Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Chronic Kidney Disease Market Analysis & Forecast 2024-2034: Market by Product (Diagnosis, Treatment; by Route of Administration; by End-user; and by Region" report has been added to ResearchAndMarkets.com's offering.
The global chronic kidney disease (CKD) market is poised for a significant upswing, with projections estimating growth from USD 34.63 billion in 2023 to a remarkable USD 70.82 billion by 2034. This anticipated growth, at a steady compound annual growth rate (CAGR) of 6.72% during the forecast period of 2024-2034, is fueled by an array of contributing factors.
A marked increase in the prevalence of CKD globally stands as a primary growth determinant. Technological strides in diagnostic modalities and an escalated pace in the development of advanced therapeutics are also pivotal in propelling the market forward. With heightened emphasis on early detection to curtail the progressive nature of CKD, initiatives by government bodies and healthcare organizations have augmented awareness and accessibility to treatment and diagnostic options, further bolstering market growth.
In the innovational landscape, the advent of cutting-edge tools is set to revolutionize CKD management. For example, the introduction of Nova Max Pro Creatinine/eGFR Meter System by Nova Biomedical has streamlined kidney function screening, leading to an upsurge in early disease identification practices.
Product-Wise Growth Trajectory
Within the product segmentation, the diagnosis sector claimed the lion's share of revenue in 2023. This supremacy can be attributed to the surging prevalence of CKD and escalation in demand for sophisticated diagnostics tools. In contrast, the treatment segment is forecasted to register the swiftest CAGR through 2034, as an outcome of escalated research and development endeavors and frequent regulatory approvals.
Administration Routes in Focus
Amidst the routes of administration, oral delivery stood out in 2023, in part due to strides made in the medical field favoring self-medication and the green light given by regulatory entities to novel drugs. Intravenous delivery, however, is anticipated to carve the path for the fastest CAGR in the approaching years, thanks to the rising incidence of CKD and enhancements in drug delivery systems.
End-Use Landscape
Hospitals emerged as the main end-user revenue-generator, a status supported by a burgeoning count of hospital facilities, a high patient influx with CKD, and regular introductions of novel therapeutic agents within the sector. Diagnostic laboratories take precedence as the segment predicted to expand most rapidly during the forecast period, driven by the increased necessity for state-of-the-art diagnostic devices and healthcare infrastructure investments.
Regional Market Dynamics
Europe is positioned to retain the largest revenue portion throughout the forecast timeline, largely influenced by the escalating number of CKD cases, enhanced healthcare structures, and rising sanction of advanced diagnostic tests. In parallel, the Asia Pacific region is accounted to witness the most accelerated CAGR, owing to intensified government awareness campaigns, ongoing R&D ventures, expanding demand for high-caliber diagnostics, and pioneering treatment options.
Market Segmentation Overview
- Chronic Kidney Disease Market Analysis & Forecast by Product – Diagnosis (Imaging Tests, Urine Tests, Blood Tests, Others), Treatment (Dialysis, Drugs)
- Market Analysis & Forecast by Route of Administration – Oral, Intravenous, Subcutaneous
- Market Analysis & Forecast by End-user – Diagnostic Laboratories, Hospitals
- Market Analysis & Forecast by Region – North America, Europe, Asia Pacific, Latin America, Middle East & Africa
With this unwavering growth trajectory, the global chronic kidney disease market is a dynamic landscape filled with opportunities and innovations, directly impacting the lives of millions suffering from CKD worldwide.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $34.63 Billion |
| Forecasted Market Value (USD) by 2034 | $70.82 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Companies Mentioned
- B. Braun SE
- AbbVie Inc.
- Teva Pharmaceutical Industries Ltd.
- AstraZeneca plc
- Fresenius SE and Co. KGaA
- Baxter International Inc.
- Johnson & Johnson
- Pfizer Inc.
- F. Hoffmann-La Roche Ltd.
- Becton, Dickinson and Company
For more information about this report visit https://www.researchandmarkets.com/r/eluyvz
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