Singapore Hemodialysis Equipment Market Report 2023 to 2030

Singapore Hemodialysis Equipment Market Analysis

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The Singapore Hemodialysis Equipment Market was valued at $16.9 Mn in 2023 and is projected to grow at a CAGR of 8.2% from 2023 to 2023, to $29.4 Mn by 2030. The key drivers of this industry are increasing incidence of chronic kidney disease (CKD) and end-stage renal disease (ESRD), availability of advanced dialysis machines and consumables, government initiatives to improve dialysis accessibility, growing adoption of home haemodialysis, expansion of dialysis service providers which has contributed to market growth. The industry is primarily dominated by players such as Biosensors International, Everlife, Baxter, B. Braun SE, Fresenius Medical Care AG, Medtronic among others.

ID: IN10SGMD018 CATEGORY: Medical Devices GEOGRAPHY: Singapore AUTHOR: Mahima Reddy

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Singapore Hemodialysis Equipment Market Executive Summary

The Singapore Hemodialysis Equipment Market is at around $16.9 Mn in 2023 and is projected to reach $29.4 Mn in 2030, exhibiting a CAGR of 8.2% during the forecast period 2023-2030.

Hemodialysis is a life-saving medical procedure for patients with kidney failure. It serves as an artificial replacement for lost kidney function, removing waste products, excess fluids, and maintaining proper electrolyte balance in the body.

The process involves accessing the patient's bloodstream through a surgically created vascular access, typically in the arm. Blood is then pumped through a dialyzer, often called an artificial kidney. This device contains thousands of hollow fibers that filter the blood, removing waste products and excess fluid. The cleaned blood is then returned to the body. Hemodialysis sessions usually last 3-5 hours and are typically performed three times a week. The frequency and duration may vary based on individual patient needs. While most patients receive treatment at specialized dialysis centers, home hemodialysis is also an option for some. Side effects can include low blood pressure, muscle cramps, and fatigue. Dietary restrictions and medication management are often necessary alongside dialysis treatment. While hemodialysis is not a cure for kidney failure, it effectively manages the condition, allowing many patients to lead active lives. It's often used as a long-term treatment or as a bridge to kidney transplantation. Ongoing research aims to improve dialysis technology and patient outcomes.

Singapore is among the ten countries with the highest incidences of treated end-stage kidney failure. An average of 5.5 patients are diagnosed daily with End-Stage Renal Disease (ESRD) in Singapore. The hemodialysis market is driven by significant factors like aging population, increase prevalence rate of chronic diseases, increasing incidence of chronic kidney disease (CKD) and end-stage renal disease (ESRD), availability of advanced dialysis machines and consumables, government initiatives to improve dialysis accessibility, growing adoption of home haemodialysis, expansion of dialysis service providers which has contributed to market growth.

Some of the major players operating in the Singapore Hemodialysis Equipment Market are Biosensors International, Everlife, Evonik Industries, Baxter, B. Braun SE, Fresenius Medical Care AG, Medtronic among others.

Singapore Hemodialysis Equipment Market Report 2023 to 2030

Market Dynamics

Market Drivers

Rising Prevalence of Chronic Kidney Disease and ESRD: The prevalence of chronic kidney disease in Singapore is estimated to be around 10-12% of the population. The number of patients on dialysis in Singapore has increased from around 4,000 in 2000 to over 9,000 in 2021, reaching over 1,500 patients per 1 Mn population, which is ultimately driving the market of hemodialysis in Singapore.

High Incidence of Diabetes: Singapore has one of the highest rates of diabetes in the developed world, with a prevalence of around 14.9% of the adult population as of 2021. Diabetes is a major risk factor for kidney disease, and the high prevalence of diabetes is a key driver of the growing dialysis market in Singapore.

Aging Population: Singapore has an aging population, with the proportion of residents aged 65 and above expected to increase from 15.2% in 2020 to 23.8% by 2030. The growing elderly population is more susceptible to chronic kidney disease, contributing to the demand for dialysis services.

Market Restraints

Risks and Side Effects of Dialysis: Dialysis procedures carry risks and side effects, such as low blood pressure, muscle cramps, and infections, which may limit the market growth.

Product Recalls: Product recalls in the dialysis industry, such as issues with dialysis machines or consumables, can negatively impact the market.

High Treatment Costs: The high costs of dialysis treatment, even with government subsidies, can be a barrier for some patients, limiting the market growth.

Regulatory Landscape and Reimbursement Scenario

The Health Sciences Authority (HSA), specifically its Medical Device Branch, is the regulatory body overseeing medical devices in Singapore. Operating under the Health Products Act and Health Products (Medical Devices) Regulations, the HSA employs a risk-based classification system for medical devices, ranging from Class A (lowest risk) to Class D (highest risk). Manufacturers must register their devices with the HSA and maintain a quality management system before marketing in Singapore. The HSA also conducts post-market surveillance to ensure ongoing safety and performance. As for reimbursement, Singapore uses a hybrid system.

The government provides subsidies through the MediShield Life universal health insurance scheme and the Community Health Assist Scheme (CHAS). Additionally, Singaporeans are required to contribute to MediSave, a national medical savings scheme. For medical devices, reimbursement often depends on whether the device is used in a procedure covered by these schemes. Private insurance also plays a role in reimbursement. The Agency for Care Effectiveness (ACE) conducts health technology assessments, which can influence reimbursement decisions. However, unlike pharmaceuticals, there isn't a centralized list for reimbursable medical devices, and decisions often occur at the hospital or institutional level.

Competitive Landscape

Key Players

Here are some of the major key players in the Singapore Hemodialysis Equipment Market:

Biosensors International
Everlife
Evonik Industries
UG Healthcare
Zenyum
Medtronic
Fresenius Medical Care
Baxter International
B. Braun
Diaverum

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Singapore Hemodialysis Equipment Market Segmentation

By Hemodialysis Type

Conventional Hemodialysis
Short Daily Hemodialysis
Nocturnal Hemodialysis

By Product & Services

Equipment
Consumables
Dialysis Drugs
Services

By End Use

Home-based
Hospital-based

Methodology for Database Creation

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