Press release
What's driving the Continuous Renal Replacement Therapy Market trends? Baxter International Inc., Medtronic, Fresenius Medical Care, Infomed, Medica, Medical Components, Medites, Nikkiso, Nxtstage, Toray
Continuous Renal Replacement Therapy Market
Continuous Renal Replacement Therapy Market will exceed USD 1.4 billion by 2025; as per a new research report. Increasing prevalence of diabetes across the globe will prove beneficial for market growth over the forecast period. Diabetes is a leading factor contributing to renal failures that augment demand for CRRT. Diabetes disrupts the blood vessels in the kidney that adversely affects its functioning.
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Company Profiles
o Asahi Kasei Corporation
o B.BraunMelsungen
o Baxter International Inc.
o Fresenius Medical Care
o Infomed
o Medica
o Medical Components
o Medites
o Medtronic
o Nikkiso
o Nxtstage
o Toray
Instruments segment of continuous renal replacement industry held considerable revenue share of 39.3% in 2017 and should expand enormously in foreseeable future due to increasing prevalence of acute renal failure. Moreover, the innovations introduced in the devices and systems utilized in the CRRT ensure efficient and accurate treatment amongst patients suffering from acute renal failure thereby, should augment the segmental growth in the near future.
Renal segment was valued at USD 652.1 million in 2017 and the high segmental share can be accounted to increasing dependence of patients suffering from kidney failure on renal therapies. The incidence of renal failure is particularly high in developing countries such as China and India. For instance, in 2017, there were around 175,000 new cases of renal failure have been detected in India. Aforementioned factor coupled with availability of technologically advanced medical devices will enhance the segmental growth in upcoming years.
U.S. continuous renal replacement therapy market will grow at 7.4% over the forecast timeframe owing to increasing geriatric population susceptible to renal failure. According to Population Reference Bureau, currently there are around 46 million people in age group of 65 years and above. Majority of the geriatric population suffers from loss of kidney function that should escalate business growth in the near future.
Growing R&D investment by prominent industry players such as Medtronic, Baxter Intranational and Fresenius Kabi aimed at improvements in the CRRT systems that is predicted to impact business growth. For instance, Baxter has developed PRISMAFLEX system for critical care. PRISMAFLEX system is a versatile platform that provides customized therapies according to patients ease and convenience. It is integrated with advanced technology that enables accurate CRRT in patients suffering from acute kidney injuries. Introduction of innovative and advanced CRRT systems will ensure high adoption of CRRT, thereby augmenting industry growth in forthcoming years.
Rising prevalence of acute renal failure in developed as well as developing economies will positively impact the continuous renal replacement therapy (CRRT) market growth during forecast timeframe. According to NIDDK, in 2016 around 661,000 Americans had been detected with renal failure that will escalate demand for continuous renal replacement therapies. Moreover, government initiatives for reducing cost of CRRT has proven beneficial for business growth. In emerging countries such as India, government implements certain regulations and laws to reduce cost of CRRT that will drive CRRT market growth. However, complications involved in CRRT can hamper the business growth in foreseeable future.
Continuous venovenous hemodiafiltration (CVVHDF) segment will grow at 7.3% and is expected to have similar growth trends over the forecast period. This is most common method of CRRT and is preferred mostly by hospitals having well-established intensive care units. CVVHDF enables optimal clearance of solutes by simultaneous diffusion technique. The PRISMAFLEX system manufactured by Baxter (Gambro) helps in providing superior quality CVVHDF that should escalate the segmental growth in upcoming years.
China continuous renal replacement therapy market was valued at USD 49.6 million in 2017, as a result of the presence of favorable reimbursement scenario for CRRT. Additionally, high income level and healthcare expenditures will prove beneficial for the CRRT market growth. Moreover, development of public healthcare system will ensure availability of superior quality CRRT devices in intensive care units of public healthcare facilities elevating the demand for CRRT.
Some of the eminent industry players operating in CRRT industry include Asahi Kasei Corporation, B.Braun Melsungen, Baxter International, Fresenius Medical Care, Infomed, Medica, Medical Components, Medites, Medtronic, Nikkiso, Nxtstage, Toray. Competitors adopt certain strategic decisions such as geographical expansions, new product launch and mergers that will ensure sustainable profits. For instance, in September 2013, Baxter acquired Gambro with an aim to broaden its renal product portfolio. This strategic initiative expanded company?s product offerings in CRRT market.
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Report Content
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Continuous Renal Replacement Therapy Industry Insights
Chapter 4. Continuous Renal Replacement Therapy Market, By Modality
Chapter 5. Continuous Renal Replacement Therapy Market, By Product
Chapter 6. Continuous Renal Replacement Therapy Market, By Therapy
Chapter 7. Continuous Renal Replacement Therapy Market, By Region
Chapter 8. Company Profiles
8.1. Asahi Kasei Corporation
8.2. B.BraunMelsungen
8.3. Baxter International Inc.
8.4. Fresenius Medical Care
8.5. Infomed
8.6. Medica
8.7. Medical Components
8.8. Medites
8.9. Medtronic
8.10. Nikkiso
8.11. Nxtstage
8.12. Toray
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