The Continuous Renal Replacement Therapy Market Revenue is predicted to grow from US$ 1,214.6 billion in 2023 to US$ 2,771.6 billion in 2033. During the forecast period, the market is expected to grow at an 8.6% CAGR. In contrast to standard renal replacement therapies such as IHD, which take 4-6 hours, this therapy involves the removal of solutes from the blood using hemofiltration, hemodialysis, or a combination of both for roughly 24 hours in an ICU.
Leaders in the sector are embracing technology improvements in acute therapy. Baxter International Inc. gained approval for their integrated TherMax blood warmer and PrisMax system for TPE and continuous renal replacement treatment in 2019. The use of software integration as a potential technique for efficient and safe continuous renal replacement therapy is being investigated. The PRISMAFLEX system from Baxter and the Diapact Continuous Renal Replacement Therapy (CRRT) system from B. Braun are both adaptable platforms that provide individualised therapy.
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Yet, the lack of uniform laws across nations may stifle industry expansion. For example, the US Food and Drug Administration forbids the use of CRRT to treat numerous symptoms associated with renal, heart, or liver illness. In Europe, CRRT is licenced for liver support, cardiac failure, increased ICP, intoxication, post-cardiac surgery, and rhabdomyolysis. Several considerations may hinder market growth. Future Market Insights’ recent industry analysis, “Continuous Renal Replacement Therapy market,” delves into these difficulties.
Key Takeaways from Continuous Renal Replacement Therapy market
- North America controls more than 30% of the market, owing to an ageing population at risk of kidney disease. This is supported by the fact that the US Department of Health and Human Services reports that approximately 37 million people in the United States suffer from CKD (Chronic Kidney Disease).
- On identical principles, Europe ranks second.
- In Asia-Pacific, the rise in chronic kidney disease, hypertension, and diabetes is expected to cause creative disruption in the Continuous Renal Replacement Therapy market. It should be mentioned that the Chinese government cut VAT (Value Added Tax) to 13% (from 13.3%) in March 2019.
- Consumables segment is expected to grow at an 8.9% annual rate.
- End users have segmented the market for continuous renal replacement therapy into hospitals, clinics, and others. The hospital segment led the market in 2018 and is expected to continue to do so during the projected period.
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Competitive Analysis
The competition section of the market study covers profiles of significant industry players based on their market shares and product offerings. Similarly, various channel strategies, marketing objectives, product reach, and corporate dashboards are included.
It is reported that 93% of high-income countries have it, while 46% and 27% of underdeveloped and under-developed countries have it, respectively. One of the world’s leading dialysis product and service providers, Fresenius Medical Care AG & Co. KGaA, has released multi-Filtrate PRO, a Continuous Renal Replacement Therapy (CRRT) therapy system for the treatment of acute renal failure in critically ill intensive care patients.
Some of the top makers of continuous renal replacement therapy are focusing on novel marketing strategies in order to expand their product reach in the Asian market. A crucial success aspect is leading suppliers’ price reduction strategy in consumables. Local consumables providers compete fiercely with these firms. Traditional distribution routes, such as wholesalers and retailers, are under siege by these supply.
“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.
Key Players:
Some of the key players featured in the report include Fresenius Medical Care AG & Co. KGaA; Baxter International Inc.; B. Braun Melsungen AG; Medica SpA; Nikkiso Co., Ltd.; Nipro corp.; Toray Medical Co., Ltd.; NxStage Medical, Inc.; Asahi Kasei Corp. and Medtronic plc.
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Continuous Renal Replacement Therapy Market Key Segment
Continuous Renal Replacement Therapy Market by Product Type:
- System
- Consumables
Continuous Renal Replacement Therapy Market by End User:
- Hospitals
- Ambulatory Centers
- Specially Clinics
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