Market Research Report
Continuous Renal Replacement Therapy Market Size By Modality, By Product, By Therapy Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025
|Published by||Global Market Insights Inc.||Product code||752457|
|Published||Content info||160 Pages
Delivery time: 2-3 business days
|Continuous Renal Replacement Therapy Market Size By Modality, By Product, By Therapy Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025|
|Published: August 16, 2019||Content info: 160 Pages||
Continuous Renal Replacement Therapy Market will exceed USD 1.4 billion by 2025; as per a new research report.
Increasing prevalence of diabetes across the globe will prove beneficial for market growth over the forecast period. Diabetes is a leading factor contributing to renal failures that augment demand for CRRT. Diabetes disrupts the blood vessels in the kidney that adversely affects its functioning. Additionally, people suffering from type 2 diabetes have a higher risk of acquiring renal disorders. As a result, diabetic people prominently rely on continuous renal replacement therapy that will accelerate market growth in the forthcoming future.
The growing geriatric population especially in developed regions such as North America and Europe will surge the demand for advanced therapies over the analysis timeframe. The geriatric population is more susceptible to numerous disorders that rise the morbidity rate and makes them vulnerable to kidney disorders or renal failures. The prominent aged population suffers from acute kidney failures that augment demand for continuous renal replacement therapy, thereby propelling industry growth. However, complexities associated with CRRT may hinder market growth to a certain extent.
Continuous venovenous hemodialysis (CVVHD) segment was accounted for more than USD 410 million in 2018 and it is anticipated to witness substantial growth in the forthcoming future. Continuous venovenous hemodialysis is an efficient treatment for patients suffering from acute renal failure. Additionally, advanced therapies generally have technical advantages and are primarily suitable for the geriatric population. Also, CRRT offers substantial solute clearance that rises its preference thereby propelling segment growth.
Consumables segment of the continuous renal replacement therapy market is anticipated to witness more than 7.0% growth over the analysis timeframe. Consumables required for continuous renal replacement therapy are of superior quality and cost-effective. Furthermore, consumables utilized during CRRT treatment need to be replaced after every step to prevent contamination. Recycled consumables such as fistula needles may threat a patient's life. As a result, the high replacement rate of consumables will propel its demand that will stimulate segment growth in the near future.
The non-renal segment was valued around USD 180 million in 2018 and it is anticipated to witness significant growth during the analysis timeframe. Non-renal disorders such as sepsis and inflammatory syndromes can be cured with continuous renal replacement therapy, thereby propelling its demand in the coming years. Additionally, CRRT therapies have a pivotal role in removing mediators from blood circulation. As a result, the growing usage of CRRT in treating several non-renal disorders will favor segment growth over the forecast period.
Europe continuous renal replacement therapy market is anticipated to witness around 6% CAGR throughout the analysis timeframe. The increasing number of baby boomers susceptible to chronic diseases will prove beneficial for regional market growth. Also, growing incidences of diabetes across the region will fuel demand for continuous renal replacement therapy. The aforementioned factors will accelerate regional growth in coming years.
Some of the notable competitive players operating in the continuous renal replacement therapy market are B.Braun Melsungen, Fresenius Medical Care, Medical Components, Nxtstage, Asahi Kasei Corporation, Infomed, Medites, Medica, NikkisoToray, Medtronic and Baxter International. These companies are adopting several strategic activities such as collaborations, product launches, geographical expansions, mergers, and acquisitions. These activities will enable companies to garner more market share in the global market. For instance, in September 2017, B. Braun launched next-generation dialyzer Xeyonta for the U.S market. The advanced technology employed in the device helps in removing a higher amount of toxins from the patient's blood. Thus, increasing number of product launches will help the company to expand its product base and geographical footprint.