Global Continuous Renal Replacement Therapy (CRRT) Market to Reach $1.5 Billion by 2024
SAN FRANCISCO, Aug. 13, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Continuous Renal Replacement Therapy (CRRT) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Pool: 5928
Companies: 18 - Players covered include Asahi Kasei Medical Co., Ltd.; B. Braun Melsungen AG; Baxter International, Inc.; Bellco Societa Unipersonale a r.l; Chongqing Shanwaishan Science and Technology Co., Ltd.; Fresenius Medical Care AG & Co. KgaA; Infomed SA; Medica SpA; Medical Components, Inc.; Medites Pharma Spol. S.R.O.; Medtronic PLC; Nikkiso Co., Ltd.; Ningbo Tianyi Medical Appliance Co., Ltd; NxStage Medical, Inc.; Toray Medical Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Modality (Continuous Venovenous Hemofiltration, Continuous Venovenous Hemodialysis, Continuous Venovenous Hemodiafiltration, Slow Continuous Filtration); Product (Dialysates & Replacement Fluids, and Disposables & Systems)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global Continuous Renal Replacement Therapy (CRRT) Market to Reach $1.5 Billion by 2024
Continuous renal replacement therapy (CRRT) is the most widely used therapy in critically ill patients as these hypotensive patients require slow removal of waste and water without causing hypotension. As renal replacement therapy for pediatric patients with Acute Kidney Injury (AKI) becomes more commonplace, CRRT gains traction as a suitable treatment modality for patients of any size and who are hemodynamically unstable. The growing prevalence of cardiovascular diseases is the underlying factor for acute kidney injury cases, which is expected to drive the demand for CRRT. Amid the COVID-19 crisis, the global market for Continuous Renal Replacement Therapy (CRRT) is projected to reach US$1.5 Billion by 2024, registering a compounded annual growth rate (CAGR) of 6.1% over the analysis period. United States represents the largest regional market for Continuous Renal Replacement Therapy (CRRT), accounting for an estimated 26.4% share of the global total. The market is projected to reach US$405.5 Million by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 9.1% over the analysis period.
The global Continuous Renal Replacement Therapy (CRRT) market is expected to increase rapidly in future, driven by rising incidence of acute kidney injury (AKI). AKI constitutes for about 60% mortality rate. CRRT is the most widely used treatment for AKI. The technique is the most preferred modality for treating and managing hemodynamically unstable patients with AKI. Benefits of CRRT include hemodynamic tolerance due to solute removal and slower ultrafiltration. Rise in ageing population, increase in ICU-related admissions, and higher acceptance of CRRT procedures due to clinical advantages over the intermittent blood purification methods are the other key factors driving market growth. Europe and the United States dominate the Continuous Renal Replacement Therapy market, driven by the fast growing aging population and increasing acute kidney injury cases. Growth in Asia-Pacific region is attributable to increasing aging population, rising cases of acute kidney injury/diseases, increasing healthcare expenditure, technological advancements, and governments' push for investments in the healthcare sector.
The market for Continuous Venovenous Hemodiafiltration (CVVHDF) is forecast to grow at the fastest rate among all modalities over the analysis period. CVVHDF treatment modality leads to comprehensive removal and replacement of fluids and blood in the blood. The modality combines the principles of convection and diffusion, hemodialysis and hemofiltration, by using an efficient hemodiafilter. Given the modality's ability to eliminate solute as well as fluid, the CVVHDF segment is poised to grow at a strong pace in the coming years. CVVHDF is a modality that is generally preferred among hospitals equipped with well-established intensive care units. More
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