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Diabetic Kidney Disease Global Market 2024 : Major Drivers, Analysis, Size, Share, Growth And Forecast To 2033
Diabetic Kidney Disease Global Market
According to The Business Research Company's, The diabetic kidney disease market size has grown strongly in recent years. It will grow from $2.51 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to early understanding of diabetes complications, advancements in diagnostic techniques, development of ace inhibitors and arbs, clinical trials and treatment protocols, guidelines and disease management protocols..
The diabetic kidney disease market size is expected to see strong growth in the next few years. It will grow to $3.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to personalized medicine and biomarker development, rising global diabetes incidence, focus on disease modification therapies, telehealth and remote care, healthcare policy and reimbursement changes.. Major trends in the forecast period include advancements in renal replacement therapies, precision medicine approach, focus on early detection and diagnosis, therapeutic advancements, rise in comorbidities management..
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Market Drivers and Trends:
The rising prevalence of chronic kidney disease is expected to propel the growth of the diabetic kidney disease market. Chronic kidney disease (CKD) refers to a long-term condition that results in the loss of kidney function over time causing a number of complications such as high blood pressure, anemia, and bone diseases. The treatment of chronic kidney diseases requires diagnostic and treatment options, ultimately fuelling the growth of the diabetic kidney disease market. For instance, in 2021, according to the report published by the Centers for Disease Control and Prevention (CDC), a US-based public health agency, more than 37 million people were estimated to have chronic kidney disease (CKD) in the USA. Furthermore, CKD is more common in adults 65 and older, with approximately 38% of older adults suffering from some form of kidney damage. Therefore, the rising prevalence of chronic kidney disease is driving the growth of the diabetic kidney disease market going forward.
Technological advancements are a key trend gaining popularity in the diabetic kidney disease market. Companies operating in the diabetic kidney disease market are adopting new technologies to sustain their position in the market. For instance, in August 2022, Bloom Diagnostics, a US-based diagnostics and healthcare devices organization, launched the Bloom Kidney Test, a new tool that can be integrated with the Bloom Smart System. The Bloom Kidney Test is a diagnostic tool that assesses kidney health by measuring cystatin C levels, which is a reliable indicator of kidney function. It classifies kidney function into three categories: normal, mildly decreased, and decreased. The Bloom Smart System leverages cloud-based algorithms and AI (artificial intelligence) technology to integrate test results with other relevant health information, such as medical history, lifestyle, and symptoms of the patient.
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Major Key Players of the Market:
AstraZeneca plc; Pfizer Inc.; Novartis AG; Bayer AG; Sanofi SA; Teva Pharmaceutical Industries Ltd.; Bristol-Myers Squibb Company; Sun Pharmaceutical Industries Ltd.; Mylan NV; Aurobindo Pharma Ltd.; Fresenius SE & Co. KGaA; F. Hoffmann-La Roche AG; Abbott Laboratories; Reata Pharmaceuticals Inc.; Merck & Co.; Mitsubishi Tanabe Pharma Corporation; Johnson & Johnson pvt. Ltd.; Eli Lilly and Company; Allergan Inc.; Endo International Inc.; GlaxoSmithKline plc; Hebei Changshan Biochemical Pharmaceutical Co. Ltd.; Hikma Pharmaceuticals plc; Fresenius Kabi AG; AbbVie Inc.; Boehringer Ingelheim International GmbH; Chugai Pharmaceutical Co. Ltd.; Daiichi Sankyo Company Limited; Eisai Co. Ltd.
Diabetic Kidney Disease Market 2024 Key Insights:
• The diabetic kidney disease market will grow to $3.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• The Soaring Prevalence Of Chronic Kidney Disease Propelling Growth In The Diabetic Kidney Disease Market
• Technological Advancements Reshaping The Landscape Of The Diabetic Kidney Disease Market
• North America was the largest region in the diabetic kidney disease market in 2023
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