May 10, 2019 (Heraldkeeper via COMTEX) — Global Continuous Renal Replacement Therapy Market is set to exceed USD 1.3 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising prevalence of chronic kidney disorders will augment the CRRT market growth during the forecast timeframe. According to National Kidney Foundation, around 10% of population suffers from chronic renal diseases and over millions of them die every year globally. Favorable regulations by regulatory bodies such as FDA enforce certain laws on manufacturers that ensures availability of superior quality CRRT devices in intensive care units thereby augmenting CRRT industry growth in foreseeable future.
Increasing R&D efforts by market leaders such as Asahi Kasei, Baxter, Fresenius Kabi and B.Braun have improved medical systems used in the continuous renal replacement therapy. For instance, Diapact CRRT system developed by B.Braun is integrated with advanced technology that enables efficient treatment of acute kidney diseases and injuries. The acute blood filtration process is carried out accurately without any obstructions ensuring faster recovery of patients. Improvements in the CRRT systems will ultimately favor continuous renal replacement therapy market growth. However, high costs of the CRRT systems may hamper the business growth in future.
Continuous venovenous hemodiafiltration (CVVHDF) segment accounted for 29.6% in 2017. High revenue share is attributed to the preference for this modality amongst geriatric population owing to ease and convenience associated with it. The therapy is utilized in patients with multisystem organ failure or acute renal failure. CVVHDF is a slow continuous form of intermittent dialysis that enables quick patient recovery by maintaining electrolyte balance in the body.
Slow Continuous Ultrafiltration (SCUF) segment will witness 6.4% CAGR during the forecast timeframe. SCUF is mostly preferred by patients suffering from cardiac failure and blood pressure problems. There is a considerable reduction in the blood urea and creatinine levels after undergoing continuous slow ultrafiltration treatment. Increasing geriatric population in developed as well as developing economies that suffers from cardiac arrest due to kidney failure will boost Continuous Renal Replacement Therapy Market growth over the upcoming years.
Instruments segment will experience robust 7.3% CAGR during forecast timeframe. The segmental growth is attributable to rising preference for CRRT. Major players focus their efforts on developing new technologically advanced CRRT system. These innovations introduced within the CRRT systems enable faster patient recovery and thus, increased adoption of these instruments enhancing segmental growth.
Unable to play video. HTML5 is not supported!
Consumables segment was valued at USD 500.7 million in 2017. CRRT involves use of consumables such as catheters and blood tube sets that are utilized in blood purification process. CRRT demands frequent replacement of consumables as reusing these consumables may lead to complications. High replacement rate coupled with increasing demand for CRRT therapies will augment the usage of consumables rendering positive impact on Continuous Renal Replacement Therapy Market growth.
U.S. continuous renal replacement therapy market will experience 7.4% CAGR during the forecast timeframe and increasing elderly population base will further enhance business growth in near future. Incidences of chronic kidney diseases and acute kidney injuries is high amongst the geriatric population. According to Kidney News, population in the age group of 65 years and above have high chances of acquiring end stage renal diseases (ESRD). Moreover, rising government initiatives that help in reducing the cost of therapies will positively influence CRRT industry growth
CRRT Market, By Modality (USD Million)
1 Continuous Venovenous Hemofiltration (CVVH)
2 Continuous Venovenous Hemodiafiltration (CVVHDF)
3 Continuous Venovenous Hemodialysis (CVVHD)
4 Slow Continuous Ultrafiltration (SCUF)
CRRT Market, By Product (USD million)
Prominent industry players operational in the Continuous Renal Replacement Therapy Market include Asahi Kasei Corporation, B.Braun Melsungen, Baxter International, Fresenius Medical Care, Infomed, Medica, Medical Components, Medites, Medtronic, Nikkiso, Nxtstage, Toray. These industry players implement certain strategic initiatives such as mergers and acquisitions that help them in maintaining their market position. For instance, Fresenius Medical Care undertakes certain decision such as innovations in medical devices used in the acute therapy. It recently developed multiFiltratePRO system that is used in efficient treatment of acute kidney diseases. Development of such new products will ensure sustainable profits for the company.
Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
18.104.22.168. Paid sources
22.214.171.124. Unpaid sources
Chapter 2. Executive Summary
2.1. Continuous renal replacement therapy industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Modality trends
2.1.3. Product trends
2.1.4. Therapy trends
2.1.5. Regional trends
Chapter 3. Continuous Renal Replacement Therapy Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
126.96.36.199. Growing incidences renal diseases in emerging economies in Asia Pacific
188.8.131.52. High prevalence of diabetes in Europe & MEA
184.108.40.206. Rising geriatric population more susceptible to kidney failure globally
220.127.116.11. R&D expenditures by key industry players in North America & Europe
Chapter 4. Continuous Renal Replacement Therapy Market, By Modality
4.1. Key segment trends
4.2. Continuous Venovenous Hemofiltration (CVVH)
4.2.1. Market size, by region, 2013-2024 (USD Million)
4.3. Continuous Venovenous Hemodiafiltration (CVVHDF)
4.3.1. Market size, by region, 2013-2024 (USD Million)
4.4. Continuous Venovenous Hemodialysis (CVVHD)
4.4.1. Market size, by region, 2013-2024 (USD Million)
4.5. Slow Continuous Ultrafiltration (SCUF) 4.5.1. Market size, by region, 2013-2024 (USD Million)Data TablesTABLE 1.Continuous renal replacement therapy industry 3600 synopsis, 2013 – 2024 TABLE 2.Continuous renal replacement therapy market, 2013-2024 (USD Million) TABLE 3.Continuous renal replacement therapy market, 2013-2024 (USD Million) TABLE 4.Continuous renal replacement therapy market, by modality, 2013-2024 (USD Million) TABLE 5.Continuous renal replacement therapy market, by product,2013-2024 (USD Million) TABLE 6.Continuous renal replacement therapy market, by therapy, 2013-2024 (USD Million) TABLE 7.Continuous renal replacement therapy market, by region, 2013-2024 (USD Million) TABLE 8.Industry impact forces TABLE 9.Product market size, by region, 2013 – 2024 (USD Million) CONTINUE READING
Click here to view original web page at Continuous Renal Replacement Therapy Market 2018-24 | Industry Analysis, Growth Forecast by Product, Modality, Therapy