New York, United States , March 14, 2023 (GLOBE NEWSWIRE) -- The Global Continuous Renal Replacement Therapy Market Size to grow from USD 1.3 billion in 2021 to USD 2.7 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.91% during the forecast period. Increasing prevalence of diabetes in Europe and MEA should positively influence the continuous renal replacement therapy market growth in forthcoming years. growing hospital admissions rate, and constant product launches by prominent market players are few factors driving the demand for CRRT, thereby propelling market growth.
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A slow and painless method for purifying extracorporeal blood is continuous renal replacement therapy (CRRT). It is frequently performed over the course of 24 to several days while gently eliminating additional fluid and uremic toxins. This strategy is often supported by the physiological ideas of diffusion, ultrafiltration, convection, and adsorption. Only a few of the factors influencing the demand for CRRT and propelling market expansion include the prevalence of acute kidney injury (AKI), sepsis, the quick growth of hospitals and urgent care facilities, the number of hospital admissions, and the regular product launches by major market players. Moreover, the growth of the market would be significantly influenced by the clinical advantages of continuous renal replacement therapy (CRRT) over intermittent blood purification techniques. The market for continuous renal replacement therapy is expanding as a result of ageing and urbanisation trends. One of the key drivers is the rising incidence of chronic kidney disease, which increases the risk of diabetes, hypertension, cardiovascular disease, and the inflammatory kidney illness glomerulonephritis. The escalating number of CRRT-related problems will drastically slow down the market's rate of growth. A large-bore central venous catheter must be implanted and may need to be in place for an extended period of time in order to begin CRRT. According to reports, catheter insertion can cause bleeding, pneumothorax, hem thorax, vascular or visceral injury, and the development of an arteria-venous fistula. Long-term catheter use has been linked to venous thrombosis and stenosis. An unfavourable reimbursement scenario and a lack of awareness would further impede the market's development rate during the projection period.
Browse 60 market data Tables and 50 Figures spread through 200 Pages and in-depth TOC on "Global Continuous Renal Replacement Therapy Market Size, Share, and COVID-19 Impact Analysis, By Product (System, Consumables), by Modality (Slow Continuous Ultra-Filtration (SCUF)), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here:
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The Consumables segment is witnessing the significant growth over the forecast period.
On the basis of product, the global continuous renal replacement therapy market is segmented into system, consumables. Among these, the consumables segment is witnessing the significant growth over the forecast period. Hemofilters, line sets, fluid/dialysate, and accessories are examples of CRRT consumables. Hemofilters, often known as artificial kidneys, are made of a hollow-fiber membrane that regulates the amount of fluid and solute expelled. For people with severe renal disorders, companies like Baxter and Fresenius offer a variety of consumables across modalities. Although being inexpensive, these goods are more frequently purchased than those in other categories. As a result, it is projected that the consumables segment will expand.
For instance, Baxter International Inc. provided updates on its efforts to improve the urgently required global supply of dialysis in April 2020. Because of an unprecedented growth in COVID-19 patients requiring Continuous Renal Replacement Therapy, the demand for a variety of acute dialysis products is up to five times higher than previous levels (CRRT). Also, businesses are maximising consumables like fluids and planning capacity and supply to meet historically large spikes in demand for their acute dialysis products in Europe and the US, which is anticipated to fuel market growth in the near future. In order to address these concerns, businesses are still collaborating with partners and governments all around the world.
The Continuous Venovenous Hemofiltration (CVVH) dominates the market with the largest market share over the forecast period.
The market for continuous renal replacement therapy was dominated by the Continuous Venovenous Hemofiltration (CVVH) segment, which generated revenue. Due to an increase in fluid overload cases, which are frequently observed in patients with acute renal damage in critical care units, the CVVH sector is anticipated to advance over the projected period. The CVVHDF uses a highly efficient hemodiafilter to remove both fluid and solute, combining hemodialysis and hemofiltration procedures. The total removal and replenishment of fluid and solute from the blood is the most typical type of CRRT for AKI in many nations. CVVH was the primary CRRT therapy modality up until CVVHDF was released in 2008 and replaced it as the primary CRRT treatment method. The market for CVVHDF is currently anticipated to expand significantly during the projected period since it has a higher survival rate than other CRRT modalities.
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North America is dominating the market with the largest market share over the forecast period.
Among all other regions, North America is dominating the market with the largest market share over the forecast period. One important aspect that is expected to drive market progress in this sector is the growing geriatric population. When the rate of renal disorders detection in the area increases, alternative and enhanced procedures are being used more strictly. Also, it is believed that the increased prevalence of sedentary lifestyles and poor eating habits are the biggest contributors to the rise of several lifestyle-related diseases such kidney dysfunction, hypertension, and diabetes. For instance, it is expected that the chronic kidney disease (CKD) market would grow in North America in 2021, when the U.S. Department of Health and Human Services predicts that around 37.0 million Americans, or more than one in seven adults, may have CKD.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Toray Industries Inc., SWS Hemodialysis Care, Nipro Corporation, Ningbo Tianyi Medical Devices, NIKKISO Co. Ltd, Medtronic plc, Medites Pharma spol. s.r.o, Medical Components Inc., Medica S.p.A, Infomed SA, Cytosorbents, Chongqing Shanwaishan Science and Technology, B. Braun Melsungen Ag, Asahi Kasei Corporation, Anjue Medical Equipment Co. Ltd and among others.
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