(PharmaNewsWire.Com, April 12, 2024 ) The report "Continuous Renal Replacement Therapy Market by Product (Hemofilter, Bloodline, Machines, Dialysates), Modality (SCUF, CVVH, CVVHD, CVVHDF), Age (Adult, Pediatric), Enduser (Hospitals, Ambulatory), and Region - Global Forecast to 2028", size is 1.4 billion by 2023 and is projected to reach USD 2.1 billion by 2028, at a CAGR of 8.1 % during the forecast period.
The rise in the global incidence of Acute kidney Injury (AKI) and increase in the demand for effective renal replacement therapy among thepatients 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.
“ 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.
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
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