DUBAI, United Arab Emirates, Dec. 11, 2022 (GLOBE NEWSWIRE) — The global Continuous Renal Replacement Therapy market was worth US$ 1 Bn in the year 2021 and is poised to reach US$ 1.68 Bn by the year 2027 at a CAGR of 7.7% between 2021 and 2027.
Continuous Renal Replacement Therapy is inclusive of removal of solute from the blood through hemofiltration or hemodialysis or both combined. The therapy lasts for close to 24 hours in an Intensive Care Unit (ICU), thereby rendering it different from the other types of traditional renal replacement therapies like IHD (Intermittent Hemodialysis), which comprises 4-6 hours (at times, even less).
The key participants are into adopting technological advancements regarding acute therapy. For instance – Baxter International Inc., in the year 2019, did clear its integrated TherMax blood warmer and PrisMax system for TPE (therapeutic plasma exchange) and continuous renal replacement therapy.
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Software integration is being looked upon as a novel tool for performing continuous renal replacement therapies effectively and also with utmost safety. Baxter has come up with PRISMAFLEX system to facilitate critical care. It is actually one of the flexible platforms offering personalized therapies as per the patients’ convenience. B. Braun also has its Diapact Continuous Renal Replacement Therapy (CRRT) that enables critical blood filtration.
At the same time, the fact that non-uniformity in regulations laid down by different governments could restrain the market can’t be ignored. For instance – The US FDA has prohibited employing CRRT to treat multiple symptoms related to kidney-, heart-, or liver-related diseases; whereas in Europe, CRRT is approved regarding liver support, cardiac failure, elevated Intercranial Pressure, intoxication, post-cardiac surgery, and rhabdomyolysis. Factors like these could restrain the market. Future Market Insights has scaled through these facts with insights in its latest market study entitled ‘Continuous Renal Replacement Therapy market’.
Key Takeaways from Continuous Renal Replacement Therapy market
- North America holds more than 30% of the market share due to exploding geriatric population that is at the risk of kidney disorders. This holds true with the fact that the US Department of Health and Human Services has stated that around 37 Mn people all across the US are suffering from CKD (Chronic Kidney Disease).
- Europe comes in second on the similar grounds.
- Coming to the Asia-Pacific, increase in occurrences of chronic kidney diseases, hypertension, and diabetes is likely to create creative disruption in the Continuous Renal Replacement Therapy market. It needs to be noted that the government of China, in March 2019, reduced VAT (Value Added Tax) to 13% (from 13.3%).
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Competitive Analysis
- DaVita, in February 2021, encompassed DaVita Care Connect (a secure healthcare platform) into the home dialysis program.
- Medtronic plc, in December 2020, did announce launching Carpediem Cardio-Renal Pediatric Dialysis Emergency Machine. The major objective was to have it utilized in the ones who require hemodialysis.
- Fresenius Medical Care, in April 2020, announced releasing an advisory stating that the ones needing renal replacement therapy in the pandemic era could be proffered with it even now on directions of physicians.
- Baxter International Inc., in April 2020, announced that it enhanced the supply of the critically required products all across.
- B. Braun Avitum AG, in March 2021, announced signing a co-marketing contract with its OMNIset Plus bloodline set version 3.0 or even higher with continuous purification of blood (OMNI) platform for using CytoSorb.
- Fresenius Medical Care, in June 2021, did inaugurate training center in South Korea, so as to extend support to education for the healthcare personnel in renal care, critical care, and treatment surgeries.
“With growing incidences of AKI (Acute Kidney Injury), sepsis, and likewise, the number of urgent care centers and hospitals are rising limitlessly. This factor is bound to take the Continuous Renal Replacement Therapy market by storm in the forecast period”, says an analyst from Future Market Insights.
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What does the Report Cover?
- The research study is based on product type (dialysis system and consumables (hemofilter sets, solution, and accessories), and by end-user (dialysis center and hospital).
- With sepsis and various other biomarkers being introduced for identifying multiorgan failure, that too, at initial stages, the global Continuous Renal Replacement Therapy market is bound to reach greater strides in the upcoming period.
Segmentation
The report offers a comprehensive taxonomy of the continuous renal replacement therapy market based on product type, end user and region. Continuous renal replacement therapy is sold in two types: systems and consumables. The consumables segment covers various types of hemofilter sets, solutions and other accessories.
Increased healthcare spending across emerging economies is expected to encourage the establishment of new multi-specialties in dialysis centres and hospitals, which is, in turn, expected to promote the demand for CRRT. The continuous renal replacement therapy market has been analysed across various regions, which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan and MEA.
Table of Content
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
3. Global Analysis Scenario
3.1. Market Volume Analysis
3.1.1. Product Type Volume Analysis By Region
3.2. Pricing Analysis
3.2.1. Pricing Assumptions
3.2.2. Price Projections Per Region
3.3. Market Size (US$ Mn) and Forecast
3.3.1. Market Size and Y-o-Y Growth
3.3.2. Absolute $ Opportunity
3.4. Market Overview
3.4.1. Value Chain
3.4.2. Market Scenario Forecast
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