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Focal Segmental Glomerulosclerosis Drugs Market Report 2024: Global Size, Share, Growth, Trends, Forecast to 2033
Focal Segmental Glomerulosclerosis Drugs Market Share
According to The Business Research Company's, The focal segmental glomerulosclerosis drugs market size has grown strongly in recent years. It will grow from $14.43 billion in 2023 to $15.77 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to increasing disease prevalence, growing demand for new treatments, growing interest from pharmaceutical sector, increasing government support.
The focal segmental glomerulosclerosis drugs market size is expected to see strong growth in the next few years. It will grow to $22.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to research and development expenditure, rising healthcare expenditure, growing awareness and diagnosis, aging population, government initiatives and funding. Major trends in the forecast period include technological advancements in drug discovery and development, expanding clinical trials pipeline, improved reimbursement for focal segmental glomerulosclerosis drugs treatments, expansion of corporate research facilities.
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Market Drivers and Trends:
The rising prevalence of kidney infections is expected to propel the growth of the focal segmental glomerulosclerosis (FSGS) drugs market going forward. A kidney infection, or pyelonephritis, is a severe type of urinary tract infection (UTI) that affects one or both kidneys. Focal segmental glomerulosclerosis (FSGS) drugs, which are used to treat kidney diseases, offer several benefits in managing the condition and improving kidney function by reducing proteinuria, slowdowns the progression of kidney damage, and helping the patients suffering from kidney diseases with improved quality of life. For instance, in July 2022, according to the Centers for Disease Control and Prevention, a US-based Department of Health and Human Services, around 15%, or 37 million people in the US, were affected by kidney disease. The prevalence among individuals aged 45-64 is 12% and the prevalence among people between 18 and 44 was 6% in 2021. Therefore, the rising prevalence of kidney infections drives the focal segmental glomerulosclerosis (FSGS) market.
Major companies operating in the focal segmental glomerulosclerosis (FSGS) market are increasingly focusing on product development and innovation to provide reliable products to their customers and strengthen their market position. For instance, in February 2023, Travere Therapeutics, a US-based biopharmaceutical company, launched FILSPARI, for focal segmental glomerulosclerosis (FSGS), which was approved by the Food and Drug Administration (FDA), a US-based federal agency. It is an oral medicine for treating IgA nephropathy (IgAN). It is the first and only non-immunosuppressive treatment for lowering proteinuria in IgAN, a rare kidney disease. Additionally, FILSPARI has been given orphan drug designation in the United States and Europe for treating IgAN and focal segmental glomerulosclerosis (FSGS).
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Major Key Players of the Market:
Pfizer Inc., Johnson and Johnson Ltd., F. Hoffmann-La Roche AG, Bayer AG, Novartis AG, Sanofi S.A., Bristol Myers Squibb Company, AstraZeneca PLC, Fresenius Kabi Ltd., GSK PLC, Medtronic Plc., Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Astellas Pharma Inc., Otsuka Pharmaceutical Co. Ltd., Mylan N.V., B. Braun Melsungen AG, Hikma Pharmaceuticals PLC, Alexion Pharmaceuticals, Wockhardt, Travere Therapeutics, Aurinia Pharmaceuticals Inc., Omeros Corporation, Dimerix Ltd., Goldfinch Bio.
Focal Segmental Glomerulosclerosis Drugs Market 2024 Key Insights:
• The focal segmental glomerulosclerosis drugs market is expected to grow to$22.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
• Elevated Prevalence Of Kidney Infections Fueling Growth In The Focal Segmental Glomerulosclerosis (FSGS) Drugs Market
• Introduction Of Novel Drugs, Gaining FDA Approval, And Orphan Drug Designation
• North America was the largest region in the focal segmental glomerulosclerosis drugs market in 2023.
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