PUBLISHER: Grand View Research | PRODUCT CODE: 1363332
PUBLISHER: Grand View Research | PRODUCT CODE: 1363332
The global continuous renal replacement therapy market size is anticipated to reach USD 2,603.8 million by 2030, according to a new report by Grand View Research, Inc.. The market is expected to expand at a CAGR of 8.6% from 2023 to 2030. The primary driving factors for market growth are increasing prevalence of congestive heart failure and acute renal failure. The COVID-19 is expected to have a positive impact on market due to increasing prevalence of acute kidney injury. According to a WHO, acute kidney injury, a potentially life-threatening condition in which the kidneys cease working and uremic and fluid toxins build up in the body, is one of the many COVID-19 side effects. As a result, as the COVID-19 outbreak expands, demand for CRRT will continue to climb.
Over the forecast period, technological advancements are expected to be a crucial driver in the growth of the market. For example, in August 2020, Baxter International Inc., a global leader in acute care, announced that Regiocit, the company's replacement solution containing citrate for extracorporeal circuit regional citrate anticoagulation, has acquired an Emergency Use Authorization (EUA) from the U.S Food and Drug Administration (FDA). Regiocit is exclusively approved for use as a replacement solution in adult patients receiving Continuous Renal Replacement Therapy (CRRT) and who require regional citrate anticoagulation during the COVID-19 pandemic, according to the EUA.