Chronic Kidney Disease Drugs Market | Calcium Channel Blockers to Remain Market Leader Supported by Strong Demand

The global chronic kidney disease drugs market is largely fragmented, states a research report by Transparency Market Research (TMR). The top four players, namely Sanofi S.A., Pfizer Inc., Amgen Inc., and AbbVie Inc., accounted for a share of only 41.4% in this market in 2015.

The prominent players in this market are focusing aggressively on mergers, acquisitions, and strategic alliances to expand their product portfolio, which is likely to lead to market consolidation in the next few years, reports the research study.

According to the report’s estimations, The global Chronic Kidney Disease Drugs Market was worth US$11.5 bn in 2015. Proliferating at a 3.60% CAGR during the period from 2016 to 2024, the overall opportunity in this market is anticipated to increase to US$15.8 bn by the end of the forecast period. Hospitals have surfaced as the key end users of chronic kidney disease drugs and are projected to remain so over the next few years.

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The report states that the worldwide market for chronic kidney disease drugs is spread across Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. In 2015, North America dominated this market with a share of 31.8%. Researchers predict this regional market to retain its position over the forecast period, thanks to the high adoption rate of advanced technology products and the presence of a state-of-art medical and healthcare industry. The rising prevalence of diabetes and the alarming growth in the obese population are also expected to drive this regional market in the years to come.

On the other hand, Europe, which stood second in 2015, is likely to offer the most promising growth opportunities to market players over the next few years on the grounds of the rising pool of patients suffering from kidney cancer in Europe. The growing uptake of high quality and expensive treatments for these diseases in this region are also projected to boost the market for kidney disease drugs in Europe in the near future, states the market study.

Chronic Kidney Disease Drugs Market: Need to Address Rising Health Issues to Accelerate Sales

The global market for chronic kidney disease drugs continues to proliferate at a significant pace, driven by the increasing number of chronic kidney disease patients and the growing need of novel treatments to improve patients’ quality of life. The increasing number of elderly people, who are more vulnerable to various diseases due to poor immunity, such as cardiovascular disorders, diabetes, and neurological conditions, is another important factor behind the growth of this market, as, owing to this, the prevalence of these diseases is rising considerably across the world.

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Going forward, the market is projected to be propelled substantially in the near future by the technological advancements, leading to the development of a wide array of drugs, which will enable clinicians to provide proper assistance to chronic kidney disease patients. The global chronic kidney disease drugs market stood at US$11.5 bn in 2015. Burgeoning at a CAGR of 3.60% between 2016 and 2024, the market’s opportunity is expected to reach US$15.8 bn by the end of 2024.

Drug Advancements to Bolster Growth in Market in Years Ahead

“The huge ascent in the pool of patients experiencing chronic kidney diseases and the developing interest for new and propelled medicines to expand their life span are majorly affecting the interest for chronic kidney disease drugs over the world,” states a specialist at TMR. A different imperative dynamics improving this market is the growing number of ageing individuals, inclined to an assortment of diseases, for example, diabetes cardiovascular scatters, and a few neurological conditions, because of their poor invulnerability. As these ailments influence the kidney extremely, the odds of elderly individuals to indenture chronic kidney illnesses are substantially higher, which in the long run, considers the interest for chronic kidney disease drugs.

Substitutes to Inhibit Market Growth in Long Run

Over the years ahead, the developments and mechanical headways in these drugs, empowering clinicians to provide legitimate help to the patients, are probably going to support this market astoundingly. Be that as it may, the expanding inclination for nonspecific medication variations among buyers and the strengthening rivalry from biosimilars because of patent misfortune may limit the development of this market soon, takes note of the examination ponder.

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