South and Central America Portable and Wearable Dialysis Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type ; End users, and Country
NEW YORK, Nov. 24, 2020 /PRNewswire/ -- The South and Central America portable and wearable dialysis devices market is expected to reach US$ 409.06 million by 2027 from US$ 302.18 million in 2019; the market is estimated to grow at a CAGR of 4.1% from 2020 to 2027.
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The growth of the South and Central America and portable and wearable dialysis devices market is attributed to the growing prevalence of chronic kidney conditions and end stage renal diseases.Further, increasing geriatric population and rising wearable dialysis device adoption are also projected to drive the market growth during the forecast period.
Technological advancements in dialysis devices are also anticipated to accelerate the market growth in the coming years.The outbreak of the COVID-19 pandemic is estimated to have substantial impact on the portable and wearable dialysis device market.
Certain parameters such as disruptions in supply chain distributions and postponement of kidney treatments are anticipated to have negative impact on the adoption of wearable and portable dialysis devices. These factors are expected to hamper the growth of the market in years to come.
A significant gap between demand and supply of organs for transplantation creates a lucrative opportunity for growth of the portable and wearable dialysis devices in the region. For instance, according to data published by Brazilian Association of Organ Transplantation in 2016, Brazil has a limited number of organ donors, i.e., 16 per one million population. Such shortage of organ transplantation might lead to adoption of wearable and portable dialysis devices, leading to growth of the market.
Based on product type, the South and Central America portable and wearable dialysis devices market is segmented into hemodialysis and peritoneal dialysis. In 2019, the hemodialysis segment held a larger share of the market, and it is further expected to register a higher CAGR during the forecast period.
A few major primary and secondary sources referred to in the process of preparing the report on the portable and wearable dialysis devices market are the World Health Organization (WHO), Ministry of Health and Prevention, and Ministry of Health and Family Welfare.
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