Newark, New Castle, USA, Feb. 16, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global continuous renal replacement therapy market is expected to clock US$ 2.26 billion by 2030 and to grow at a CAGR of 7.4% during the forecast period.
Continuous renal replacement therapy (CRRT) is a popular approach to regulating the hemodynamic condition of patients suffering from acute renal impairment. Patients with acute renal failure and comorbidities, such as circulatory system abnormalities, or multiple organ failures, such as edema and heart insufficiency, are treated using continuous renal replacement therapy devices. This exclusive information is published by Growth Plus Reports in its report titled “Continuous Renal Replacement Therapy Market – Global Outlook & Forecast 2022-2030”
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Market Drivers
The growing incidence of acute kidney injury (AKI) is a key driver of the global continuous renal replacement therapy market. The increasing incidence of AKI due to various reasons, such as diabetes, hypertension, and other chronic diseases, is expected to drive the continuous renal replacement therapy demand. The growing number of patients with critical illnesses such as sepsis, multiple organ failure, and burns is expected to grow the continuous renal replacement therapy market. The development of advanced CRRT devices with improved efficiency and safety features is expected to drive the growth of the market. The growing demand for home-based CRRT due to the increasing preference for non-invasive and cost-effective treatments is expected to drive the market growth. The increasing government focus on improving healthcare infrastructure, especially in developing countries, is expected to drive the growth of the CRRT market.
The global continuous renal replacement therapy market has been analyzed from four perspectives: Product, Modality, End-user, and Region.
Excerpts from ‘By Product Segmentation’
The product in the global continuous renal replacement therapy market has been bifurcated into:
- Systems
- Consumables
Because of their limited working lives, consumables have a high and consistent demand. Consumables are subdivided into hemofiltration, line sets, dialysate, and accessories. This industry is also fueled by a high demand for consumables, widespread availability, reasonably priced rates, and various applications. System segmentation is expected to show a noteworthy advancement within the forecast timeframe. Technical advancements such as CRRT's high-volume permeability and the inclusion of EMR connections are likely to drive market expansion. Furthermore, the rising availability of improved equipment for consistent performance in CRRT treatments causes the expansion of this category, resulting in increased market sales.
Excerpts from ‘By Region Segmentation’
Geographically, the global continuous renal replacement therapy market has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America holds the largest revenue share in the market. This region's expansion can be ascribed to a large elderly population and increased incidences of chronic renal disease. The high demand for CRRT, owing to the constant acceptance of innovative goods via the penetration of modern technologies and interfaces, stimulates the growth of this region's market. Furthermore, the existence of key market competitors and the population's high awareness of continuous renal replacement therapy fuel the growth of this regional market. Europe has the second biggest market share due to the quick adoption of technologically improved items and the presence of a well-developed healthcare system.
In terms of enhancing healthcare infrastructure and improving healthcare facilities, Asia Pacific is the fastest-growing economy in the worldwide continuous renal replacement therapy market. Additionally, the increased frequency of sepsis and renal failure is driving the expansion of this geographical market. Furthermore, increased government efforts and awareness campaigns support the growth of this regional industry. The market for continuous renal replacement therapy (CRRT) in Latin America is expected to grow in the coming years due to factors such as the increasing prevalence of chronic kidney disease, the growing number of critically ill patients, and the increasing demand for minimally invasive procedures. The region is also witnessing growth in the healthcare sector and increasing awareness about continuous renal replacement therapy. However, factors such as limited access to healthcare, low disposable income, and lack of reimbursement policies for continuous renal replacement therapy may pose challenges to the growth of the market in Latin America.
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Excerpts from ‘Competitive Landscape’
Some prominent players operating in the global continuous renal replacement therapy market are:
- Medtronic Plc.
- Nipro Corporation
- B. Braun Melsungen AG
- Baxter
- Fresenius Medical Care AG
- Asahi Kasei Medical Co., Ltd.
- Informed SA
- Toray Medical Co. Ltd.
- Nikkiso Co. Ltd.
- Anjue Medical Equipment Co. Ltd.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecast Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL CONTINUOUS RENAL REPLACEMENT MARKET- ANALYSIS & FORECAST, BY PRODUCT
- Systems
- Consumables
- Hemofiltration
- Line Sets
- Dialysate
- Accessories
TOC Continued..
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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