Sellbyville, Delaware, Nov. 19, 2018 (GLOBE NEWSWIRE) --
Global Continuous Renal Replacement Therapy Market will surpass USD 1.3 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing R&D efforts by market leaders such as Asahi Kasei, Baxter, Fresenius Kabi and B.Braun have improved medical systems used in the continuous renal replacement therapy. For instance, Diapact CRRT system developed by B.Braun is integrated with advanced technology that enables efficient treatment of acute kidney diseases and injuries. The acute blood filtration process is carried out accurately without any obstructions ensuring faster recovery of patients. Improvements in the CRRT systems will ultimately favor continuous renal replacement therapy market growth. However, high costs of the CRRT systems may hamper the business growth in future.
Rising prevalence of chronic kidney disorders will augment the continuous renal replacement therapy market growth during the forecast timeframe. According to National Kidney Foundation, around 10% of population suffers from chronic renal diseases and over millions of them die every year globally. Favorable regulations by regulatory bodies such as FDA enforce certain laws on manufacturers that ensures availability of superior quality CRRT devices in intensive care units thereby augmenting CRRT industry growth in foreseeable future.
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Continuous venovenous hemofiltration (CVVH) segment was valued at USD 171.9 million in 2017 and is anticipated to witness high growth during the forecast timeframe. High segmental growth can be associated with increasing demand for continuous venovenous hemofiltration. CVVH program is a short-term treatment used in patients suffering from acute or chronic renal failure. According to National Chronic Kidney Disease Fact Sheet, in 2017, there were around 30 million people are estimated to have chronic kidney disorder. This is expected to escalate the demand for continuous venovenous hemofiltration therapies thereby augmenting the segmental growth over upcoming years.
Consumables segment accounted for 60.7% in 2017 and is expected to grow considerably over forthcoming years. Consumables include catheters and other access products that require replacement at regular intervals. Contaminated consumables such as reused AV fistula needles may pose a great threat to life. High replacement rate of consumables will ensure high segmental growth during the forecast timeframe.
Browse key industry insights spread across 160 pages with 98 market data tables & 8 figures & charts from the report, “Continuous Renal Replacement Therapy Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/continuous-renal-replacement-therapy-market
Non-renal segment will have 6.6% CAGR during the forecast period owing to the increasing preference for non-renal therapies that enables efficient treatment of patients experiencing cardiac problems. This therapy is preferred to clear ingested toxins and to maintain proper electrolyte levels by using renal drugs available. High prevalence of heart disorders amongst geriatric population will augment the segmental growth over the forecast timeframe.
U.S. continuous renal replacement therapy market held 91.7% momentous revenue share of the total North America CRRT market. High revenue contribution can be attributed to growing geriatric population suffering from acute renal failure. Also, increasing demand for CRRT by adult population has augmented industry growth. According to National Kidney Foundation, the chronic renal diseases treatment expenditure is expected to rise above USD 48 billion annually that should propel the business growth in forthcoming years.
Germany CRRT market will experience 5.9% CAGR and is forecasted to grow significantly during the upcoming years. Eminent industry players based in Germany such as B.Braun are investing in the development of new and innovative CRRT systems. For instance, B.Braun has developed Omni, a new generation CRRT machine with improved users interface, reduced downtime and helped in optimizing renal dose delivery. Development of such technologically advanced medical systems will certainly augment the industry growth.
Prominent industry players operational in the CRRT market include Asahi Kasei Corporation, B.Braun Melsungen, Baxter International, Fresenius Medical Care, Infomed, Medica, Medical Components, Medites, Medtronic, Nikkiso, Nxtstage, Toray. These industry players implement certain strategic initiatives such as mergers and acquisitions that help them in maintaining their market position. For instance, Fresenius Medical Care undertakes certain decision such as innovations in medical devices used in the acute therapy. It recently developed multiFiltratePRO system that is used in efficient treatment of acute kidney diseases. Development of such new products will ensure sustainable profits for the company.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.