Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Nephrology Drugs Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global nephrology drugs market has grown strongly in recent years. It will grow from $16.18 billion in 2023 to $17.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. North America was the largest region in the nephrology drug market in 2023. Europe was the second-largest growing region in the nephrology drug market in 2023.
Historical growth can be attributed to several factors, including the increasing prevalence of chronic kidney diseases (CKD), advancements in drug development, greater awareness and improved diagnosis, government initiatives and healthcare policies supporting kidney care, and the rising incidence of diabetes, a significant contributing factor to CKD.
The nephrology drugs market is expected to see strong growth in the next few years. It will grow to $21.53 billion in 2028 at a compound annual growth rate (CAGR) of 6%. Anticipated growth in the upcoming period is linked to emerging therapies and innovative drug developments in nephrology, the adoption of precision medicine and personalized treatment approaches, a steady increase in healthcare expenditure, the rise of telehealth and remote patient monitoring, and global health initiatives focused on kidney care.
The expanding prevalence of chronic kidney disease is anticipated to drive growth in the nephrology drugs market. Notably, reports from the Centers for Disease Control and Prevention in July 2022 estimated over 37 million diagnosed cases of chronic kidney disease in the US, primarily affecting individuals aged 65 or older. Similarly, the Kidney Foundation of Canada reported 4 million Canadians grappling with kidney diseases, with diabetes being a prominent contributor to kidney failure, a trend expected to rise further.
The rising incidence of diabetes and hypertension is set to propel the nephrology drug market forward. Notably, the World Health Organization's June 2022 data registered over 2.5 million hypertension patients across 15,000 health institutions, while the Centers for Disease Control's 2022 report identified an estimated 37.3 million global cases of diabetes. Consequently, the prevalence of diabetes and hypertension drives the demand for nephrology drugs due to their association with kidney issues.
Product innovation stands as a prominent trend shaping the nephrology drug market. Key industry players are actively introducing novel drugs and solutions to maintain market relevance. For instance, in March 2022, Zydus Lifesciences Limited launched Oxemia (desidustat), an oral medication for chronic kidney disease. This innovative small-molecule hypoxia-inducible factor-prolyl hydroxylase (HIF-PH) inhibitor has shown promise in Phase III trials, exhibiting positive safety profiles and beneficial effects on anemia, iron mobilization, and LDL-C reduction in CKD patients. Additionally, this innovation is positioned to alleviate the disease burden by providing cost-effective treatment and enhancing patients' quality of life.
Major companies in the nephrology drugs market prioritize obtaining approvals for innovative products, such as the US Food and Drug Administration's approval of Jardiance (empagliflozin). This medication, belonging to the SGLT-2 family for type 2 diabetes, enhances glucose excretion via the kidneys. In January 2023, Eli Lilly and Company, in collaboration with Boehringer Ingelheim, announced FDA approval of Jardiance tablets. These tablets are being investigated as a potential treatment to reduce the risk of advancing kidney disease and cardiovascular death in adults with chronic kidney disease, signifying a concerted effort among pharmaceutical giants to address evolving consumer needs through innovation and regulatory milestones.
In December 2021, CSL Behring AG, a pharmaceutical company based in Switzerland, completed the acquisition of Vifor Pharma AG for $11.7 billion. This strategic move significantly broadens CSL Behring AG's product portfolio, bringing in a comprehensive line of nephrology products that effectively tackle various conditions, including iron deficiency. Vifor Pharma AG, renowned for its global presence and focus on developing solutions for dialysis and nephrology, aligns seamlessly with CSL Behring AG's goals for expansion, diversification, and product enrichment.
Report Scope
Markets Covered:
1) By Drugs: Antihypertensive Agents; Erythropoiesis-Stimulating Agents; Diuretics; ACE Inhibitors; Antidiabetic Agents; Other Drugs
2) By Route of Administration: Oral; Parenteral; Other Route Of Administration
3) By Distribution Channel: Hospital Pharmacy; Online Pharmacy; Retail Pharmacy
4) By End User: Hospitals; Homecare; Specialty Clinics; Other End Users
Key Companies Mentioned: AstraZeneca plc; AbbVie Inc.; Akebia Therapeutics Inc.; Amgen Inc.; F. Hoffmann-La Roche AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
A selection of companies mentioned in this report includes:
- AstraZeneca plc
- AbbVie Inc.
- Akebia Therapeutics Inc.
- Amgen Inc.
- F. Hoffmann-La Roche AG
- FibroGen Inc.
- Johnson And Johnson
- Pfizer Inc.
- GlaxoSmithKline plc
- Teva Pharmaceutical Industries Limited
- Boehringer Ingelheim International GmbH
- Reata Pharmaceuticals Inc.
- Ardelyx Inc.
- Novo Nordisk A/S
- Novartis AG
- Baxter International Inc.
- Bristol Myers Squibb Company
- Kissei Pharmaceutical Co. Ltd.
- Kyowa Kirin Co. Ltd.
- Mallinckrodt Pharmaceuticals
- OPKO Health Inc.
- Sanofi S.A.
- Takeda Pharmaceutical Company Limited
- Vifor Pharma Group
- Bayer AG
- Amicus Therapeutics
- Chugai Pharmaceutical Co. Ltd.
- Otsuka Pharmaceutical Co. Ltd.
- Mylan N.V.
- Endo Pharmaceuticals plc
For more information about this report visit https://www.researchandmarkets.com/r/7qd6v0
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