Dublin, April 19, 2022 (GLOBE NEWSWIRE) -- The "Continuous Renal Replacement Therapy Market Size, Share & Trends Analysis Report by Product (System, Consumables), by Modality (Slow Continuous Ultra-Filtration, Continuous Veno-Venous Hemofiltration, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global continuous renal replacement therapy market size is anticipated to reach USD 2.6 billion by 2030. The market is expected to expand at a CAGR of 8.5% from 2022 to 2030.
The primary driving factors for market growth are increasing prevalence of congestive heart failure and acute renal failure. The COVID-19 is expected to have a positive impact on market due to increasing prevalence of acute kidney injury.
According to a WHO, acute kidney injury, a potentially life-threatening condition in which the kidneys cease working and uremic and fluid toxins build up in the body, is one of the many COVID-19 side effects. As a result, as the COVID-19 outbreak expands, demand for CRRT will continue to climb.
Over the forecast period, technological advancements are expected to be a crucial driver in the growth of the market. For example, in August 2020, Baxter International Inc., a global leader in acute care, announced that Regiocit, the company's replacement solution containing citrate for extracorporeal circuit regional citrate anticoagulation, has acquired an Emergency Use Authorization (EUA) from the U.S Food and Drug Administration (FDA).
Regiocit is exclusively approved for use as a replacement solution in adult patients receiving Continuous Renal Replacement Therapy (CRRT) and who require regional citrate anticoagulation during the COVID-19 pandemic, according to the EUA.
Continuous Renal Replacement Therapy Market Report Highlights
- By product, the consumables segment held the largest revenue share of 60.6% in 2021. Although these products are low-priced, it is used repeatedly purchased; hence the market for consumables is the largest as compared to other segments
- Based on the modality, the Continuous Veno-venous Hemofiltration (CVVH) segment held the largest revenue share of 31.5% in 2021. Fluid overload situations, which are common in acute kidney injury patients in critical care units, are expected to increase, boosting the CVVH market's growth
- Asia Pacific was the fastest growing market for continuous renal replacement therapy with a growth rate of 9.6%. Various factors are responsible for the region growth such as technological advancement, growing healthcare infrastructure development as well as and presence of such a huge patient base in this region
Market Dynamics
Market Driver Analysis
- Increasing Incidence of Acute Kidney Injury and Chronic Kidney Diseases Globally
- Growing Government Initiatives and Recommendations for Efficient Kidney Disease Management
- Rapid Advancements and Launch of New Technologies
Market Restraints Analysis
- High Cost Of CRRT Procedures
Continuous Renal Replacement Therapy: Market Analysis Tools
- Industry Analysis-Porter's
- SWOT Analysis, By Pest
Impact of COVID-19 on Market
Competitive Analysis
- B. Braun Melsungen AG
- Baxter International, Inc.
- Fresenius Medical Care AG & Co. Kga
- Asahi Kasei Corporation
- Nipro Corporation
- Toray Medical Co. Ltd.
- Nxstage Medical, Inc
- Medtronic plc
For more information about this report visit https://www.researchandmarkets.com/r/dq8ao1
Attachment
