Chronic Hemodialysis Catheter Market To See Record Break Revenue $446 Million By 2027
Pune, Maharashtra, India, September 24 2020 (Wiredrelease) Allied Analytics –:The global chronic hemodialysis catheter market size was valued at $354 million in 2019, and is projected to reach $446 million by 2027, growing at a CAGR of 3.7% from 2020 to 2027.
Hemodialysis is a process of blood purification in patients suffering from kidney disease by means of external hemodialyzer or artificial kidney. A hemodialyzer is connected to patient with the help of catheter and external tubing to facilitate efficient removal of wastes such as urea and extra fluid from blood. Hemodialysis catheter is implanted into patient’s vein to provide vascular access during dialysis process for efficient transfer of blood from patient to dialysis machine. A catheter consists of tubes, hub, extension, clamps, and cuffs.
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Rise in prevalence of kidney diseases is expected to result in surge in number of end-stage renal diseases (ESRD) patients around the globe, which is projected to boost the demand for hemodialysis catheters during the study period. In addition, technological advancements in hemodialysis catheters and lack of kidney donors are projected to fuel the chronic hemodialysis catheter market growth. Moreover, rise in utilization of hemodialysis catheters, increase in use of antimicrobial-coated hemodialysis catheters, surge in number of dialysis centers, and rise in patient awareness toward hemodialysis treatment are anticipated to drive growth of the market. However, complications associated with hemodialysis catheters and lack of access of hemodialysis catheters in underdeveloped countries is expected to hinder growth of the market.
COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe diseases. A large number of coronavirus patients are suffering acute kidney damage, contributing to a rising need for onsite hemodialysis treatment in healthcare facilities. Thus, complications caused in the urinary system, by the COVID-19 infection is expected to maintain the demand for hemodialysis catheter products. This in turn, has limited the impact of COVID-19 on the chronic hemodialysis catheter market.
By type of tip, the step-tip catheters segment dominates the global chronic hemodialysis catheter market, and is anticipated to continue this trend during the forecast period. The key factors such as increase in number of hemodialysis patients, rise in demand for step-tip hemodialysis catheters, increase in number of patients suffering from chronic kidney disorders (CKD), technological development in step-tip catheters and dialysis equipment, increase in awareness programs for hemodialysis treatment & management around the globe drive the market growth of this segment.
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On the basis of material, polyurethane segment accounts for the majority of chronic hemodialysis catheter market share, owing to advantages offered by polyurethane catheters such as good tensile strength & softness, bigger inner diameter for maximum blood flow, and requirement of less wall thickness for strength as compared to silicone. In addition, they are biocompatible and are good choice for long term catheterization. Moreover, surge in demand for double lumen polyurethane long-term hemodialysis catheters drive growth of the segment.
North America accounted for second largest share of the global chronic hemodialysis catheter market in 2019. This was attributed to increase in demand for hemodialysis catheter products, availability of well-developed infrastructure, presence of majority of key players, rise in number of patients suffering from chronic kidney disorders (CKD), and availability of trained medical professionals.
However, Asia-Pacific is expected to experience the highest revenue and growth rate during the forecast period, majorly owing to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcare.
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Key Findings Of The Study
• By type of tip, the step-tip catheters segment held largest chronic hemodialysis catheter market share in 2019, and is expected to remain dominant throughout the forecast period.
• On the basis of material, the polyurethane segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
• According to end user, the home dialysis segment exhibits fastest growth, and is expected to grow at a CAGR of 4.6% from 2020 to 2027.
• Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 4.3% during the forecast period.
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