Pune, India, July 30, 2019 (GLOBE NEWSWIRE) -- 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 (2018-2023).
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.
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Competitive Landscape
The worldwide market is marked by the presence of a number of players that have gained international recognition. Marketers are competing on the basis of price as well as brand reinforcement. Well-known vendors incorporate collaboration, acquisition, expansion, technology launch, and partnership for gaining an edge over their rivals in the market.
Few of these well-known vendors in the global renal disease market are Fresenius Medical Care AG & Co. KGaA, AstraZeneca and Keryx Biopharmaceuticals, Inc. among others.
Industry Opportunities
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.
Market Segmentation
The worldwide Renal Disease Market has been segmented on the basis of disease type, treatment type, and end-user.
The global renal disease market, depending on the disease type, has been considered for chronic kidney disease and end-stage renal diseases (ESRD). Between these, the chronic kidney disease segment had reached the valuation of USD 60,228.68 million in 2017. The market for chronic kidney disease will have a profitable run in the near future based on the high technological advancements that are giving rise to numerous drugs. This factor is deemed to allow the clinicians to offer proper assistance to patients suffering from chronic kidney disease.
The renal disease market, treatment-wise, can be broken down into dialysis, medications, and kidney transplantation. The medications segment covers the largest share in the market, with the increasing inclination for nonspecific medication among buyers combined with the intensifying rivalry from biosimilars due to patent expiry.
The end users that are part of the global renal disease market are dialysis centers, hospitals & clinics, and research and academic institutes.
Browse the market data and information spread across 148 pages with data tables and figures of the report “Renal Disease Market Research Report - Forecast to 2023” in depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/renal-disease-market-3167
Regional Outlook
The region-based segments of the renal disease market include Asia Pacific, Europe, Middle East & Africa and the Americas.
The Americas covers the maximum share of the global renal disease market. The stupendous performance of the regional market is the result of the rising prevalence of renal diseases, particularly among elderly people. Moreover, the availability of sophisticated healthcare facilities within the region has brought in excellent revenues in recent years. Also, the regional companies are stressing on conducting more research and development (R&D) and developing new products. These factors will also be supplemented by the growth in funding, which will help the region maintain its top position throughout the evaluation period.
Europe has demonstrated optimistic growth over the past couple of years, backed by high healthcare spending and the boost in the awareness levels pertaining to renal diseases. Apart from this, rising recommendations for dialysis by the government, along with the burgeoning geriatric population in the region is poised to further elevate the market position.
The market development in Asia Pacific is estimated to be the fastest in the worldwide market. The expansion of the third-party pharmaceutical companies in India, China, and Singapore has a big hand in the market growth. As per analysis, in 2017, Australia accounted for 11.8% of the total market in Asia Pacific. Additionally, the massive revenue generating opportunities present in the regional market is attracting numerous new entrants.
The Middle East and Africa region is growing at a consistent rate as the prevalence of renal diseases in the region has risen in the past few years and is expected to grow in the coming years as well.
Industry Update
February 2019
Fresenius has recently acquired NxStage Medical Inc., a company known for developing, producing and marketing a variety of innovative medical devices used in home dialysis as well as critical care.
June 2019
Novartis recently revealed an early-stage histology data pertaining to kidney transplants. The data says that Novartis’ iscalimab (CFZ533) has the ability to extend the lifespan of kidney transplants. Iscalimab is a fully human, monoclonal antibody that prevents the cluster of differentiation 40 (CD40) pathway signaling and activation of CD40+ cell types
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