Portable and Wearable Dialysis Devices Market Forecast 2031
The portable and wearable dialysis devices market size is projected to reach US$ 6.29 billion by 2031 from US$ 3.63 billion in 2022. The market is expected to register a CAGR of 6.3% in 2023–2031. Technological advancements in novel dialysis devices are likely to remain a key portable and wearable dialysis devices market trend.
Portable and Wearable Dialysis Devices Market Analysis
Kidney dialysis equipment is used in the treatment of patients with chronic kidney conditions. The equipment includes a dialyzer that filters out waste products as well as excess blood fluids when kidneys fail to perform their function adequately. Emerging portable dialysis devices offer a new generation of devices that could provide individuals with kidney failure more options to access a home-based, point-of-care treatment. The growing number of end-stage renal disease patients and the limited availability of organ donors are expected to favor the development of novel portable and wearable devices.
Portable and Wearable Dialysis Devices Market Overview
As highlighted by the Nation Kidney Foundation, 22,817 people in America received a kidney transplant in 2020; however, over 100,000 Americans are still waiting for a kidney transplant. Most patients awaiting a kidney transplant are surviving on long and unwieldy dialysis treatments multiple times a week. The limited availability of kidney donors upsurges the adoption and awareness of wearable and portable devices for treating end-stage kidney disease (ESKD).
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Portable and Wearable Dialysis Devices Market: Strategic Insights
Market Size Value in US$ 3,023.1 Million in 2019 Market Size Value by US$ 4,393.8 Million by 2027 Growth rate CAGR of 5.0% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Portable and Wearable Dialysis Devices Market: Strategic Insights
| Market Size Value in | US$ 3,023.1 Million in 2019 |
| Market Size Value by | US$ 4,393.8 Million by 2027 |
| Growth rate | CAGR of 5.0% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Portable and Wearable Dialysis Devices Market Drivers and Opportunities
Mounting Prevalence of Chronic Kidney Diseases (CKD) to Favor Market
CKD is associated with a high risk of heart diseases and ESKD and has emerged as one of the most prominent causes of death in recent times. As per an article published in ScienceDirect in April 2022, CKD is a progressive disease affecting over 10% of the population worldwide, representing over 800 million individuals. Dialysis equipment is required to manage patients with impaired kidney function. The wearable and portable hemodialysis devices offer patients an improved quality of life under therapy by allowing them to continue their daily activities. Additionally, the rise in the aging population bolsters the growth of the portable and wearable dialysis devices market.
Rising R&D Expenditure – An Opportunity in the Development of New Portable Dialysis Products
A paradigm shift from conventional hemodialysis to portable and wearable devices has resulted in increased R&D investments for advancements in dialysis devices. Manufacturers are focusing on adopting growth strategies such as product innovation, product launches, approvals, government funding, and partnerships as their developmental strategies to maintain the competitive environment in the market. For instance, in September 2023, AWAK Technologies had over $20 million in Series B funding. The Singapore-based medical technology company develops regenerative dialysis technology for end-stage renal disease. The proceeds were co-led by Lion X Ventures and Vickers Venture Partners, with the other key investors with multibillion-dollar assets under management in the healthcare sector. The funds will help AWAK complete its clinical trial, improve its product portfolio, and move closer to conducting a pivotal US-based trial before launching in the market. Such investments are likely to bring future opportunities for the Portable and Wearable Dialysis Devices market.
Portable and Wearable Dialysis Devices Market Report Segmentation Analysis
Key segments that contributed to deriving the portable and wearable dialysis devices Market analysis are product type and end user.
- Based on product type, the portable and wearable dialysis devices market is divided into hemodialysis and peritoneal dialysis. The hemodialysis segment held a larger market share in 2023.
- The market by end user is segmented into hospital, clinic, and homes. The hospital segment dominated the market in 2023.
Portable and Wearable Dialysis Devices Market Share Analysis by Geography
The geographic scope of the Portable and Wearable Dialysis Devices Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the portable and wearable dialysis devices market. Factors such as the increasing prevalence of ESKD, rising adoption of peritoneal dialysis treatments in home settings, and the presence of leading market players in the region propel regional growth. According to the United States Renal Data System (USRDS) data report, the number of individuals with ESRD peaked at 808,330 in 2019, 107% more than in 2000. It slightly decreased to 807,920 in 2020. Additionally, between 2010 and 2020, the proportion of dialysis patients who received treatment at home increased from 6.8% to 13.3%. Moreover, the market will likely experience growth opportunities in Canada and Mexico due to growing medical tourism and increasing product launches. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Portable and Wearable Dialysis Devices Market Report Scope
Portable and Wearable Dialysis Devices Market News and Recent Developments
The portable and wearable dialysis devices market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for portable and wearable dialysis devices:
- Nextkidney BV acquired Dialyss Pte Ltd. The acquisition of this Singapore-based company significantly allowed Nextkidney to boost the development and commercialization processes of its portable hemodialysis device—Neokidney. It is a small, user-friendly, cost-effective home hemodialysis device capable of handling 4 liters of dialysate per session. The device is independent of water supply and drain, rendering it available to patients anytime and anywhere (Source: Nextkidney BV, Press Release, 2022)
- Fresenius Medical Care North America (FMCNA) and DaVita Kidney Care expanded their agreement to provide home dialysis solutions in the US. This product line includes NxStage home hemodialysis (HHD) machines, dialysis supplies, and a connected health platform. The agreement aims to empower more chronic kidney failure patients to opt for home dialysis, which can improve their quality of life. (Source: DaVita Inc, Company Website, 2021)
Portable and Wearable Dialysis Devices Market Report Coverage and Deliverables
The “Portable and Wearable Dialysis Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type ; End Users ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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