New York, USA, March 23, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global nephrology drugs market is estimated to garner $21,454.5 million in revenue and rise at a CAGR of 6.0% throughout the estimated period from 2021-to 2028.
As per our analysts, with the increasing cases of kidney diseases such as kidney fibrosis and kidney failure among millennial worldwide because of lifestyle changes, the market is expected to experience significant growth over the forecast period. Besides, the increasing geriatric population across the world is further expected to foster the growth of the nephrology drugs market during the analysis timeframe. Moreover, the increasing development in the existing nephrology drugs products and the continuous launching of new products are expected to create huge growth opportunities for the market during the estimated period. However, the high cost of nephrology drugs may hinder the growth of the market over the analysis timeframe.
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Segments of the Market
The report has been divided the nephrology drugs market into segments based on type, route of administration, distribution channel, and region.
Type: ACE Inhibitor Sub-Segment to be Most Productive
The ACE inhibitor nephrology drugs sub-segment is predicted to generate a revenue of $8,581.8 million during the forecast period. The rapid growth in the ACE inhibitor drugs prescribed by the healthcare professionals for the treatment of various chronic diseases such as kidney diseases, heart failure, and many more, is the factor expected to bolster the growth of the nephrology drugs market sub-segment during the analysis period.
Route of Administration: Oral Sub-Segment to be Most Lucrative
The oral sub-segment is predicted to garner a revenue of $14,052.7 million throughout the estimated period. This is mainly because oral drugs provide a non-invasive route of administration for patients, especially for old-aged people. In addition, the growing number of kidney diseases with age is projected to fuel the growth of the nephrology drugs market sub-segment during the forecast period.
Distribution Channel: Hospital Pharmacies Sub-Segment to be Most Profitable
The hospital pharmacies sub-segment is expected to generate $11,049.0 million in revenue during the estimated period. This is mainly due to the growing number of patients’ hospital visits with chronic kidney diseases. Furthermore, the rising convenience among millennial to purchase prescribed nephrology drugs from hospital pharmacies is predicted to propel the growth of the market sub-segment over the analysis period.
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Region: North America Region to Have the Maximum Share of Market
The North America region of the nephrology drugs market is anticipated to generate a revenue of $8,581.8 million throughout the estimated timeframe. This is mainly because of the strong presence of huge pharmaceutical companies in this region. In addition, the increasing prevalence of chronic kidney diseases among millennial due to the decreased immunity during aging in this region is expected to drive the regional growth throughout the forecast timeframe.
Covid-19 Impact on the Market
With the wake of the Covid-19 pandemic, likewise, various other industries, the nephrology drugs market has also had a negative impact. This is mainly because patients have purposefully delayed their regular hospital visits and consultation with the fear of coronavirus transmission. Furthermore, the pharmaceutical industries have minimized the rate of manufacturing of nephrology drugs and have given more importance to the production of coronavirus vaccines. These factors have declined the growth of the market during the period of pandemics.
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Key Players of the Market
The major nephrology drugs market of the market include
- F. Hoffmann-La Roche
- FibroGen Inc.
- Amgen Inc.
- GlaxoSmithkline PLC.
- Akebia Therapeutics, Inc.
- Johnson & Johnson Inc.
- AbbVie Inc.
- Pfizer Inc.
- AstraZeneca
- Teva Pharmaceutical Industries Limited
These players are broadly working on the development of new business strategies and tactics such as product development, mergers and acquisitions, and partnerships and collaborations to attain leading positions in the global industry.
For instance, in July 2021, AbbVie Inc., a renowned American publicly traded biopharmaceutical company, announced its collaboration with Calico, a leading research and development company in the field of biology. With this collaboration, the companies are aiming to develop new therapies for patients suffering from age-related chronic diseases such as kidney failure, heart disorders, neurodegeneration, cancer, etc.
Further, the report also summarizes other crucial aspects including SWOT analysis, the financial performance of the key players, product development, and the latest strategic developments.
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Analyst Review: https://www.researchdive.com/8572/Anlyst-Review/nephrology-drugs-market
