(PharmaNewsWire.Com, September 15, 2021 ) According to the new market research report, published by MarketsandMarkets™, the global CRRT Market size is projected to reach USD 1.7 billion by 2026 from USD 1.2 billion in 2021, at a CAGR of 7.3% during the forecast period.
The Rise in the global incidence of AKI and increase in the demand for effective renal replacement therapy among ICU patients and initiatives undertaken by governments to increase the awareness about CRRT therapy along with the increase in the launch of advanced CRRT system area anticipated to fuel the Continuous Renal Replacement Therapy Market growth during the forecast period.
The CRRT market includes major Tier I and II suppliers of CRRT products are Baxter International Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), NIKKISO CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Asahi Kasei Corporation (Japan), Toray Medical Co., Ltd. (Japan), Infomed SA (Switzerland), Medtronic plc (Ireland), Medica S.p.A. (Italy), Medical Components, Inc. (US), Medites Pharma spol. s.r.o. (Czech Republic), SWS Hemodialysis Care Co., Ltd. (China), Ningbo Tianyi Medical Devices Co., Ltd. (China), Nipro Corporation (Japan), and Anjue Medical Equipment Co., Ltd. (China),
These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. The early initiation of continuous renal replacement therapy (CRRT) is an important step to curbing the rising incidence of AKI due to the COVID-19 infection. However, owing to the rapid rise in the demand by healthcare systems, HD and PD exist as an alternative dialysis treatment in ICUs, which can have a negative impact on the growth of the CRRT market during this period.
The growing demand for dialysate to support the market growth during the forecast period.
The significant rise in demand for CRRT in the treatment of hemodynamically unstable patients. Moreover, the development and commercialization of novel renal replacement solutions also support market growth. Furthermore, many companies are expanding their dialysate product portfolios. For instance, in August 2020, NIPRO CORPORATION acquired shares in dialysate MTN Neubrandenburg GmbH, involved in the manufacturing and sales of dialysates. Additionally, there has been an increase in the global incidence of acute kidney injury (AKI), which has driven the demand for dialysates and prompted manufacturers to ramp up dialysate production.
Asia Pacific likely to emerge as the fastest-growing Continuous Renal Replacement Therapy Market, globally
Geographically, the emerging Asian countries, such as China, India, Japan and Singapore, are offering high-growth opportunities for market players. The Asia Pacific point of care market is projected to grow at the highest CAGR of 9.7% from 2021 to 2026. Expansion of healthcare infrastructure and increase in disposable personal income, increase patient population with acute kidney disease, diabetes, hypertension are factors likely to support the growth of CRRT market in the region.
Prominent players in this Continuous Renal Replacement Therapy Market are Baxter International Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), NIKKISO CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Asahi Kasei Corporation (Japan), Toray Medical Co., Ltd. (Japan), among others
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