Artificial kidneys are a cutting-edge technology that is being developed to replace natural kidneys and reduce or eliminate the need for dialysis. Those whose kidneys are seriously damaged and not functioning would benefit greatly from artificial kidneys since they would provide constant blood filtration. Patients with chronic renal disease would have a better quality of life with the help of an artificial kidney. There is a critical shortage of kidney donors, thus creating an artificial kidney would be a game-changing innovation in the medical technology business. Artificial kidneys are a cutting-edge technology that is being developed to replace natural kidneys and reduce or eliminate the need for dialysis. Patients whose kidneys are badly damaged and no longer functional could get continuous blood filtration from an artificial kidney. An artificial kidney would improve patients’ lives by decreasing their risk of developing chronic kidney disease. Creating an artificial kidney would be a game-changing achievement in the field of medical technology, and it might help alleviate the chronic scarcity of kidney donors.
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Artificial Kidney Market Drivers
Growth in the worldwide artificial kidney market is anticipated to be driven in large part by the high volume of R&D spending on artificial kidneys throughout the projected period.
The Kidney Project, a joint effort between UCSF, Vanderbilt, and the National Institute of Biomedical Imaging and Bioengineering (NIBIB), is trying to build an artificial kidney that may be implanted into a patient. The microchip filters and living kidney cells in the revolutionary artificial kidney under development are driven by the patient’s own heart.
Preclinical trials for the artificial kidney being created are presently underway, and FDA approval is anticipated for late 2019 or early 2020.
In addition, the Organ Procurement and Transplantation Network reported in 2018 that there are around 95,235 people in the United States waiting for a kidney transplant. As a result, thousands of people on the kidney transplant waiting list may have their medical needs met and their lives saved if the Food and Drug Administration (FDA) approved such a groundbreaking artificial kidney in the near future.
Artificial Kidney Market Regional Analysis
The artificial kidney industry in North America is poised to expand rapidly in the coming years as a result of the region’s abundance of research and development facilities dedicated to the field. In 2014, for instance, the U.S. Food and Drug Administration (FDA) gave Blood Purification Technologies Inc. permission to begin human clinical trials of its Wearable Artificial Kidney (WAK).
Researches undertaken by various organizations towards the creation of ground-breaking artificial kidney suggest that Europe would also be a lucrative place for growth of the artificial kidney market. Clinical trials for an artificial kidney to treat severe acute renal injury were launched in January 2018 by Assistance Publique – Hôpitaux de Paris.
Artificial Kidney Market Restraint
The artificial kidney represents cutting-edge research and development; hence, the cost of such revolutionary equipment is likely to be extremely high after it has been approved. This factor is predicted to slow the expansion of the global artificial kidney market throughout the forecast time frame.
Artificial Kidney Market Key Players
Leaders in the worldwide artificial kidney market include Blood Purification Technologies Inc. and Others.
Artificial Kidney Market Taxonomy
The market for artificial kidney worldwide is divided based on the device type, end user, and region
By Device Type-
- Wearable Artificial Kidney
- Implantable Artificial Kidney
By End Users-
- Ambulatory Surgical Centers
- Speciality Clinics
- North America
- Asia Pacific
- Latin America
- Middle East
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Artificial Kidney Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Artificial Kidney Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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