Rapidly Increasing Demand For Hemodialysis Catheters in Healthcare Industry

Increase in prevalence of the number of kidney diseases is expected to result in the 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.

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 according to the latest published report by Allied Market Research.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 the patient with the help of catheter & external tubing and facilitates efficient removal of wastes such as urea and extra fluid from the blood. The hemodialysis catheter is implanted into the patient's vein to provide vascular access during dialysis process for efficient transfer of blood from the patient to the dialysis machine. The catheter consists of tubes, hub, extension, clamps, and cuffs.

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 the large patient pool and increase in awareness towards the advantages of dialysis.

Geographical Review:

By geography, the global hemodialysis catheters market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific held the largest market share in 2016, followed by Europe. On the other hand, LAMEA is expected to grow at the highest CAGR during the study period. The major factors that drive the growth of this market are the increase in the incidence of end-stage renal diseases and rise in demand for efficient dialysis products. Moreover, the surge in awareness towards renal diseases and the availability of their treatments in the developing regions fuel the demand for hemodialysis catheters.

Senior Research Analyst at Allied Research. Master of Business Administration (Mba) focused on Business Statistics Management, General from Symbiosis Schools of Management, India.