Global Hydronephrosis Therapies Market 2019-2023 | High Prevalence of Kidney Diseases Impacting the Market Growth | Technavio
The global hydronephrosis therapies market 2019-2023 is expected to post a CAGR of more than 9% during the forecast period, according to the latest market research report by Technavio.
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Technavio predicts the global hydronephrosis therapies market to post a CAGR of more than 9% by 2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the high prevalence of kidney diseases. Hydronephrosis is caused by kidney diseases such as UTIs, CKD, and kidney stones. CKD is the most common type of kidney disease which causes inflammation and swelling of the kidney. According to the CDC, around 30 million people or 15% of the US adults are estimated to have CKD and 48% of those with severely reduced kidney function but not on dialysis are not aware of having CKD. Thus, the increase in the prevalence of the kidney diseases results in the growing prevalence of hydronephrosis.
This market research report on the global hydronephrosis therapies market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing awareness of kidney diseases as one of the key emerging trends in the global hydronephrosis therapies market:
Global hydronephrosis therapies market: Increasing awareness of kidney diseases
Kidney diseases are the major causes of hydronephrosis. However, early-stage kidney disease is typically asymptomatic and may not notice any symptoms, which, in turn, leads to low levels of awareness in people with CKD. Thus, with the aim of addressing this issue, various government and non-government organizations are launching various awareness programs which is driving the market.
“In 2006, the CDC established the CKD initiative to raise the awareness and making collaborations with universities for the management of kidney diseases. The increase in number of these initiatives will drive the global hydronephrosis therapies market,” says a senior analyst at Technavio for research on infectious and rare diseases.
Global hydronephrosis therapies market: Segmentation analysis
This market research report segments the global hydronephrosis therapies market by product (antibiotic therapy and other therapies) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of more than 42%, followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the factors such as the rising geriatric population and recent approvals for the treatment of UTIs.
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Five Forces Analysis
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