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Continuous Renal Replacement Therapy Market worth $2.1 billion by 2028

02-12-2024 01:06 PM CET | Health & Medicine

Press release from: MarketsandMarkets

Continuous Renal Replacement Therapy Market

Continuous Renal Replacement Therapy Market

Continuous Renal Replacement Therapy Market in terms of revenue was estimated to be worth $1.4 billion in 2023 and is poised to reach $2.1 billion by 2028, growing at a CAGR of 8.1% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The rise in the global incidence of Acute kidney Injury (AKI) and increase in the demand for effective renal replacement therapy among the patients who are critically ill or in ICU and growing initiatives by the government to increase the awareness about CRRT therapy along with the increase in technologically advancement of the CRRT system are anticipated to fuel the CRRT market growth during the forecast period.

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"Growing demand for dialysate to support the market growth during the forecast period."

The significant increase in the demand for CRRT in the treatment of hemodynamically unstable patients attributes to the rising of the CRRT market Moreover, the development and commercialization of novel renal replacement solutions are also some of the factors that support the market growth. Furthermore, many companies are expanding their dialysate product portfolios. For instance For instance, in August 2020, NIPRO CORPORATION acquired shares in dialysate MTN Neubrandenburg GmbH, which is involved in the manufacturing and sales of dialysates. Moreover, 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 CRRT market, globally"

The Coninuous renal replacement therapy market is segmented into five major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa.Asia Pacific attributes to the highest growth rate amongst the other regions, The emerging Asian countries, such as China, India, and Japan, are offering significant growth opportunities for market players. The expansion of healthcare infrastructure and increase in disposable incomes, increase incidences of acute kidney disease (AKI), diabetes, hypertension are factors which are likely to support the growth of CRRT market in the region.

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Continuous Renal Replacement Therapy Market Dynamics:

Drivers:

Increase in the prevalence of incidence of acute kidney injury (AKI)

Restraints:

High procedural cost of CRRT

Opportunities:

Emerging markets in APAC and RoW

Challenge:

Shortage of trained ICU professionals in developing nations
Key Market Players of Antibody Drug Conjugates Industry:

The key players in the continuous renal replacement therapy market Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US) and B. Braun Melsungen AG (Germany). These companies adopted strategies such as partnerships, acquisitions, and investments to strengthen their presence in the market

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Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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