Rockville, MD, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Treatment for renal anemia, a chronic condition also known as anemia of chronic kidney disease, primarily focuses on enhancing red blood cell production. Popular medications such as epoetin are extensively used in renal anemia treatment procedures. Growing health consciousness among individuals worldwide has benefited the market for renal anemia medications as well. The global renal anemia treatment market has been analyzed to reach a valuation of US$ 6.85 billion in 2024 and further advance at a CAGR of 7.5% from 2024 to 2034.
Research and development efforts are introducing innovative techniques for managing chronic diseases, thus contributing to market growth. The significant risk of renal anemia among pregnant women due to iron deficiency is projected to drive sales of new kidney anemia therapies in the future. This often occurs during pregnancy when the body increases blood volume and utilizes iron to produce more blood for fetal oxygen delivery. Manufacturers are investing heavily in enhancing their strategies, including cost-effectiveness and collaborative relationships, to capture a significant share of the renal anemia treatment market.
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Key Takeaways from Market Study
- The global renal anemia treatment market is projected to expand at a CAGR of 7.5% through 2034.
- Global sales of renal anemia medications are estimated at US$ 6.85 billion in 2024.
- The market is forecasted to reach US$ 14.15 billion by 2034-end.
- The North American market is projected to expand at a CAGR of 7.8% through 2034.
- Iron supplements are estimated to account for 17.1% market share in 2024.
- East Asia is forecasted to account for 17.2% of the global market share by 2034.
“Increasing cases of iron deficiency among pregnant women is driving the demand for more effective medications to treat renal anemia. This is being fueled by the need for effective alternatives to reduce health risks during pregnancy,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Renal Anemia Treatment Market:
Key industry participants like Pfizer Inc., Janssen Pharmaceuticals, Teva Pharmaceutical Industries, Sanofi,AbbVie Inc., Covis Pharma, Eli Lilly and Company, FibroGen, GlaxoSmithKline etc. are driving the renal anemia treatment industry
Increasing Investments in Research and Development to Enhance Patient Outcomes:
Multinational pharmaceutical firms developing medications for renal anemia therapy are projected to play a critical role in enhancing access to excellent care in developing nations. Pharmaceutical firms that offer treatment for renal anemia have achieved good financial returns in recent years.
- For example, sales of Novartis' Binocrit, which is used to treat renal anemia, have increased substantially in recent years.
Growing number of pharmaceutical firms, as well as increased research and development aimed at generating innovative medications for renal anemia treatment, are projected help to drive market expansion throughout the projection period.
Renal Anemia Treatment Industry News:
Key players in the renal anemia treatment market are expanding their reach through collaborations and developing new therapies. In February 2022, the European Commission approved Oxbryta (voxelotor) from Global Blood Therapeutics for treating hemolytic anemia in sickle cell disease patients aged 12 and above, marking the first approval in Europe targeting red blood cell damage.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the renal anemia treatment market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (iron supplements, erythrocyte supplements), route of administration (oral, parenteral), and distribution channel (hospitals, retail pharmacies, mail order), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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