24 Jan 2022
Posted in Medical Devices
Renal dialysis machines market in Australia to grow at 5.5% CAGR through 2030, forecasts GlobalData
The renal dialysis machine market in Australia is expected to grow at a compound annual growth rate of about 5.5% between 2021 and 2030, driven by an increase in number of dialysis centers, forecasts GlobalData, a leading data, and analytics company.
GlobalData’s latest report, ‘Renal Dialysis Machines(Nephrology and Urology Devices) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that the Fresenius SE & Co KGaA, Baxter International Inc and B. Braun Melsungen AG were the major players in Australia, accounting for about 70% of the market in 2021.
Uzma Takreem, Medical Devices Analyst at GlobalData, comments: “Factors such as increase in the number of cases with end-stage renal disease (ESRD), majorly in the older age group, frequent need for performing dialysis and launch of new devices are strengthening the renal dialysis machines market.”
Hemodialysis machines accounted for more than 80% of the Australia’s renal dialysis machines market in 2021. More number of operational hemodialysis centers, physician expertise on the procedure, reimbursement provision, and availability of variety of devices are the factors accounting to the growth of hemodialysis machines market.
Takreem concludes: “Though hemodialysis is a mainstream treatment for patients with ESRD, growing demand for home-based care and needleless procedures during the pandemic, increasing awareness and low cost are expected to further increase the demand for peritoneal dialysis devices. Furthermore, the use of the new concept of precision medicine in the field of nephrology is also expected to create huge opportunities in the near future as it offers the advantage of preserving the residual kidney function.”