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Continuous Renal Replacement Therapy Market Worth USD 1,811.5 Millionat 8.0 % CAGR: Rising Cases of Diabetes and other Chronic Diseases to Augment Growth

The global “continuous renal replacement therapymarket”size is expected to gain momentum and reach USD 1,811.5 million by 2027 on account of the increasing prevalence of chronic diseases such as diabetes that leads to kidney issues. A published report by Fortune Business Insights titled, “Continuous Renal Replacement Therapy Market Size, Share & COVID-19 Impact Analysis, By Product Type (Systems, and Consumables), By Modality (Slow continuous ultrafiltration, Continuous Venovenous Hemofiltration, Continuous VenovenousHemodialysis, and Continuous Venovenous Hemodiafiltration, and Regional Forecast, 2020-2027,” states that the value of this market was USD 986.4 million in the year 2019 and will exhibit a CAGR of 8.0% between 2020 and 2027.

Drivers & Restraints-

Increasing Prevalence of Acute Kidney Injury to Propel Growth

Some of the factors promoting the continuous renal replacement therapy market growth include the increasing prevalence of chronic diseases such as diabetes, hypertension, and others that ultimately leads to kidney disorders. In addition to this, the rise in geriatric population and the increasing cases of acute kidney problems are likely to add impetus to the market in the coming years. Moreover, the rise in coronavirus positive cases mostly among the geriatric population and the rising rate of kidney cases among severely ill patients are likely to augment demand for continuous renal replacement therapy in the forthcoming years.

However, the stringent regulations imposed by the Food and Drug Administration on the approval of various products may pose a serious challenge to the market in the coming years. Nevertheless, the advent of medical technologies and rising investments in research and development of novel therapeutics are likely to create lucrative opportunities for the CRRT market in the coming years.

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Segmentation-

Consumables Segment is Overpowering Market with Increasing Application of Hemofilter

In 2019, the consumable products segment earned the highest CRRT market share on account of the increasing application of consumables such as fluids, hemofilter, and charcoal filters among others. However, the increasing prevalence of acute kidney injuries are likely to help the systems segment witness steady growth in the coming years.

Competitive Landscape-

Companies Engaging in Geographical Expansion to Gain Competitive Edge

The nature of the CRRT market is monopolistic on account of the dominance of Baxter International Inc. Some of the companies operating in this market are engaging in improving their portfolio by investing on latest innovations and new devices. The other players are engaging in joint ventures, contracts and agreements, and other collaborative efforts to gain a significant position in the market competition.

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