Continuous Renal Replacement Therapy Market to Exceed US$ 1656.1 Mn in Revenues by 2027
Rising prevalence of acute kidney disorders and associated risk factors such as diabetes continue to escalate the popularity of continuous renal replacement therapy (CRRT). Additional factors such as the globally increasing geriatric population, greater R&D initiatives and technological advancement in dialysis procedures are expected to further boost the demand for CRRT over the course of time. CRRT has proven to be quite an effective dialysis procedure and hence being rapidly adopted by a number of healthcare organisations. A new study conducted by Future Market Insights projects that revenue of the global market for continuous renal replacement therapy is set to increase at an impressive CAGR of 7.7 % during the forecast period (2017-2027). Moreover, robust marketing and product innovation from CRRT dialysis equipment manufacturers are favourably impacting the market’s revenue growth.
FMI’s report titled "Continuous Renal Replacement Therapy Market: Global Industry Analysis and Opportunity Assessment 2017–2027" reveals that in 2016, North America accounted for the largest revenue share of the global CRRT market. The presence of an advanced healthcare infrastructure and widespread awareness about the availability of latest dialysis treatments is supporting the growth of the CRRT market in North America. Meanwhile, Asia Pacific excluding Japan (APEJ) is expected to emerge as the most lucrative market for CRRT over the forecast period, reflecting a CAGR of 8.8%. Towards the end of 2027, the region’s market is estimated to surpass a valuation of US$ 333 Mn.
The report mentions that many of the leading market players are actively focusing on introducing new technologies as well as upgrading their existing products in order to expand their market presence. At the same time, some of the bigger companies are going into strategic alliances to leverage the opportunities present in regions such as North America and APEJ.
Fresenius Medical Care AG & Co. KGaA, Baxter International Inc., B. Braun Melsungen AG, Nikkiso Co., Ltd, NxStage Medical, Inc., Asahi Kasei Corp, NIPRO Corporation, Medica spa., Toray Medical Co., Ltd, Medtronic plc., Bain Medical Equipment (Guangzhou) Co. Ltd., INFOMED SA., Medical Components, Inc., Medites Pharma, S.R.O., Jihua Medical Apparatus & Instruments Co., Central Admixture Pharmacy Services Inc., Haidylina for Advanced Medical Industries, Hemoclean Co. Ltd., FARMASOL Medical Products Ind. and Trd. Co. are among the top companies that operate in the global market for continuous renal replacement therapy.
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Novelty in dialysis treatment is facilitating interventional procedures with minimal patient discomfort. Based on product, the consumables segment is projected to account for the largest value share of the market during the forecast period. This segment is gaining traction primarily due to an expanding pool of patients suffering from acute kidney disease and increasing demand for dialysis in renal replacement therapy.
By end user, both dialysis centre and hospitals currently account for sizeable revenue shares of the market. The rising healthcare spending in the emerging economies is anticipated to result in the establishment of more hospitals and new multi-specialty dialysis centres in the near future.
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