Continuous Renal Replacement Therapy Market to Hit $1.4 Billion by 2025: Global Market Insights, Inc.
The North American continuous renal replacement therapy market surpassed USD 283 million in 2018 and is poised to register significant CAGR from 2019 to 2025, driven by growing awareness regarding availability of advanced CRRTs for treating end stage renal diseases.
SELBYVILLE, Del., October 8, 2019 (Newswire.com) - The Global Continuous Renal Replacement Therapy Market is poised to cross USD 1.4 billion by 2025; according to a new research report by Global Market Insights, Inc. The increasing prevalence of renal diseases will propel the CRRT market growth during the analyzed time frame. According to Kidney Disease Statistics, an estimated 31 million people suffer from chronic kidney disease in the U.S. alone. Similarly, the number of individuals experiencing pain due to kidney diseases is significantly high in developing regions. Doctors and physicians recommend CRRT for managing the pain caused due to chronic kidney diseases. Thus, mounting adoption of CRRT for treating chronic diseases should stimulate market growth.
The rising geriatric population should positively impact market growth. The suffering of the elderly population from diabetes and other chronic conditions makes them susceptible to kidney failure. According to World Population Review, around 26.7% of the population in Japan consists of people in the age group of 65 years and above. The majority of the elderly population that suffers from acute kidney failure causes a surge in demand for continuous renal replacement therapy that should boost growth for the industry. However, complications associated with continuous renal replacement therapy may restrain industry growth to some extent.
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The Slow Continuous Ultrafiltration (SCUF) segment of the continuous renal replacement therapy market will witness around 4% growth during the forecast time frame. SCUF is mostly preferred by patients experiencing blood pressure problems and cardiac failure. Cardiovascular diseases may interfere with normal kidney functioning and result in partial or total loss of kidney functions. In such chronic conditions, there is an electrolyte imbalance. There is a considerable reduction in the blood urea and creatinine levels after undergoing continuous slow ultrafiltration treatment that stimulates its demand. Moreover, slow continuous ultrafiltration is known to reduce extravascular water and has significantly reduced the mortality rates in patients suffering from acute decompensated heart failure that should further propel the segmental growth.
The instruments segment accounted for over 39% in 2018 and will grow considerably over the forthcoming years. Industry players are involved in developing superior quality instruments that are utilized in CRRT. For instance, in September 2017, Baxter International announced the commercial launch of its oXiris set, to be used in continuous renal replacement therapy (CRRT). The oXiris set helps in removing excessive levels of endotoxin and cytokines from a patient’s blood. Hence, growing availability of advanced CRRT instruments should stimulate the segmental growth.
Browse key industry insights spread across 160 pages with 98 market data tables & 8 figures & charts from the report, “Continuous Renal Replacement Therapy Market Size By Modality (Continuous Venovenous Hemofiltration, Continuous Venovenous Hemodiafiltration, Continuous Venovenous Hemodialysis, Slow Continuous Ultrafiltration), By Product (Instruments, Consumables), By Therapy (Renal, Non-renal) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Spain, Russia, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
The renal therapies segment market was valued at over USD 690 million in 2018. The increasing prevalence of kidney diseases should escalate demand for renal therapies. Newly developed renal therapies are usually used in treating rapidly rising serum, creatinine levels, oliguria and severe metabolic acidosis. Therefore, these renal therapies are highly preferred by people suffering from end-stage kidney failure diseases that do not find donors for kidney transplants, stimulating the growth of the market.
The Asia Pacific continuous renal replacement therapy market held around 19.5% revenue share in 2018. Regional growth will be driven by the increasing prevalence of diabetes in emerging economies such as India and China. These countries have unhealthy eating habits and sedentary lifestyles that lead to obesity in individuals, ultimately increasing their blood sugar levels. Diabetes interferes with normal kidney functioning and is a leading cause of renal failure in the geriatric population. Moreover, CRRT system manufacturing companies based in Asia Pacific such as Asahi Kasei focus their R&D efforts on developing new CRRT systems that provide accurate treatment to patients suffering from acute renal injuries. The aforementioned factors coupled with rising government initiatives will positively impact the continuous renal replacement therapy market in Asia Pacific.
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 and Toray. The companies undertake certain strategic initiatives such as new product launches, acquisitions and mergers that help them in maintaining their market position. For instance, in September 2017, B. Braun launched xevonta, a next-generation dialyzer. Its advanced membrane technology helps in removing toxins from a patient's blood. The new product launch will help in broadening its product portfolio.
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