Continuous Renal Replacement Therapy Market in terms of revenue was estimated to be worth $1.4 billion in 2023 and is poised to reach $2.1 billion by 2028, growing at a CAGR of 8.1% from 2023 to 2028 according to a new report by MarketsandMarkets™.
The rise in the global incidence of Acute kidney Injury (AKI) and increase in the demand for effective renal replacement therapy among the patients who are critically ill or in ICU and growing initiatives by the government to increase the awareness about CRRT therapy along with the increase in technologically advancement of the CRRT system are anticipated to fuel the CRRT market growth during the forecast period.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=246917088
"Growing demand for dialysate to support the market growth during the forecast period."
The significant increase in the demand for CRRT in the treatment of hemodynamically unstable patients attributes to the rising of the CRRT market Moreover, the development and commercialization of novel renal replacement solutions are also some of the factors that support the market growth. Furthermore, many companies are expanding their dialysate product portfolios. For instance For instance, in August 2020, NIPRO CORPORATION acquired shares in dialysate MTN Neubrandenburg GmbH, which is involved in the manufacturing and sales of dialysates. Moreover, there has been an increase in the global incidence of acute kidney injury (AKI), which has driven the demand for dialysates and prompted manufacturers to ramp up dialysate production.
"Asia Pacific likely to emerge as the fastest-growing CRRT market, globally"
The Coninuous renal replacement therapy market is segmented into five major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa.Asia Pacific attributes to the highest growth rate amongst the other regions, The emerging Asian countries, such as China, India, and Japan, are offering significant growth opportunities for market players. The expansion of healthcare infrastructure and increase in disposable incomes, increase incidences of acute kidney disease (AKI), diabetes, hypertension are factors which are likely to support the growth of CRRT market in the region.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=246917088
Continuous Renal Replacement Therapy Market Dynamics:
Drivers:
- Increase in the prevalence of incidence of acute kidney injury (AKI)
Restraints:
- High procedural cost of CRRT
Opportunities:
- Emerging markets in APAC and RoW
Challenge:
- Shortage of trained ICU professionals in developing nations
Key Market Players of Antibody Drug Conjugates Industry:
The key players in the continuous renal replacement therapy market Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US) and B. Braun Melsungen AG (Germany). These companies adopted strategies such as partnerships, acquisitions, and investments to strengthen their presence in the market
Recent Developments:
- In 2020, Medtronic plc announced the launch of the Carpediem system, the first and only pediatric and neonatal acute dialysis system designed to treat patients weighing 2.5–10 kg (5.5–22 pounds) requiring renal replacement therapy.
- In 2019, Baxter International Inc. introduced the PrisMax CRRT system in the US
- In 2019, Fresenius Medical Care AG & CO. KGaA announced the launch of the 4008A dialysis machine in India.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=246917088
Continuous Renal Replacement Therapy Market Advantages:
- Precise and Gradual Treatment: CRRT allows for precise control over fluid and electrolyte balance, minimizing the risk of sudden shifts, which is particularly crucial for critically ill patients.
- Continuous Therapy: CRRT provides continuous and steady renal support, reducing hemodynamic instability and enhancing patient tolerability compared to intermittent treatments.
- Versatility: It is adaptable for various patient populations, including neonates, children, and adults, making it suitable for a wide range of clinical scenarios.
- Management of Complex Conditions: CRRT is effective in managing conditions like sepsis, where fluid overload and removal of inflammatory mediators are critical aspects of treatment.
- Bedside Application: It can be performed at the patient's bedside, reducing the need for patient transportation, minimizing complications, and improving overall safety.
- Improved Patient Outcomes: CRRT contributes to better outcomes in patients with acute kidney injury, renal dysfunction, and critical illnesses by maintaining stable conditions.
- Reduced Healthcare Burden: By preventing the need for more invasive and intermittent treatments, CRRT can reduce the overall burden on healthcare resources and staff.
- Longer Treatment Durations: CRRT can be administered over extended periods, allowing for more comprehensive renal support in cases requiring extended treatment.
- Better Tolerance: Patients tend to tolerate CRRT better due to its gradual and continuous nature, minimizing fluctuations in vital parameters.
- Customizable Therapies: CRRT therapies can be tailored to individual patient needs, optimizing treatment effectiveness while minimizing risks.
These advantages collectively demonstrate the importance of CRRT in modern healthcare, particularly in critical care and renal management.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/continuous-renal-replacement-therapy-market-246917088.html
