Global Renal Disease Market: Snapshot
The data analysts at Market Research Future (MRFR) expect the global renal disease market to attain the valuation of USD 93,375.70 million by 2023. They also predict that the market will achieve a CAGR of 6.32% during the forecast period (2017-2023).
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Renal diseases are divided into chronic kidney disease (CKD) and end-stage renal disease (ESRD). These types of diseases could lead to kidney failure. As CKD worsens, the patient eventually suffers from ESRD. As estimated by the National Institute of Diabetes and Digestive and Kidney Diseases, over 6,61,000 Americans were suffering from kidney failure in 2015.
Therefore, the growing prevalence of kidney diseases the world over is considered to be the prime reason for the lucrative performance of the market. Besides, rising cases of hypertension, diabetes, coupled with the quickly expanding geriatric population, has worked in favor of the global renal disease market. Having said that, the high healthcare costs could slow down the market growth rate in the years ahead. Nevertheless, the presence of various growth opportunities will ensure that the market has a smooth run during the review period.
Global Renal Disease Market: Competitive Analysis
MRFR in its report mentioned some of the prominent companies operating in the Global Renal Disease Market namely
- Amgen Inc. (US)
- Bristol-Myers Squibb Company (US)
- Fresenius Medical Care AG & Co. KGaA (Germany)
- Keryx Biopharmaceuticals, Inc. (US)
- Novartis AG (Switzerland)
- Sanofi S. A. (France)
- Abbott (US)
- Teva Pharmaceutical Industries Ltd (Israel)
- AstraZeneca (US)
- GlaxoSmithKline PLC (UK)
- Hoffmann-La Roche Ltd (Switzerland)
- Pfizer Inc. (US)
- Kissei Pharmaceutical Co., Ltd (Japan)
The latest studies report that urolithiasis has been the most prevalent kidney disease in the past couple of decades, in developed as well as developing nations. This rise in trend is perceived to be the result of the lifestyle modifications across the globe, including lack of physical activity and dietary habits.
With the rise in urolithiasis cases, the industry participants will benefit from the spate of opportunities by developing medications and drugs for its treatment. The demand for drugs to treat this disease is expected to increase in the coming years, thus, expanding the global market size.
Global Renal Disease Market: Segmental Overview
A comprehensive segmental analysis of the Global Renal Disease Market is available in MRFR’s report. The segment analysis covers disease types, treatment types, and end uses.
By disease type, the market has been segmented into end-stage renal diseases (ESRD) and chronic kidney disease. The chronic kidney disease segment holds a significant share of the market in terms of revenue. In 2017, the segment commanded more than USD 60,200 Mn and is expected to highly attractive during the forecast period. By treatment type, the market has been segmented into kidney transplantation, medication, and dialysis. Based on end user, the market has been segmented into research and academic institutes, hospitals & clinics, and dialysis centers.
Global Renal Disease Market: Regional Segmentation
The Renal Disease Market has been assessed across Europe, North America, South America, Asia Pacific (APAC) and the Middle East & Africa (MEA). In terms of revenue, South America and North America collectively account for the largest market share. Kidney disorder incidences have spiralled upwards in the region, which is a prime factor driving the growth of the Americas renal disease market. Moreover, high healthcare expenditure and presence effective reimbursement policies also makes a positive impact on the region’s market.
The market in Europe has also exhibited a sound growth in recent years. This can be linked with factors such as growing geriatric population, high level of awareness, strong healthcare penetration, favourable government polices among others.
Market players are expected to find lucrative opportunities in Asia Pacific. It is projected that the APAC Renal Disease Market is likely to witness a strong growth during the forecast period. In recent years, there has been a significant rise in number of third-party pharmaceutical companies in countries such as India, China and Singapore, which has favoured the market growth in the region.
- Pharmaceutical companies
- Contract research manufacturing organizations
- Research & development organizations
- Academic institutes
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