This represents a CAGR of 7.7% during the forecast period. Several factors are responsible for this growth. Three key market drivers are highlighted below.
Albany, NY -- (SBWIRE) -- 09/18/2017 -- "Global continuous renal replacement therapy market "is poised to grow from almost US$ 743 Mn in 2016 to about US$ 1,656 Mn by 2027 end. This represents a CAGR of 7.7% during the forecast period. Several factors are responsible for this growth. Three key market drivers are highlighted below.
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Product innovation and a wide product portfolio drives market growth
Strong global demand driven by an increasing dialysis patient population and rise in cases of acute kidney injuries creates synergies and broader market opportunities. Fresenius Medical Care AG & Co. KGaA, the world's largest provider of dialysis products and services, has launched multi-FiltratePRO, a therapy system for continuous renal replacement therapy (CRRT), for the treatment of acute kidney failure in critically ill patients at intensive care units. Core positions in home hemodialysis and CRRT provide a platform for sustainable growth and investing to capitalize on the potential of next $1B+ businesses in home HD and acute care.
High prevalence of Chronic Kidney disease (CKD) worldwide
Chronic Kidney Disease (CKD) is a major risk multiplier for cardiovascular disease, diabetes, hypertension, and inflammatory disease of the kidney (glomerulonephritis). CKD may lead to kidney injury and sometimes to complete loss of kidney function, thus necessitating renal replacement therapy. World Kidney Day, a global awareness campaign estimated that 10% of the worldwide population is affected by CKD. CKD stood 18th in the global list of causes of total number of deaths in 2010 according to Global Burden Study. CKD leads to end stage renal disease (ESRD) if untreated. According to the National Kidney Foundation, about 468,000 ESRD patients were on dialysis in the U.S. in 2015. Dialysis being the most easily available treatment for kidney disease coupled with a high global prevalence of CKD are major factors driving the dialysis equipment market.
Entry of Multi-functional Continuous Renal Replacement Therapy and changes in the healthcare industry could drive up revenue growth of the market
In conventional dialysis systems every parameter is set manually and controlled by the user or caregiver. Technological advancements in currently available continuous renal replacement machines allow the management of disease parameters automatically. Most of the problems are directly handled by the automated digital machines, which is otherwise not possible in conventional systems, thus reducing the labour cost. Manufacturers are focussing on developing fully automated, portable and technologically sound dialysis equipment to provide better and vast options for users of all ages. Several measures have been taken to improve the efficiency of continuous renal replacement therapy devices, including the introduction and use of high-flux and high-efficiency membranes, which has been possible due to technological advances in polymer chemistry and membrane development.
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Healthcare laws and regulations may affect market growth adversely
Healthcare companies are susceptible to a changing regulatory environment and are subject to a number of laws and regulations, non-compliance with which could adversely affect their business. The impact of healthcare laws on companies is direct to the extent companies are subject to these laws and regulations; and indirect in that in a number of situations, even though the company may not be directly regulated by specific healthcare laws and regulations, the company's products must be capable of being used by customers in a manner that complies with those laws and regulations. The complexity of healthcare laws may have an adverse impact on the revenue growth of the global continuous renal replacement therapy market.North America is projected to dominate the global Continuous Renal Replacement Therapy (CRRT) Market in revenue terms in 2017 and this trend will continue into the next 10 years. The North America market is the most attractive region, recording an attractiveness index of 1.8 during the forecast period. North America is estimated to account for 26.0% value share in the CRRT market in 2017. However, the North America CRRT market is predicted to lose 8 BPS in its market share by 2027 over 2017, owing to efforts taken by the government and CRRT equipment manufacturers to expand dialysis products and services to other emerging regions of the globe. Western Europe is expected to be the second most lucrative region in the global CRRT market, with an attractiveness index of 1.5 during the forecast period. Western Europe is likely to hold 20.7% value share in the CRRT market in 2017.
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