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Moreover, presence of well-established key players focusing on developing and commercializing technologically advanced and initiatives undertaken by government to increase the awareness about CRRT are likely to propel the market growth during the forecast period.
Due to the pandemic, the demand for renal replacement fluids has increased significantly worldwide. The demand for RRT among patients with COVID-19 has increased fivefold in comparison to the historical US populations (4.9% as of 2020 VS. 0.9% earlier) (Source: American Society of Nephrology, 2021). According to an article published by the International Society of Nephrology 2020, countries such as China and Italy reported AKI rates as high as 29%.
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According to the International Society of Nephrology (INR), an estimated 13.3 million cases of AKI are registered annually worldwide. This is anticipated to boost the adoption of continuous renal replacement therapy at a rapid rate. With the rapid growth in the geriatric population globally, the prevalence of kidney-related diseases is expected to increase significantly.
As the population in emerging nations is price-sensitive, they prefer lower-priced products. Although the cost of CRRT in developing countries is high which makes these procedures are still unaffordable for a large portion of the population due to the low purchasing power. This limits the demand and uptake of CRRT in developing as well as developed countries.
The high growth rate of the CVVHDF segment can be attributed to its flexibility as compared to other CRRT modalities. The CVVHDF modality also combines the benefits of convection and diffusion for the removal of solutes, which is another major factor supporting its growth.
The prominent players operating in the global market include Baxter International Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), NIKKISO CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Asahi Kasei Corporation (Japan), Toray Medical Co., Ltd. (Japan), Infomed SA (Switzerland), Medtronic plc (Ireland), Medica S.p.A. (Italy), Medical Components, Inc. (US), Medites Pharma spol. s.r.o. (Czech Republic).