growing utilization in high blood sugar patients have age-related issues. However, high initial setup
cost coupled with rising fluctuation in the raw material prices has enabled the market to witness
hindered growth over the next eight years.
The market is segmented by product into centre-use hemodialysis machines, home-use
hemodialysis machines, and others. This centre-use hemodialysis machine segment was accounted
for a major market share in 2015 and it is projected to witness similar trend by 2024 owing to
growing applications from independent dialysis centres and hospitals. On the other hand, home-use
hemodialysis machine is anticipated to report the fastest growth over the next eight years primarily
due to increasing demand for home hemodialysis and peritoneal dialysis.
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The hemodialysis machine market is highly competitive primarily to the presence of several
domestic and international suppliers. Though, the sector has the presence of various new players,
who face difficulty in competing with other major companies in terms of functionalities, features,
quality, and services. Over the forecast period, the growing new product development activities
coupled with increasing adoption of new technologies for achieving operational efficiency has
enabled the competition to become more aggressive. On a contrary, few major players through
continuous R&D endeavors coupled with growing expertise knowledge in the industry have enabled
them to witness competitive edge, thus propelling the overall growth of the sector over the next
eight years.
North America and Europe are anticipated to witness major market share over the forecast period
owing to the growing number of independent dialysis centres coupled with rising government
initiatives to develop better dialysis facilities. Asia Pacific is anticipated to account for fastest
growth over the forecast period primarily due to the increasing ESRD patient population base
coupled with growing awareness among end users regarding new developments in the dialysis
treatment modalities. India, China, and Japan are anticipated to witness the highest share in the
region majorly owing to the rising disposable income coupled with growing foreign investments.
The Middle East & Africa is projected to see significant growth by 2020 mainly owing to increasing
urbanization, industrialization, and globalization. The sector has huge potential in this region
primarily owing to rising per capita income and foreign investments.