IT SOLUTION FOR DIALYSIS MARKET ANALYSIS

An individual is put on a dialysis treatment when their kidneys stops working. In hemodialysis, a machine filters wastes, salts and fluid from the blood. Hemodialysis is one of the advanced ways to treat kidney failure. While receiving dialysis treatment the person may face certain side-effects such as low blood pressure, muscle cramps, itching, bone diseases, depression etc. Major factors assisting the growth of the IT solution for dialysis market during the forecast period are increasing dialysis procedures, investment in research, and strategic expansions by players operating in IT solution for dialysis market to strengthen their geographical footprint.

IT Solution for Dialysis Market – Impact of Coronavirus (COVID-19) Pandemic

Lockdown in various countries has halted the transportation facilities across the countries. Due to this, the demand in dialysis has increased. According to 2020, the latest Intensive Care US National Audit and Research Centre report on COVID-19, 28.8% of patients in critical care who were receiving advanced respiratory support, also required renal support. Supply chain and manufacturing activities in several economies including India, Italy, Spain, U.K., and the U.S. have been disrupted due to the lockdowns implemented across various regions in the past few months. Countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of products. NHS England is working with the renal community and has put a high priority on resolving this treatment for critical patients, including setting up of emergency renal operational delivery networks with leads working closely with critical care networks. NHS England is working with equipment manufacturers, however, there is a significant risk of a mismatch between supply and demand. As a result, IT solution for dialysis market has been hampered during the pandemic.

The global IT solution for dialysis market is estimated to be valued at US$ 3,547.8 million in 2020 and is expected to exhibit a CAGR of 6.8% during the forecast period (2020-2027).

Figure 1.: Global IT Solution for Dialysis Market Share (%) Analysis, By Application, 2020-2027

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Increasing prevalence of chronic kidney disease and product launch are expected to drive growth of the global IT solution for dialysis market.

Major factors assisting the market growth during the forecast period include increase in the prevalence of chronic kidney disease (CKD) and end stage renal disease (ESRD) among the population. For instance, according to Centers for Disease Control and Prevention, in 2016, among all the patients suffering from End-Stage Renal Disease in the U.S., which is more than 726,000 individuals (2 in every 1,000 people) were on dialysis.

Thus, this increase in ESRD and CKD patient count is leading to rising number of dialysis procedures, which is providing a significant opportunity to healthcare IT solution providers to develop and launch innovative and technologically advanced information technology solutions/ software for dialysis data management.

Global IT Solution for Dialysis Market – Restraints

Financial issues, including adoption and implementation costs, ongoing maintenance costs, loss of revenue associated with temporary loss of productivity, and decline in revenue. EHR adoption and implementation costs include purchasing and installing hardware and software, converting paper charts to electronic ones, and training end users. Thus, the high cost of IT solutions for dialysis is expected to hinder the growth of global IT solution for dialysis market growth. For instance, according to the data published in NCBI, it is estimated that the initial cost of software training and installation is US$ 22,038 and the hardware costs around US$ 13,000 per full-time-equivalent (FTE).

Global IT Solution for Dialysis Market – Regional Analysis

On the basis of region, the global IT solution for dialysis market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Market players in North America are more focused on adoption of inorganic growth strategies such as collaborations and partnerships to strengthen their expertise in development of information technology platforms used in nephrology. For instance, in March 2017, Acumen Physician Solutions, a subsidiary of Fresenius Medical Care North America collaborated with Epic Systems Corporation to develop Acumen 2.0., the new EHR and practice management software for nephrology.

Moreover, the Asia Pacific IT solution for dialysis market is expected to witness significant growth due to presence of major key players in the region during the forecast period. For instance, Renalyx Health Systems Private Limited, a company based in Bengaluru, India, offers various IT solutions for dialysis such as Point of Care - Detecting CKD, and Renal Information Management System. Renalyx-Care uses a cloud-based Nephrology Information System to maintain patient records.

Figure 2.:Global IT Solution for Dialysis Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

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Global IT Solution for Dialysis Market - Competitive Landscape

Key players operating in the global IT solution for dialysis market are CitiusTech Inc., B.Braun Melsungen AG, QuantumS ys Technologies, Fresenius Medical Care AG & Co. KgaA, Constellation Kidney Group, Renalyx, Sagekey Software Inc., Aithent Inc., Gaia Software, LLC, CureMD Healthcare, Renesan Software, Document Storage Systems, Inc., Visonex, iSalus Healthcare, and M Dialysis.