Global Renal Medical Devices and Services Market Size

Renal Medical Devices & Services Market Analysis

The Renal Medical Devices and Services Market is projected to register a CAGR of 6.4% during the forecast period.

The COVID-19 pandemic had affected several departments of the healthcare sector. During the COVID-19 pandemic, various elective surgeries which were termed non-urgent were postponed. This led to a reduction in the healthcare services provided by the hospitals, excluding the COVID treatment. An article titled 'Effect of COVID-19 on Kidney Disease Incidence and Management' published in the journal Kidney 360 in January 2021 indicated that in the COVID-19 affected population requiring hospitalization, COVID-19-related acute kidney injury manifested, especially in people requiring intensive care unit (ICU) management. Also, owing to the highly contagious nature of the SARS-CoV-2 virus, people with end-stage kidney disease and kidney transplantation recipients were at increased risk for infection and associated morbidity, especially in light of the underlying immunocompromised state. Thus, the renal medical devices and services market was significantly impacted by the COVID-19 pandemic.

The major factors driving the growth of the renal medical devices and services include the rising prevalence of the kidney diseases, the growing geriatric population and the increasing incidences of daibetes and high blood pressure conditions.

Kidney disease affects a large amount of the global population and has increased in recent decades. It occurs when your kidneys become damaged and can't perform their function. Damage may be caused by diabetes, high blood pressure, and various other chronic (long-term) conditions. Kidney disease can lead to other health problems, including weak bones, nerve damage, and malnutrition. As per an article by the National Health Portal published in March 2021, there were about 195 million women in the world, who were affected by the kidney diseases as of the date of publication.

Moreover, the geriatric population is more prone to kidney disorders. As the geriatric population is growing, the prevalence of kidney disorders is also expected to increase. According to the report 'World Population Ageing 2020 Highlights' published by the Population division of the United Nations Department of Economic and Social Affairs, there were 727 million people over the age of 65 years in 2020. The report also projected that the number of people over 65 years will reach 1.5 billion by 2050.

As per the United Kingdom Office for National Statistics' National Population Projections report published in January 2022, around 1.7 million people over the age of 85 years were living in the United Kingdom in mid-2020, constituting about 2.5% of the total population. The report indicated that the numbers were projected to rise to 3.1 million by mid-2045. Moreover, the Indian Ministry of Statistics and Programme Implementation in its report 'Elderly in India 2021' published in July 2021 indicated that around 138 million people over the age of 60 years were living in India in 2021. This population is projected to increase to around 194 million by 2031. The geriatric population are more prone to the loss of bladder control. The onset of various geriatric diseases such as Alzheimers and Parkinson also add to the bladder control problem in the elderly population. The growing older population is expected to further increase the demand for innovative renal disease treatment procedures as aging increases the risk of kidney and bladder problems such as, bladder control issues, and, urinary retention, hence these factors are expected to accelerate the growth of renal medical devices and services market all around the world.

However, reimbursement issues have been dissuading many manufacturers from entering the market. Also, the lack of awareness regarding the presence of such renal disorders treatment in developing and under-developed countries is hindering the market growth.