of kidney function, often resulting from severe infections, injuries, or medical conditions. Patients with acute renal disease may experience a rapid decline in kidney function, which, if left untreated, can lead to life-threatening complications. Wearable artificial kidneys designed for individuals in this disease stage offer a portable and efficient means of providing renal support. These devices assist in the removal of waste products and excess fluids from the bloodstream, compensating for the impaired kidney function temporarily. In this context, wearable artificial kidneys serve as a bridge to recovery, allowing patients to regain kidney function while ensuring adequate waste removal. The market for wearable artificial kidneys in the acute renal disease stage addresses the need for portable and effective renal support in emergency or critical care settings.
• End-stage renal Disease (ESRD) signifies the most advanced and irreversible form of kidney disease, where kidney function has deteriorated significantly, often to the point where the kidneys are no longer capable of sustaining life. Patients with ESRD require ongoing renal replacement therapy, typically in the form of hemodialysis or peritoneal dialysis. Wearable artificial kidneys designed for individuals with ESRD offer a groundbreaking approach to continuous renal replacement therapy. These compact, wearable devices aim to enhance the quality of life for ESRD patients by providing continuous or frequent dialysis treatment without the need for frequent clinic visits. The market for wearable artificial kidneys in the ESRD stage addresses the need for improved mobility, reduced treatment burdens, and better patient outcomes in a population with a chronic and life-altering medical condition.

Recent Developments

• AWAK Technologies has unveiled a significant clinical trial for an upgraded Peritoneal Dialysis device, the Automated Wearable Artificial Kidney. This innovative and highly portable wearable device enables individuals suffering from end-stage renal diseases to undergo dialysis while leading an active lifestyle. - June 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Blood Purification Technologies Inc., AWAK Technologies Pte. Ltd., San Bortolo Hospital, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Wearable Artificial Kidney Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Wearable Artificial Kidney Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Wearable Artificial Kidney Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market