PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1441366
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1441366
Global Continuous Renal Replacement Therapy Market is valued at approximately USD 1.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.1% during the forecast period 2023-2030. Continuous Renal Replacement Therapy (CRRT) is a crucial intervention in managing renal function for critically ill patients facing Acute Kidney Injury (AKI). This method provides a continuous 24-hour dialysis therapy that is particularly beneficial for patients experiencing hemodynamic instability. CRRT involves the gradual removal of solutes from the blood through processes such as hemofiltration, hemodialysis, or a combination of both, and it is administered continuously within an ICU setting, distinguishing it from conventional renal replacement therapies. The market for CRRT has witnessed significant growth due to factors such as the increasing ICU admissions globally, a surge in sepsis-related AKI cases, the growing clinical advantage of CRRT over intermittent blood purification, and the rising prevalence of diabetes and hypertension.
In addition, the rising number of patients in critical care units globally, particularly those experiencing Acute Kidney Injury (AKI) is primarily supporting the market growth. AKI is a prevalent concern in Intensive Care Units (ICUs), and CRRT has proven impactful in managing critically ill patients with this complication. For instance, recent data from the Centers for Disease Control and Prevention (CDC) indicates that around 1.7 million adults in the U.S. develop sepsis, contributing to a high demand for CRRT as a vital component in managing sepsis-associated AKI with its associated morbidity and mortality rates. Also, a National Center for Biotechnology Information (NCBI) article from October 2020 states that between 13% and 18% of hospitalized patients in the United Kingdom suffer from acute renal damage. The therapy is primarily administered to patients with severe conditions such as cancer, diabetes, and cardiac surgery, providing crucial support for 24 hours or longer, depending on the patient's medical condition. According to the Department of Economic and Social Affairs, in 2019, the world's population of people aged 65 and up totalled 703 million. Also, the number of elderly people is expected to increase to 1.5 billion by 2050. The prevalence of AKI and the growing geriatric population worldwide contribute to the increasing demand for CRRT. The surge in ICU admissions due to age-related health conditions, such as hypertension, cancer, heart disease, diabetes, and stroke, highlights the therapy's importance in managing acute and chronic health issues. The projected rise in the global aging population further emphasizes the expanding role of CRRT in meeting healthcare needs. These factors collectively drive the continuous expansion of the CRRT Market. Moreover, the development of CRRT from simple renal replacement treatment to multi-organ support therapy, as well as the rising emphasis on the research activities to establish the safety and efficacy profile of CRRT presents various lucrative opportunities over the forecast years. However, the lack of standard treatment guidelines in developing nations and the high complexity of CRRT are hindering market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Continuous Renal Replacement Therapy Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the high prevalence of Acute Kidney Injury (AKI) among Intensive Care Unit (ICU) patients, robust demand for therapy-related products surpassing other regions, and the presence of well-established healthcare infrastructure. Furthermore, the region benefits from increasing support from regulatory bodies, and the strong presence of product manufacturers contributes to its significant market share. For instance, in April 2022, Baxter International Inc. obtained the 510(k) clearance from the U.S. Food and Drug Administration for its ST Set utilized in this therapy, compatible with PrisMax or Prismaflex control units. Whereas, Asia Pacific is expected to grow at the fastest CAGR over the forecast years. The rising incidence rates of diabetes, Chronic Kidney Disease (CKD), and hypertension are significantly propelling the market demand across the region. Additionally, increased healthcare expenditure and growing research and development investments contribute to the flourishing healthcare market, which is further supporting the market expansion over the anticipated years.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable