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Continuous Renal Replacement Therapy Market worth $2.1 billion | MarketsandMarkets

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MarketsandMarkets

06 Oct, 2023, 14:45 GMT

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CHICAGO, Oct. 6, 2023 /PRNewswire/ -- The continuous renal replacement therapy (CRRT) industry is poised for significant growth in the near future. With an aging global population and a rising incidence of chronic kidney diseases, the demand for CRRT systems and services is expected to soar. Advancements in technology are driving innovation, leading to more efficient and patient-friendly CRRT devices. Additionally, the increasing recognition of the importance of early intervention in kidney-related conditions is likely to boost the adoption of CRRT as a vital treatment modality. As healthcare systems worldwide continue to focus on improving patient outcomes and reducing the burden of renal disease, the CRRT industry is positioned to play a crucial role in meeting these healthcare challenges head-on.

Continuous Renal Replacement Therapy Market in terms of revenue was estimated to be worth $1.4 billion in 2023 and is poised to reach $2.1 billion by 2028, growing at a CAGR of 8.1% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The rise in the global incidence of Acute kidney Injury (AKI) and increase in the demand for effective renal replacement therapy among the patients 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.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=246917088

Browse in-depth TOC on "Continuous Renal Replacement Therapy Market"

186 - Tables
49 - Figures
233 - Pages

Continuous Renal Replacement Therapy Market Scope:

Report Coverage

Details

Market Revenue in 2023

$1.4 billion

Estimated Value by 2028

$2.1 billion

Growth Rate

Poised to grow at a CAGR of 8.1%

Market Size Available for

2021–2028

Forecast Period

2023–2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product, modality, age group, End user and region

Geographies Covered

North America (US & Canada), Europe (Germany, the UK, France, Italy, Spain, and RoE), APAC (Japan, China, Australia, South Korea India, and the RoAPAC), LATAM (Brazil, Mexico, and RoLATAM), and MEA

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Emerging markets in APAC and RoW

Key Market Drivers

Increase in the prevalence of incidence of acute kidney injury (AKI)

"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.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=246917088

Continuous Renal Replacement Therapy Market Dynamics:

Drivers:

  1. Increase in the prevalence of incidence of acute kidney injury (AKI)

Restraints:

  1. High procedural cost of CRRT

Opportunities:

  1. Emerging markets in APAC and RoW

Challenge:

  1. Shortage of trained ICU professionals in developing nations

Key Market Players of Antibody Drug Conjugates Industry:

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

Recent Developments:

  • In 2020, Medtronic plc announced the launch of the Carpediem system, the first and only pediatric and neonatal acute dialysis system designed to treat patients weighing 2.5–10 kg (5.5–22 pounds) requiring renal replacement therapy.
  • In 2019, Baxter International Inc. introduced the PrisMax CRRT system in the US
  • In 2019, Fresenius Medical Care AG & CO. KGaA announced the launch of the 4008A dialysis machine in India.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=246917088

Continuous Renal Replacement Therapy Market Advantages:

  • Precise and Gradual Treatment: CRRT allows for precise control over fluid and electrolyte balance, minimizing the risk of sudden shifts, which is particularly crucial for critically ill patients.
  • Continuous Therapy: CRRT provides continuous and steady renal support, reducing hemodynamic instability and enhancing patient tolerability compared to intermittent treatments.
  • Versatility: It is adaptable for various patient populations, including neonates, children, and adults, making it suitable for a wide range of clinical scenarios.
  • Management of Complex Conditions: CRRT is effective in managing conditions like sepsis, where fluid overload and removal of inflammatory mediators are critical aspects of treatment.
  • Bedside Application: It can be performed at the patient's bedside, reducing the need for patient transportation, minimizing complications, and improving overall safety.
  • Improved Patient Outcomes: CRRT contributes to better outcomes in patients with acute kidney injury, renal dysfunction, and critical illnesses by maintaining stable conditions.
  • Reduced Healthcare Burden: By preventing the need for more invasive and intermittent treatments, CRRT can reduce the overall burden on healthcare resources and staff.
  • Longer Treatment Durations: CRRT can be administered over extended periods, allowing for more comprehensive renal support in cases requiring extended treatment.
  • Better Tolerance: Patients tend to tolerate CRRT better due to its gradual and continuous nature, minimizing fluctuations in vital parameters.
  • Customizable Therapies: CRRT therapies can be tailored to individual patient needs, optimizing treatment effectiveness while minimizing risks.

These advantages collectively demonstrate the importance of CRRT in modern healthcare, particularly in critical care and renal management.

Related Reports:

Plasma Fractionation Market - Global Forecasts to 2028

Leukapheresis Market - Global Forecasts to 2028

Hemodialysis and Peritoneal Dialysis Market - Global Forecasts to 2026

Extracorporeal Membrane Oxygenation Machine Market - Global Forecasts to 2026

Apheresis Market - Global Forecasts to 2025

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/continuous-renal-replacement-therapy-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
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