Global Hyperkalemia Drugs Market to Post 20% CAGR Through 2023| Technavio
Technavio analysts forecast the global hyperkalemia drugs market to grow at a CAGR of over 20% during the period 2019-2023, according to their latest market research report.
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Technavio has released a new market research report on the global Hyperkalemia drugs market for the period 2019-2023. (Graphic: Business Wire)
Strategic alliances is one of the major trends being witnessed in the global hyperkalemia drugs market 2019-2023. The global hyperkalemia drugs market has only a limited number of approved therapies, due to which a huge unmet need is present in the market. Therefore, through various strategic initiatives, the market players are trying to increase their customer reach. The market has witnessed an increasing number of strategic alliances, as the companies are entering into collaborative deals to increase their distribution network in new geographies and to cut down the research and development (R&D) costs associated with the drugs.
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According to Technavio analysts, one of the key factors contributing to the growth of the global hyperkalemia drugs market is the growing use of various therapeutics:
Global hyperkalemia drugs market: Growing use of various therapeutics
The increasing use of drugs such as renin-angiotensin-aldosterone system (RAAS) inhibitors, ace-inhibitors, beta-blockers, nonsteroidal anti-inflammatory drugs (NSAIDs), cyclosporine, and heparin for the treatment of various indications increases the risk of hyperkalemia. The usage of these medications is associated with various side effects, which include a decrease in potassium excretion levels. NSAIDs are one of the major drugs that increase the risk of hyperkalemia and chronic kidney diseases. These are the most commonly prescribed medications and are largely available over-the-counter (OTC). As a result, the market has witnessed a significant increase in the use of these drugs for the treatment of various indications.
According to a senior analyst at Technavio for research on pharmaceuticals, “The market has also witnessed a significant rise in the use of RAAS inhibitors due to the high efficacy displayed by these drugs for the treatment of hypertension, cardiovascular diseases, and renal diseases. However, the use of RAAS inhibitors increases the risk of hyperkalemia. As per a study conducted by the University of Maryland School of Medicine, the risk of RAAS inhibitors induced hyperkalemia is high in patients with chronic kidney diseases and heart failure. Hence, during the forecast period, the increasing use of these medications is expected to drive the growth of the market significantly.”
Global hyperkalemia drugs market: Segmentation analysis
The global hyperkalemia drugs market research report provides market segmentation by type (chronic hyperkalemia and acute hyperkalemia) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The chronic hyperkalemia segment held the largest market share in 2018, accounting for nearly 84% of the market. This type segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of over 43%. This region is expected to dominate the market through 2023, however, there will be a decrease in its market share.
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Five Forces Analysis
- Regional comparison
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- Vendors covered
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