Continuous Renal Replacement Therapy Market to Reach US$ 2.5 Bn by 2031, TMR Study
- Novel practice of adoption of sorbent-based techniques and incorporation of nanotechnology propels growth
- Expanding geriatric population susceptible to chronic kidney diseases, drives demand within the market
WILMINGTON, Del., Dec. 23, 2022 /PRNewswire/ -- The future market analysis of continuous renal replacement therapy projects that the industry will rise at a CAGR of 7.5 % from 2022 to 2031. The market was valued at US$ 1.2 Bn in 2021. The continuous renal replacement therapy market (CRRT) is a preferred therapeutic treatment procedure to manage the hemodynamic status of individuals suffering from acute kidney injury. Growth in the number of dialysis units and centers across the world is propelling demand within the market. Furthermore, growing prevalence of acute kidney injuries (AKI), as well as chronic kidney disease (CKD), is also driving market growth.
Continuous Renal Replacement Therapy Market – Key Findings of the Report
- Increasing Prevalence of Chronic Kidney Diseases or CKDs: Rising prevalence of chronic kidney diseases, as well as growth in the number of geriatric individuals who are more susceptible to these conditions, is driving market growth. As per a survey by the United Nations, the total number of geriatric individuals is expected to reach 1.5 Bn by the end of 2050. This growing number of individuals above 65 years, living with various chronic illnesses, including CKDs, is expected to propel market development over the next decade. Furthermore, in 2017, the global prevalence of CKD was calculated at 9.1 % of the total population, accounting for 700 Mn cases of the disease.
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Continuous Renal Replacement Therapy Market – Growth Drivers
- Rising pool of geriatric population suffering from chronic diseases boosts market development
- Increase in the number of dialysis centers across the world aids in the expansion of continuous renal replacement therapy market share
- Advancements in medical technologies and incorporation of artificial intelligence and nano technologies bolsters market expansion
Continuous Renal Replacement Therapy Market – Key Players
Some of the key players for continuous renal replacement therapy procedure are Nipro Corporation, Asahi Kasei Corporation, Medica SpA, Medtronic, Toray Industries, Inc., Baxter International, Inc., Fresenius Medical Care AG & Co. KGaA, B. Braun Melsungen AG, INFOMED SA, and Toray Medical Company Limited. Industry players are focused on adopting various inorganic and organic expansion strategies in order to enhance their industry share and attract more customers. For instance, players are adopting strategies like mergers and acquisitions, as well as research and development in order to create new revenue streams and enter new geographical regions.
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Continuous Renal Replacement Therapy Market: Regional Growth Assessment
Europe accounted for the largest continuous renal replacement market share and is expected to maintain its dominant position over the next decade. Some of the key drivers behind considerable expansion of the Europe market include rising incidence rate of acute kidney injuries and chronic kidney diseases, as well as the presence of favorable healthcare reimbursement policies in the region. Apart from this, other notable drivers for the Europe industry include presence of well-trenched R&D infrastructure, and established industry players, as well as availability of sizable government funding to facilitate continuous renal replacement therapy (CRRT) for patients that are critically ill.
Apart from Europe, Asia Pacific region is anticipated to register considerable growth in the global market in coming years. Some of the key drivers behind growth of this regional market include increase in investments to enhance healthcare infrastructure, as well as rising pool of geriatric population. Furthermore, growing investments aimed at developing, as well as acquiring next generation and technologically advanced CRRT products is also positively affecting demand dynamics in the Asia Pacific market.
Continuous Renal Replacement Therapy Market: Segmentation
Continuous Renal Replacement Therapy Market, by Mode
- Slow Continuous Ultrafiltration (SCUF)
- Continuous Venovenous Hemofiltration (CVVHF)
- Continuous Venovenous Hemodialysis (CVVHD)
- Continuous Venovenous Hemodiafiltration (CVVHDF)
Continuous Renal Replacement Therapy Market, by Product
- Dialysate & Replacement Fluids
- Disposables
- Systems
Continuous Renal Replacement Therapy Market, by Therapy
- Renal
- Non-renal
- Combination
Continuous Renal Replacement Therapy Market, by End-user
- Hospitals
- Clinics
- Others
Continuous Renal Replacement Therapy Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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