Continuous Renal Replacement Therapy (CRRT) Market size worth $1.8 Billion, Globally, by 2028 at 6.3% CAGR: Verified Market Research®
Jersey City, N.J., Oct. 12, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Continuous Renal Replacement Therapy (CRRT) Market" By Modality (CVVH, CVVHDF, CVVHD, SCUF), By Product Type (Dialysate & Replacement Fluids, Disposables, Systems), and By Geography. According to Verified Market Research, the Global Continuous Renal Replacement Therapy (CRRT) Market size was valued at USD 1.1 Billion in 2020 and is projected to reach USD 1.8 Billion by 2028, growing at a CAGR of 6.3% from 2021 to 2028.
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Browse in-depth TOC on "Continuous Renal Replacement Therapy (CRRT) Market"
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Global Continuous Renal Replacement Therapy (CRRT) Market Overview
An increase in the prevalence of acute kidney injury (AKI) is expected to increase the demand for CRRT. AKI, also known as acute renal failure (ARF), is an abrupt loss of kidney function or kidney damage within a few hours or days. AKI causes a build-up of waste products in your blood and makes it hard for your kidneys to balance the proper body fluid. AKI can also affect other organs such as the heart, brain, and lungs. Acute kidney injury is common in patients in the hospital, in intensive care units, and especially in older adults. If not treated, the condition has a high risk of multiple organ failure and death.
According to the International Society of Nephrology, there are around 13.3 million cases of AKI every year. The burden is on the increase in emerging countries, where the annual incidence is 11.3 million. Out of 1.7 million deaths per year globally caused by AKI, around 1.4 million occur in low- and middle-income countries. The increasing prevalence of AKI is strongly associated with increased early and long-term patient morbidity and mortality and chronic kidney disease (CKD). AKI is often preventable and treatable with few, if any, long-term health consequences. Identifying the signs and starting treatment early means more patients will get essential care before it's too late.
However, the high cost associated with CRRT may restrain its demand in emerging economies, thereby hampering the continuous renal replacement market growth. Markets like China, India, Brazil, and Mexico are expected to offer significant growth opportunities for players in the CRRT market. To leverage the considerable growth opportunities in emerging countries, players increasingly focus on undertaking strategic growth to increase their presence in these markets. In addition, regulatory policies in the Asia Pacific region are more adaptive and business-friendly. This, along with the competition in the mature markets, will further encourage CRRT product manufacturers to focus on emerging markets.
Key Developments in Continuous Renal Replacement Therapy (CRRT) Market
- In April 2020, Fresenius Medical Care received US FDA Emergency Use Authorization for multiFiltrate PRO System and multiBic/multiPlus Solutions to provide CRRT to treat patients in an acute care environment during the COVID-19 pandemic.
- In August 2020, Baxter obtained US FDA Emergency Use Authorization for Regiocit Replacement Solution used In CRRT.
- In December 2020, Medtronic Plc announced the launch of a new Carpedium system. This system was the first neonatal and pediatric acute dialysis system created for treating patients who need renal replacement therapy.
The major players in the market are Baxter International Inc., Fresenius Medical Care AG & Co. KGaA, NIKKISO CO., LTD., B. Braun Melsungen AG, Asahi Kasei Corporation, Toray Medical Co., Ltd., Infomed SA, Medtronic plc, Medica S.p.A., and Medical Components, Inc.
Verified Market Research has segmented the Global Continuous Renal Replacement Therapy (CRRT) Market On the basis of Modality, Product Type, and Geography.
- Continuous Renal Replacement Therapy (CRRT) Market, By Modality
- o Continuous venovenous hemofiltration (CVVH)
- o Continuous venovenous hemodiafiltration (CVVHDF)
- o Continuous venovenous hemodialysis (CVVHD)
- o Slow continuous ultrafiltration (SCUF)
- Continuous Renal Replacement Therapy (CRRT) Market, By Product Type
- o Dialysate & Replacement Fluids
- o Disposables
- o Systems
- o Others
- Continuous Renal Replacement Therapy (CRRT) Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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