Pune, India -- (SBWire) -- 01/14/2020 --The latest report on "Continuous Renal Replacement Therapy (CRRT) Market (Product - Disposables, Systems, and Dialysates and Replacement Fluids; Therapy - Non-Renal, and Renal; Modality - Slow Continuous Ultrafiltration (SCUF), Continuous Venovenous Hemofiltration (CVVH), Continuous Venovenous Hemodialysis (CVVHD), and Continuous Venovenous Hemodiafiltration (CVVHDF); End-user - Hospitals, Dialysis Clinics, Homes, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024." The global continuous renal replacement therapy market is projected to grow at a CAGR of 5.25% over the forecast period of 2018-2024.
Continuous renal replacement therapy is an effective and alternative renal replacement therapy for the removal of wastes and excess plasma water in critically ill patients. It is mostly used for those individuals who are hypotensive and cannot tolerate the rapid fluid and electrolyte shifts of hemodialysis. During CRRT, blood is removed from the arterial lumen of a catheter by a peristaltic blood pump and pushed through a semipermeable membrane before being pumped back into patients via the venous lumen of the catheter.
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Rising Prevalence of Chronic Kidney Disease Drives the Growth of Continuous Renal Replacement Therapy Industry
The rising prevalence of chronic kidney disease is the major driving factor for the growth of continuous renal replacement therapy market. Kidney disease is a leading cause of death in the United States. An estimated 31 million people in the United States have chronic kidney diseases. Diabetes and high blood pressure are the leading causes of kidney failure. The growing occurrences of these diseases owing to a stressful lifestyle, unhealthy diet, physical inactivity, cigarette smoking, and high intake of alcohol are augmenting the prevalence of kidney diseases among individuals that results in the growth of the continuous renal replacement therapy market.
Dialysis Clinics Hold a Significant Share in the Continuous Renal Replacement Therapy Market
The global continuous renal replacement therapy market is bifurcated into the product, therapy, modality, and end-user. The end-user segment if further bifurcated into hospitals, dialysis clinics, homes, and others. Among the end-user segment, the dialysis clinic holds a significant share in the continuous renal replacement therapy market owing to the growing population of patients needing kidney dialysis.
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North America Region to Dominate the Continuous Renal Replacement Therapy Market Over the Forecast Period of 2018-2024
Geographically, the market is divided into North America, Europe, Asia Pacific, and RoW. North America dominated the Continuous Renal Replacement Therapy market. The U.S is a key country that is driving the North America continuous renal replacement therapy market. The high acceptance of medical devices and the increase in stressful lifestyle in the U.S. promotes the growth of Continuous Renal Replacement Therapy market in this region. In addition, chronic kidney diseases affect a large population in this region.
Moreover, high per capita expenditure on healthcare, high disposable income, and reformation in the healthcare system such as reimbursement offerings is driving the demand for the insulin delivery systems. These factors have led to growth in the North American market. The Asia Pacific region is expected to grow at the fastest CAGR over the forecast period. The increasing incidence of diabetes and high blood pressure in India and China coupled with the rise in the elderly population are favoring the growth of the Continuous Renal Replacement Therapy market in the Asia Pacific region. Going further, growth in medical tourism and rising disposable income are among the vital factors that would lead to the adoption of the Continuous Renal Replacement Therapy market in the Asia Pacific region.
Continuous Renal Replacement Therapy Industry: Competitive Landscape
The major players in the continuous renal replacement therapy market are INFOMED SA, Baxter International Inc., Toray Medical Co., LTD, Asahi Kasei Medical Co., Ltd., NIKKISO CO., LTD., B. Braun Melsungen AG, Nipro Corporation, Bellco (Medtronic plc.), NxStage Medical, Inc., and Fresenius Medical Care AG & Co. KGaA.
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=> Comprehensive analysis of global as well as regional markets of continuous renal replacement therapy.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
