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. Click To read More On Artificial Kidney Market
Artificial Kidney Market Drivers
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.
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 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 Market Key Players
Key players operating in global artificial kidney market include: Blood Purification Technologies Inc. and Others