DUBLIN–(BUSINESS WIRE)–The “Global Renal Replacement Therapy Market Research and Forecast, 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
The global renal replacement therapy market is growing at a considerable CAGR of around 7.3% during the forecast period.
Companies Mentioned
- AngioDynamics
- Asahi Kasei Corp.
- B. Braun Melsungen AG
- Baxter.
- C. R. Bard, Inc.
- Cantel Medical.
- CryoLife, Inc.
- DaVita Inc.
- Diaverum Corporate
- Fresenius Medical Care AG & Co.
- Hebei Ziweishan Pharmaceutical Co., Ltd.
- Isopure Corp.
- JMS Co., Ltd.
- Kawasumi Laboratories, Inc.
- Medical, Inc.
- Medtronic PLC
- Nikkiso Co. Ltd.
- NxStage Medical, Inc
- Renacon Pharma Ltd.
The key factors that drive the market growth include, increasing Incidence of Acute kidney injury (AKI) across the globe, the growing number of ICU Patients is projected to enhance the market growth, increasing incidence of Sepsis, and Increasing technological advancement also acts as a market driver.
Additionally, the increasing prevalence of chronic disease is expected to drive the growth of the renal replacement therapy market. Renal replacement therapy is being generally used in modern intensive precaution settings. Diagnosing, and dealing with critically ill patients having renal dysfunction is a part of the daily routine of an intensivist.
Renal replacement therapy plays an important role in ICU in the treatment of patients having renal failure, acute as well as chronic, and it has spread its domains to the treatment of many other disease conditions, such as myasthenia gravis, septic shock, and acute-on-chronic liver failure.
For instance, in August 2020, Baxter International Inc. received (EUAs) Emergency use authorization approval from the US (FDA) Food and Drug Administration for the company’s HF20 Set and ST Set used in continuous renal replacement therapy (CRRT). The HF20 Set is approved to provide continuous renal replacement therapy to treat patients having low weight (8-20 kg) and low blood volume who cannot tolerate a larger extracorporeal circuit volume in an acute care environment through the COVID-19 pandemic.
However, the high cost of renal replacement therapy procedures is expected to restrain the market growth in the forecasted period. Due to the better result of renal replacement therapy, and increasing life expectations the costs of dialysis care are high and will rise rapidly. The dialysis population across the globe is increasing rapidly mainly in developing countries. Additionally, Strict regulatory guidelines for continuous renal replacement therapy, and the Lack of skilled professionals to perform constant renal replacement therapy are hampering the growth of the renal replacement therapy market.
Segmental Outlook
The market is segmented based on therapy type and end-user. Based on therapy, the market is segmented into dialysis, hemodialysis, and peritoneal dialysis. On the basis of end-user, the market is segmented into hospitals & clinics and research institutes.
The Dialysis Segment is projected to hold a significant market share in the global renal replacement therapy market
Based on the therapy, peritoneal dialysis (PD) cleans the blood inside the patient body. The lining of the abdomen in a patient body acts as a natural filter. Peritoneal dialysis is a home-based treatment and can be done at home, at work, at school, or even during travel due to, peritoneal dialysis may allow for greater flexibility.
The Peritoneal Dialysis segment has primarily driven the growth of the market due to Peritoneal Dialysis continues to be a preference in the treatment of end-stage renal disease (ESRD). Peritoneal dialysis has been proceeding in terms of technique, new exchange systems, and a new generation of solutions.
A survival advantage for PD patients has been noted over the first 1 – 2 years after the onset of the dialysis. Peritoneal Dialysis patients look more gratified in most of the studies that evaluate the quality of life during treatment as compared with hemodialysis(HD) patients.
Regional Outlooks
The global renal replacement therapy market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
North America is projected to hold a considerable share in 2020 in the global renal replacement therapy market. Some factors that are boosting the market growth in the region include increased demand with the presence of a large number of key market players.
The region has an increasing incidence of AKI due to the rapidly growing elder population. The region has a high utilization rate, and an increasing number of approvals for CRRT systems of (CRRT) continuous renal replacement therapy drives the growth of the renal replacement therapy market in the region.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global renal replacement therapy market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
For more information about this report visit https://www.researchandmarkets.com/r/e9eggh
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