May 27, 2024
Global Wearable Artificial Kidney Market

The Global Wearable Artificial Kidney Market Is Poised For Robust Growth Due To Rising Cases Of Kidney Failure

The global wearable artificial kidney market comprises medical wearable devices that can temporarily perform the functions of kidneys in patients suffering from kidney failure or diseases. A wearable artificial kidney is considered an important advancement as it allows patients with renal issues freedom of movement and does not require being hooked to a dialysis machine repeatedly. The device works by clearing blood of toxins and excess fluid through hemofiltration and helps manage electrolyte and acid-base balance. The growing prevalence of chronic diseases like diabetes and high blood pressure leading to end-stage renal disease is a major driver for the market.

The Global wearable artificial kidney market is estimated to be valued at US$ 22.46 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the global wearable artificial kidney market are B. Braun SE, AWAK Technologies, Blood Purification Technologies Inc., Nextkidney, Triomed AB, SB-KAWASUMI LABORATORIES, INC., Asahi Kasei Medical Co., Ltd., Nanodialysis BV, Semperit AG Holding, KidneyX.

Key players are focussing on developing miniature and portable Global Wearable Artificial Kidney Market Trends  using novel materials and advanced purification methods. Nextkidney, for example, is working on a wearable dialyzer that can clear toxins from the blood outside conventional dialysis centers. Advancements in the field are expected to provide freedom from being tied to dialysis machines and improve quality of life of patients.

The global expansion of the wearable artificial kidney market will be driven by rising incidences of end-stage renal disease across regions like Asia Pacific, South America, Middle East and Africa owing to lifestyle changes, growing geriatric population and better access to healthcare. Players are expanding their R&D activities and manufacturing footprint in high growth markets to cater to the increasing demand.

Market Drivers

The major driver for the global wearable artificial kidney market is the rising prevalence of chronic kidney diseases due to conditions like diabetes, high blood pressure etc. It is estimated that over 10% of the global population is affected by chronic kidney disease with cases growing at an alarming rate. A wearable artificial kidney can help bridge the gap between need and availability of conventional dialysis by allowing patients to filter their blood independent of time and place of dialysis. This is expected to boost demand and uptake of the novel technology.

PEST Analysis

Political: Regulations related to reimbursement for dialysis treatment financially impacrts the adoption of wearable kidney technology. Government initiatives to encourage innovation may boost R&D investments in this domain.
Economic: Growth in disposable income levels increases affordability of advanced medical solutions. Launch of universal healthcare policies can expand access to innovative renal replacement therapies.
Social: Rising incidence of kidney diseases due to sedentary lifestyles and unhealthy diets raises the need for alternate treatment options. Growing awareness about organ donation and transplantation influences product acceptance.
Technological: Developments in fields like bio-compatible materials, micro-fluidics, and medical device miniaturization aid the design of small-scale, portable kidney devices. Digital health and remote patient monitoring also support the technology.

The global wearable artificial kidney market in terms of value was heavily concentrated in North America and Europe in 2024. The regions accounted for over 65% share due to advanced healthcare infrastructure, high disease awareness, and presence of major market players. Asia Pacific is envisaged to emerge as the fastest growing regional market between 2024-2031. Factors such as rapidly ageing population, increasing healthcare spending, growing burden of chronic conditions, and rising medical tourism are expected to drive high demand for wearable kidney devices in Asia Pacific countries like China and India during the forecast period.

The wearable artificial kidney market was dominated by North America in terms of value in 2024 with the United States accounting for the major share. This can be attributed to factors such favorable reimbursement policies, continuous technology advancements, rising per capita healthcare expenditure, and presence of leading market players. On the other hand, Asia Pacific was identified as the fastest growing regional market and is expected to expand at a CAGR of over 16% during the forecast period of 2024-2031. Factors such as rapidly growing geriatric demography, rising burden of lifestyle diseases, increasing focus on research and adoption of advanced treatment solutions, and expanding private healthcare sector are estimated to drive high demand for wearable artificial kidney technologies in Asia Pacific region over the next few years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.