Worldwide Chronic Kidney Disease Industry to 2026 - North America is Expected to Hold the Largest Market Share - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Chronic Kidney Disease Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Chronic Kidney Disease Market is expected to register a CAGR of 6.6 % during the forecast period.
- Abbott Laboratories
- AbbVie Inc.
- Amgen Inc.
- Bayer AG
- Beckman Coulter
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd
- GlaxoSmithKline Plc
- Merck & Co. Inc.
- Pfizer Inc.
- Seattle Genetic
- Siemens Healthineers
- Sysmex Corporation
- Teva Pharmaceutical Industries Ltd.
Key Market Trends
Blood Test Segment by Diagnosis is Expected to Witness a High Growth Over the Forecast Period
The major test for the diagnosis of kidney disease includes a blood test and it helps to understand how well kidneys are working. The blood test measures levels of a waste product called creatinine in the blood. The glomerular filtration rate (eGFR) is calculated to evaluate u milliliters of waste the kidney is able to filter in a minute.
Moreover, the demand for these tests is expected to increase as the incidence of CKD is high and growing in many parts of the world. The global prevalence of end-stage renal diseases (ESRD) is high and increasing at a significant rate. World Kidney Day, a joint initiative of the International Society of Nephrology (ISN) and the International Federation of Kidney Foundations (IFKF) in 2020, stated that currently around 850 million people worldwide suffer from kidney disorder and it is expected to become the 5th most common cause of years of life lost globally by 2040.
Additionally, As per a 2018 report by the L. Y. Wong et al., published in the International Journal of Nephrology, from 2007 to 2017, the prevalence of CKD increased from approximately 12% to 17% in Singapore and is further expected to increase to approximately 24% by 2035. Hence, owing to the rising prevalence of chronic kidney diseases the market is expected to witness high growth over the forecast period.
North America is Expected to Hold Largest Market Share over the Forecast Period
North America held the largest market share in previous years and is anticipated to do the same in the forecast period. The major factors driving the growth of the market in the United States are developed healthcare infrastructure and the increased government initiatives, which offer lucrative reimbursement policies in the country. According to the estimates of the American Cancer Society, it is estimated that, in 2020, there would be around 73,750 new cases of kidney cancer in the United States and approximately 14,830 deaths from this disease.
As per the same source, Kidney cancer is among the 10 most common cancers in both men and women. Overall, the lifetime risk for developing kidney cancer in men is about 1 in 46 (2.02%). The lifetime risk for women is about 1 in 82 (1.02%).
This indicates a big potential market demand for kidney disease diagnostics and therapeutics. Owing to the rapid increase in the incidence and prevalence of kidney diseases, the market in the United States is expected to grow, in the coming years. The market players are also focusing on the launch of new products in the market. For instance, in 2019, the U.S. Food and Drug Administration (FDA) has approved the Janssen Pharmaceutical's drug INVOKANA (Canagliflozin) to reduce the risk of end-stage kidney disease and cardiovascular events in patients with Type 2 diabetes and chronic kidney disease.
Also, in March 2020, the FDA has granted fast track designation for the investigation of the Boehringer Ingelheim and Eli Lilly Alliance's SGLT2 inhibitor empagliflozin to reduce the risks for renal disease progression and cardiovascular death in adults with chronic kidney disease, according to a press release from Boehringer Ingelheim and Eli Lilly. Thus, the presence of these market propelling factors in this region is anticipated to offer lucrative growth to the market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Incidence of Chronic Kidney Diseases
4.2.2 Technological Advancements in the Diagnostic Tests for Kidney Diseases
4.2.3 Rising Need of an Early Detection
4.3 Market Restraints
4.3.1 Use of Generic Products in Few Countries
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.2 By End User
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ynh4bq
Laura Wood, Senior Press Manager
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