growth of the chronic hemodialysis catheter market is attributed to rise in prevalence of end-stage renal diseases (ESRD) across the globe.
PORTLAND, OR, UNITED STATES, October 19, 2020 /EINPresswire.com/ — The report on the global chronic hemodialysis catheter market highlights that the market is expected to reach $353.80 million by 2019, from $446.14 million in 2027, growing at a CAGR of 3.7% from 2020 to 2027. The report offers the current market size and forecasts along with Porter’s Five Forces analysis to help market players, stakeholders, startups, and investors to determine the current scenario and take further steps for the future. Drivers and opportunities for highest revenue generating and fastest growing segments would help in tapping into specific segment to achieve growth. Moreover, regional analysis would assist in expansion strategies for the market players and startups.
Drivers, restrains, and opportunities-
Rise in number of patients suffering from end stage renal disease (ESRD) across the globe drives the growth of the global chronic hemodialysis catheter market. Conversely, complications associated with hemodialysis catheters restrain the market growth. Moreover, growing rate of home hemodialysis is expected to usher a number of opportunities in the future.
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• The demand for chronic hemodialysis catheter is expected to increase during the Covid-19 pandemic. This is due to the growing demand for dialysis from patients suffering from chronic kidney disease (CKD) as these patients are at high risks of getting infected with coronavirus due to the compromised immunity.
• The chronic hemodialysis catheter manufacturers, however, have slowed down their production due to restrictions on mobility across the globe. Also, the disruption in supply chain has led to the shortage.
The step-tip segment to dominate the market-
Based on type of tip, the step-tip segment contributed to the largest share in 2019, accounting for nearly two-fifths of the global chronic hemodialysis catheter market, and is estimated to maintain its dominant position during the forecast period. This is due to technological advancements in hemodialysis catheter products, increase in prevalence of kidney diseases, rise in demand for step-tip hemodialysis catheters, surge in healthcare expenditure, increase in public awareness towards hemodialysis treatment, and rise in use of step-tip hemodialysis catheter in bloodstream infections in dialysis patients around the globe. However, the symmetric tip segment is estimated to portray the highest CAGR of 4.6% during the forecast period. This is owing to increase in utilization of symmetric hemodialysis catheters and rise in preference of symmetric-tip catheters.
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The polyurethane segment to lead the trail by 2027-
Based on material, the polyurethane segment accounted for the largest share in 2019, holding more than two-thirds of the global chronic hemodialysis catheter market, and is expected to maintain the largest share throughout the forecast period. In addition, it is expected to register the highest CAGR of 3.8% from 2020 to 2027. This is due to rise in adoption and growth in demand for polyurethane hemodialysis catheter, unavailability of kidney donors for transplantation, and rise in prevalence of end-stage renal diseases (ESRD). In addition, advantages demonstrated by polyurethane catheters such as good tensile strength and bigger inner diameter for maximum blood flow further boosts the segment growth.
Asia-Pacific, followed by North America, to rule the roost throughout the forecast period-
Based on region, Asia-Pacific, followed by North America, contributed the highest share, accounting for more than two-fifths of the global chronic hemodialysis catheter market in 2019, and will maintain its dominance throughout the forecast period. In addition, it is projected to grow at the fastest CAGR of 4.3% from 2020 to 2027. This is due to rise in demand for hemodialysis catheters, increase in number of end-stage renal disease (ESRD) cases, and surge in number of dialysis centers in this region. Furhtermore, huge untapped potential, rise in awareness of hemodialysis treatment, improvement in healthcare facilities, and surge in prevalence of chronic kidney disorders (CKD) fuels the market in this prevalence.
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The Major Key Players Are:
AngioDynamics, Inc., B. Braun Holding GmbH & Co. KG, Baxter International Inc., Becton, Dickinson and Company, Fresenius SE and Co. KGaA, Medical Components, Inc. Medtronic Plc., Nikkiso Co. Ltd., Nipro Medical Corporation, and Teleflex Incorporated.
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Source: EIN Presswire