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Artificial Kidney Market Segmentation And By Key Players Blood Purification Technologies
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Frequent research and development activities for the development of artificial kidney is expected to be a major driver fueling global artificial kidney market growth over the forecast period.
For instance, currently the University of California San Francisco (UCSF), the University of Vanderbilt, and the National Institute of Biomedical Imaging and Bioengineering (NIBIB) in collaboration are working to develop implantable artificial kidney under project named the Kidney Project. The novel artificial kidney under development uses microchip filters and living kidney cells powered by a patient’s own heart.
The artificial kidney under development is currently under preclinical trials and is expected to get the U.S. Food and Drug Administration approval in late 2019 or early 2020.
Furthermore, according to the data published by Organ Procurement & Transplantation Network in 2018, around 95,235 patients in the U.S. are on waiting list for kidney transplant. Hence, approval of such breakthrough artificial kidney by the U.S. Food and Drug Administration in near future, could fulfill the unmet medical needs and save life of thousands of patients currently on the kidney transplant list.
Artificial Kidney Market Regional Analysis
North America artificial kidney market is expected to witness a significant growth in global artificial kidney market, owing to robust research and development activities by research centers in the region for development artificial kidney. For instance, in 2014, Blood Purification Technologies Inc. received the U.S. Food and Drug Administration approval to initiate human clinical trials of its Wearable Artificial Kidney (WAK).
Europe is also expected to be lucrative region for growth of artificial kidney market, owing to researches conducted by various organizations for the development of breakthrough artificial kidney. For instance, in January 2018, Assistance Publique - Hôpitaux de Paris initiated clinical trial for its artificial kidney used for treatment of severe acute kidney injury.
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Artificial Kidney Market Taxonomy:
The global artificial kidney market is segmented on the basis of device type, end user, and region
By Device Type-
Wearable Artificial Kidney,Implantable Artificial Kidney
By End Users-Hospitals,Speciality Clinics,Ambulatory Surgical Centers,Others
Artificial Kidney Market Restraint
Artificial kidney is a state of the art technology, hence after its approval the price of such breakthrough device is expected to be very high, which in turn is expected to restrain the global artificial kidney market growth over the forecast period.
Artificial kidney is a state of art technology currently under development, which can replicate the work of real kidney and potentially eliminate the need for dialysis. An artificial kidney would deliver continuous blood filtration to the patients whose kidney is severely damaged and not in working condition. Artificial kidney would reduce chronic kidney disease and increase the quality of life for patients. Developing an artificial kidney would be revolutionary advancement in medical device industry and could fulfill a chronic shortage of kidney donor required for transplant.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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