Continuous Renal Replacement Therapy Market to Reach USD 2.6 Billion, Globally, by 2031 at 7.7% CAGR: Allied Market Research
Surge in prevalence of kidney-related diseases, demand for continuous renal replacement therapy, rise in geriatric population, and increase in technologically advanced CRRT products for pediatrics drive the growth of the global continuous renal replacement therapy market.
PORTLAND, Ore., Sept. 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, 'Continuous Renal Replacement Therapy Market by Product (Dialysates and Replacement Fluids, Disposables, CRRT Systems), by Modality (Continuous Venovenous Hemofiltration (CVVH), Continuous Venovenous Hemodiafiltration (CVVHDF), Continuous Venovenous Haemodialysis (CVVHD), Slow Continuous Ultrafiltration (SCUF)), by Age Group (Adults, Pediatrics): Global Opportunity Analysis and Industry Forecast, 2022-2031.' According to the report, the global continuous renal replacement therapy industry amassed a sum of $1.3 billion in 2021, and is estimated to garner $2.6 billion by 2031, witnessing a CAGR of 7.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Drivers and Opportunities
Surge in prevalence of kidney-related diseases, demand for continuous renal replacement therapy, rise in geriatric population, and increase in technologically advanced CRRT products for pediatrics drive the growth of the global continuous renal replacement therapy market. However, high cost associated with CRRT devices and the lack of awareness regarding continuous renal replacement therapy in developing countries due to inadequate funding, poor healthcare infrastructure, insufficient human resources, and geographic distance hamper the market growth. On the other hand, rise in government initiatives for regulatory approval of CRRT offer potential opportunities for the market growth.
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- The COVID-19 pandemic impacted the continuous renal replacement therapy market positively, owing to a significant rise in global demand for renal replacement fluids (RRT). The early initiation of continuous renal replacement therapy (CRRT) was an important step in curbing the growing prevalence of acute kidney injury (AKI) due to the COVID-19 infection.
- Owing to the surge in demand for CRRT worldwide, the market for CRRT saw an increase in financial incentives and regulatory support from various government agencies.
- The pandemic also created opportunities for local manufacturers who are adopting various plans and policies to gain a higher market share.
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The dialysates and replacement fluids segment to rule the roost during the forecast period
Based on product, the dialysates and replacement fluids segment was the largest market in 2021, contributing to nearly three-fifths of the global continuous renal replacement therapy market, and is expected to maintain its leadership status during the forecast period. The same segment is projected to witness the fastest CAGR of 8.1% from 2022 to 2031. This is attributed to rise in the incidence of acute kidney injury which has increased the demand for continuous renal replacement therapy.
The continuous venovenous hemofiltration (CVVH) segment to maintain its leadership status during the forecast period
Based on modality, the continuous venovenous hemofiltration (CVVH) segment held nearly one-third of the global continuous renal replacement therapy market share in 2021, and is expected to maintain its leadership status during the forecast period. CVVH is widely used to remove large volumes of fluid while avoiding the hypotensive episodes caused by intermittent hemodialysis. However, the continuous venovenous hemodiafiltration (CVVHDF) segment is projected to witness the highest CAGR of 8.4% from 2022 to 2031. CVVHD is an effective treatment for patients suffering from acute renal failure.
The adults segment to lead the trail during the forecast period
Based on age group, the adults segment contributed to nearly two-thirds of the global continuous renal replacement therapy market in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the fastest CAGR of 8.0% from 2022 to 2031. The growth of the segment is attributed to various regulatory approvals for the adult CRRT, and rise in development of novel products for CRRT. Along with this, adoption of several growth strategies by the market players create lucrative opportunities in the segment.
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Asia-Pacific to maintain its lead position during the forecast period
Based on region, the market in Asia-Pacific held the largest market share of around one-third of the global continuous renal replacement therapy market in 2021, and is expected to maintain its lead position during the forecast period. The same segment is projected to manifest the fastest CAGR of 8.8% from 2022 to 2031. This is primarily attributed to the increase in number of initiatives along with rise in investments in R&D of CRRT products. In addition, increased focus of leading manufacturers on expanding their geographical presence and rise in healthcare expenditure drives the growth in the region.
Leading Market Players
- Fresenius Medical Care
- Baxter International
- Toray Industries Inc.
- SWS Hemodialysis Care
- Nipro Corporation
- Ningbo Tianyi Medical Devices
- NIKKISO Co. Ltd.
- Medtronic Plc.
- Medites Pharma spol. s.r.o
- Medical Components Inc.
- Medica S.p.A
- Infomed SA
- Chongqing Shanwaishan Science and Technology
- B. Braun Melsungen Ag
- Asahi Kasei Corporation
- Anjue Medical Equipment Co. Ltd.
The report analyzes these key players of the global continuous renal replacement therapy market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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