Global Dialysis Devices and Equipment Market Report 2020: Market is Expected to Recover and Reach $19.5 Billion in 2023 - Forecast to 2030
DUBLIN, Jan. 19, 2021 /PRNewswire/ -- The "Dialysis Devices and Equipment Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global dialysis devices and equipment reached a value of nearly $16,534.0 million in 2019, having increased at a compound annual growth rate (CAGR) of 3.1% since 2015. The market is expected to decline from $16,534.0 million in 2019 to $13,293.5 million in 2020 at a rate of -19.6%.
The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8.7% from 2021 and reach $19,591.8 million in 2023. The market is expected to reach $21,939.9 million in 2025, and $29,010.8 million in 2030.
Growth in the historic period resulted from rise in healthcare expenditure and rapid growth in elderly population. Factors that negatively affected growth in the historic period were low healthcare awareness and reimbursements. Going forward, increasing prevalence of chronic diseases, technological advancements and increasing home therapies will drive the growth. Factors that could hinder the growth of the dialysis devices and equipment in the future include COVID-19 pandemic and high cost of equipment and presence of alternative treatment.
The dialysis devices and equipment is segmented by product into hemodialysis devices, peritoneal devices, consumables and continuous renal replacement therapy (CRRT). The consumables market was the largest segment of the dialysis devices and equipment segmented by product, accounting for 64.7% of the total in 2019. Going forward, the peritoneal dialysis devices segment is expected to be the fastest growing segment in the dialysis devices and equipment segmented by product, at a CAGR of 4.7% during 2019-2023.
The dialysis devices and equipment is also segmented by end use into hospitals and clinics, home care settings and ambulatory surgical centers. The hospital and clinics market was the largest segment of the dialysis devices and equipment segmented by end use, accounting for 71.8% of the total in 2019. Going forward, the home care settings segment is expected to be the fastest growing segment in the dialysis devices and equipment market segmented by end use, at a CAGR of 4.6% during 2019-2023.
North America was the largest region in the global dialysis devices and equipment, accounting for 34.5% of the total in 2019. It was followed by Asia-Pacific and Western Europe, and then the other regions. Going forward, the fastest-growing regions in the dialysis devices and equipment will be the Middle East, and Asia Pacific, where growth will be at CAGRs of 6.9% and 6.6% respectively. These will be followed by Eastern Europe, and the Africa, where the markets are expected to grow at CAGRs of 5.3% and 4.1% respectively.
The global dialysis devices and equipment is concentrated, with a small number of large players in the market. The top ten competitors in the market made up to 59.0% of the total market in 2019. Major players in the market include Fresenius Medical Care AG And Co. KGaA, Baxter International, Nipro Corporation, B Braun Melsungen and Medtronic plc.
The top opportunities in the dialysis devices and equipment segmented by product will arise in the consumables segment, which will gain $2,124.6 million of global annual sales by 2023. The top opportunities in the dialysis devices and equipment segmented by end user will arise in the hospitals and clinic segment, which will gain $2,162.9 million of global annual sales by 2023.
The dialysis devices and equipment size will gain the most in China at $736.2 million. Market-trend-based strategies for the dialysis devices and equipment include focusing on developing peritoneal dialysis devices, expanding the product portfolio for homecare settings and focusing in acquisitions and mergers to expand the business. Player-adopted strategies in the dialysis devices and equipment include expanding through strategic acquisitions and expansion through the launch of new devices.
Amidst the unprecedented outbreak of corona virus, governments across the world are advising people to stay indoors and practice social distancing, to reduce the spread of the pandemic. This has decreased short-term potential growth opportunities for the dialysis devices and equipment industry. Lockdown effected the transportation, access to health care facilities, availability of medicines and consumables as well as both inpatient and outpatient services. Increased surge in COVID-19 cases and increasing hospital expenditure towards emergency equipment led to decline in purchase activities of dialysis devices and equipment across the globe. This has resulted in short term decline in demand for dialysis devices and equipment. However, the COVID-19 infection can increase the risk of acute kidney injury can positively affect the dialysis devices and equipment market.
To take advantage of the opportunities, the report recommends the dialysis devices and equipment companies to focus on disposable consumables, focus on peritoneal dialysis devices, home therapies, increasing merger and acquisition activity, expand in emerging markets, leverage e-commerce to maximize reach and revenues, provide competitively priced offerings in low-income countries to reach new users, premium pricing for advanced equipment, companies should focus on increasing healthcare awareness, participate in trade shows and events, and focus on individual customers.
Companies Mentioned
- Fresenius Medical Care AG And Co. KGaA
- Baxter International
- Nipro Corporation
- B Braun Melsungen
- Medtronic plc
For more information about this report visit https://www.researchandmarkets.com/r/o7h398
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