Wilmington, Delaware, United States, July 25, 2023 (GLOBE NEWSWIRE) -- The global ketoanalogue for kidney disease market stood at US$ 214.7 million in 2021, and the global market is projected to reach US$ 409.6 million by 2031. The global industry is anticipated to record a CAGR of 6.5% between 2022 and 2031.
The value of ketoanalogue in kidney disease treatment is increasing, owing to the increasing prevalence of chronic kidney disease globally. CKD is a significant health burden, affecting millions of people worldwide, especially the elderly population.
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The demand for effective treatment options like ketoanalogues is expected to surge, as the incidence of kidney disease rises due to factors such as aging populations, lifestyle changes, and the prevalence of diabetes and hypertension.
Advancements in medical research and technology, is another significant factor contributing to the market growth, which have led to better diagnosis and monitoring of kidney disease, leading to early intervention and treatment, which has increased the overall demand for ketoanalogue products as part of the comprehensive management of kidney disease.
Healthcare professionals are increasingly recognizing the benefits of ketoanalogues in slowing the progression of kidney disease, reducing the risk of complications, and improving patients' quality of life. The growing acceptance and endorsement by healthcare providers further boost the market's growth. The market prospects have also been driven by factors such as rising awareness among patients and healthcare providers, about the importance of proper nutrition and dietary management in kidney disease management.
Key Findings of the Market Report
- On the basis of application, the chronic kidney disease segment (CKD) is expected to hold a significant share, and is likely to be most preferred, attributed to the high prevalence of chronic kidney disease, and need for disease management.
- Rising awareness and diagnosis, as well as favorable reimbursement policies are other factors that are also anticipated to fuel the segmental growth.
- By end-user, the hospital pharmacies segment is anticipated to hold a significant share, and is expected to augment the market growth, attributed to the factors including availability of specialized care, and collaboration with healthcare professionals.
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Global Ketoanalogue for Kidney Disease Market: Growth Drivers
- The global ketoanalogue for kidney disease market is likely to expand at a steady pace from 2022 to 2031, owing to government initiatives and healthcare policies, as well as ongoing research and development efforts.
- Other factors that are projected to augment the market growth include the increasing geriatric population, and growing healthcare expenditure.
- Awareness initiatives and patient education, and rise in dialysis patients, are the major factors that are anticipated to fuel the market prospects in the near future.
Global Ketoanalogue for Kidney Disease Market: Regional Landscape
- The ketoanalogue for kidney disease market in North America is expected to hold a significant share, attributed to the high prevalence of chronic kidney disease (CKD), as well as advanced healthcare infrastructure in the region.
- The regional market is witnessing an increase, due to the factors such as rising awareness of nutritional therapy, and favorable reimbursement policies.
- Technological advancements, and collaborations and partnerships in the region, are also anticipated to escalate the growth of the regional market over the analysis period.
Global Ketoanalogue for Kidney Disease Market: Key Players
Some of the key market players in the global ketoanalogue for kidney disease market are:
- Fresenius Kabi AG
- RPG Life Sciences Ltd.
- Alniche Life Sciences Pvt. Ltd.
- La Renon Healthcare Pvt. Ltd.
- Steadfast Medishield Pvt. Ltd.
- Panacea Biotec
- Element, Inc.
- Ajanta Pharma Limited
- Centaur Pharmaceuticals
- Genix Lifescience Pvt. Ltd.
Competitive Landscape
Prominent players in the ketoanalogue for kidney disease industry are taking advantage of the rapidly increasing demand for ketoanalogue for kidney disease. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
- In 2022, La Renon Healthcare Pvt. Ltd. made a strategic acquisition of Enaltec Labs, a move aimed at bolstering their capabilities in the development, manufacturing, and marketing of niche specialized and complex active pharma ingredients. The acquisition is expected to strengthen La Renon's position in both the Indian and overseas markets.
- In 2022, Fresenius Kabi AG launched a new ketoanalogue product, Oxalurea, in the United States. Oxalurea is a once-daily oral ketoanalogue that is indicated for the treatment of patients with chronic kidney disease (CKD) who are at risk of developing end-stage renal disease (ESRD).
- In 2023, Alniche Life Sciences Pvt. Ltd. announced the launch of its ketoanalogue product, Ketosteril, in India. Ketosteril is a once-daily oral ketoanalogue that is indicated for the treatment of patients with CKD who are at risk of developing ESRD.
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Global Ketoanalogue for Kidney Disease Market: Segmentation
Application
- Chronic Kidney Disease (CKD)
- Acute Renal Failure
- Others
End-User
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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