Nanotechnology: A New Advancement That Boosted the Dialysis Market
Dialysis machines are artificial kidneys for those patients who have partial or permanent renal failure. They mix and monitor dialysate, the fluid that removes the waste elements from blood. Moreover, it maintains electrolytes and minerals to their proper level, and monitors blood flow in the body. The dialysis market has grown in the recent years owing to the increasing number of end-stage renal disease (ESRD) patients, technological advancements in healthcare, and increased funding for improved dialysis products.
Studies prove that more than million people around the world are, unfortunately, the victims of kidney failure, which demanded new, effective, and technologically advanced dialysis machines. Physicians at the Kidney Research Institute of the University of Washington have found an unconventional way to improve hemodialysis treatments by developing a wearable artificial kidney. Typically, a patient goes to dialysis center three times a week for a four-hour treatment. This wearable artificial kidney is battery-powered and weighs around 10 pounds. It provides around-the-clock dialysis. An early-stage trial of the device showed a successful 24-hour dialysis of five out of seven patients. Although the two patients had to stop their treatment due to a technical failure in the device. However, the remaining five were able to walk in the hospital halls while their dialysis devices were continuously cleaning their blood for unwanted elements.
There have been numerous trials to improve the treatments of dialysis. In 2016, researchers of Vanderbilt University disclosed their project on microchip filters, which could remove unwanted waste products from blood. Each nanochip could be tailored according to a patient’s specific needs and medical condition. The electronic device was designed to operate with mere 15 microchips, which use live kidney cells to mimic the natural filtration functions of kidney. The use of nanotechnology in dialysis machines and pumps reduced their bulky size. Moreover, it fulfilled the pressure requirements for filtration. However, the main challenge to create such innovative device is maintaining the seamless interaction between blood and the device.
The University of Southern California has recently published its research on stem cells, which can hasten new remedies for renal diseases. The research studied the growth of kidneys in mother’s womb, and the similarities between human and mouse kidneys. The study proved that an average waiting time for a kidney transplant is more than three years. Thus, patients have to put their life on hold till a donor becomes available, and they need at least three dialysis a week to survive. The data analyzed human and animal stem cell functions and created a knowledge-base that can help produce mini-kidneys to perform renal functions.
The increase in the number of ESRD patients has boosted the growth of dialysis market, however, there are several factors that hinder the growth of the market. The unawareness among the community about dialysis and self-care therapies is the major obstacle of dialysis market growth. Self-care therapies are often underutilized by patients due to numerous misconceptions regarding them. By educating patients about chronic kidney diseases, both patients and doctors can make an informed decision whether the patient is suitable for self-help dialysis or not. An early start of dialysis can increase the life-expectancy of a patient and surge the number of individuals who experience the advantages of self-care dialysis treatment. Furthermore, single-specialty dialysis centers are mushrooming all over the world, which increased the speed and lowered the cost of the treatment. Furthermore, the emergence of telemedicine era has been beneficial to the growth of dialysis market. Telemedicine has allowed nephrologists and nurses to interact with hemodialysis and peritoneal patients. Telemedicine has provided a great deal of comfort to the renal patients to know the availability of a doctor in dialysis center.
In a recent report on dialysis market, Allied Market Research analyzed a variety of market trends, and outlined that the market was valued at $86,621 million in 2016, and is expected to reach $118,512 million by 2023, growing at a CAGR of 4.5% from 2017 to 2023. The report offers Porter’s five forces analysis, key segments, regions, drivers, restrains, and opportunities in the dialysis market. Moreover, it analyses key market players and the growth of the market in the regions such as North America, Europe, Asia-Pacific, and LAMEA. The report is beneficial for market players, business experts, an entry-level organization to understand the market trends and strategies to boost revenue.
Chief editor of review team at FinancesOnline
Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.
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