According to a new report published by Allied Market Research, titled, "Hemodialysis Catheters Market by Product, Material, Tip Configuration, Material, and End User: Global Opportunity Analysis and Industry Forecast, 2017 - 2023," the global hemodialysis catheters market was valued at $663 million in 2016, and is projected to reach $926 million by 2023, growing at a CAGR of 4.8% from 2017 to 2023.
Hemodialysis is a process of blood purification in patients suffering from kidney disease by means of external hemodialyzer or artificial kidney. The dialyzer is connected to patient with the help of catheter & external tubing and facilitates efficient removal of wastes such as urea and extra fluid from blood.
The hemodialysis catheter is implanted into the patients vein to provide vascular access during dialysis process for efficient transfer of blood from patient to dialysis machine. The catheter consists of tubes, hub, extension, clamps, and cuffs.
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Increase in prevalence of number of kidney diseases is expected to result in surge in the number of kidney patients around the globe, which is projected to boost the demand for hemodialysis catheters during the study period. Moreover, technological advancement in these catheters and lack of kidney donors are projected to fuel the market growth.
Cuffed tunneled catheter segment is anticipated to lead the market throughout the analysis period, owing to increase in the number of hemodialysis patients.
Clinics/dialysis centers segment accounted for $ 369 million of the revenue in 2016. Furthermore, the home dialysis segment is anticipated to grow at the highest rate, registering a CAGR of 5.3% from 2017 to 2023, due to factors such as user convenience and cost-effectiveness provided by the home dialysis machines.
Asia-Pacific dominated the market in 2016, accounting for 5.1% of the overall hemodialysis market.
This is attributed to the availability of efficient hemodialysis centers and favorable reimbursement policies in the developed countries such as the UK and Germany. However, LAMEA possessed the highest growth rate in 2016 due presence of large patient pool and increase in awareness towards the advantages of dialysis.
The major companies profiled in the report include Fresenius Medical Care AG & Co. KGaA, Nikkiso Co. Ltd, B. Braun Melsungen AG, Nipro Medical Corporation, Toray Medical Co., Ltd., Baxter International Inc., Asahi Kasei Medical Co., Ltd., NxStage Medical, Inc., Outset Medical, Inc., and Allmed Medical Corporation.
Key Findings of the Hemodialysis Catheters Market:
• In 2016, cuffed tunneled catheters generated the highest revenue, and is projected to grow at a CAGR of 4.7% during the forecast period.
• Home dialysis is expected to grow at a CAGR of 5.3%.
• Asia-Pacific is anticipated to grow at the highest rate of 5.1% during the analysis period, followed by LAMEA.
• China and India are the major market shareholders in Asia-Pacific.
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