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End Stage Renal Disease (ESRD) Drug Market Report 2024 - End Stage Renal Disease (ESRD) Drug Market Analysis, Demand, And Opportunities
End Stage Renal Disease (ESRD) Drug Market
According to The Business Research Company's, The end stage renal disease (esrd) drug market size has grown rapidly in recent years. It will grow from $116.32 billion in 2023 to $132.86 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to increasing incidence of end stage renal disease, growing aging population, improved access to healthcare services, government initiatives and policies, increasing adoption of renal replacement therapies.
The end stage renal disease (esrd) drug market size is expected to see rapid growth in the next few years. It will grow to $232.13 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to emerging therapies and drug innovations, increasing healthcare expenditure, rising global burden of chronic kidney diseases, personalized medicine approaches, regulatory support and expedited approvals. Major trends in the forecast period include increasing incidence of end stage renal disease, advancements in treatment modalities, growing emphasis on precision medicine, development of combination therapies, technological integration in healthcare.
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Market Drivers and Trends:
Rising cases of obesity and diabetes are expected to propel the growth of the end-stage renal disease (ESRD) drug market going forward. Obesity is described as abnormal or excessive fat buildup that poses a health concern. In contrast, diabetes is a chronic condition that happens when the pancreas does not create enough insulin or when the body cannot utilize the insulin produced efficiently. In patients with renal disease, managing fluid and electrolyte levels, blood pressure, and waste product elimination through dialysis can improve general health and well-being, which may lead to weight reduction and improve blood sugar control. For instance, in March 2022, according to World Obesity, a US-based membership organization representing national and regional associations dedicated to the study and management of obesity, the number of obese people is expected to rise to 892 million in 2025 and then to 1,025 million in 2030. Furthermore, in September 2021, according to the International Diabetes Federation (IDF), a Belgium-based umbrella organization of over 230 national diabetes organizations, approximately 537 million individuals (20-79 years of age) were living with diabetes in 2021, with this figure expected to rise to 643 million by 2030 and 783 million by 2045. Therefore, the rising cases of obesity and diabetes will drive the market for end-stage renal disease (ESRD) drugs.
Product innovations are a key trend in gaining popularity in the end-stage renal disease (ESRD) drug market. Major companies operating in the end-stage renal disease (ESRD) drug market are focused on developing innovative solutions to sustain in the market. For instance, in April 2022, GlaxoSmithKline Plc, a UK-based pharmaceutical and biotechnology firm, announced that the US Food and Drug Administration (FDA) accepted the New Drug Application (NDA) for daprodustat, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI) for the possible treatment of patients with chronic kidney disease anaemia (CKD). The new product is based on the unique nobel prize-winning science that proved how cells sense and adapt to oxygen availability.
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Major Key Players of the Market:
Pfizer Inc.; AstraZeneca plc; Sanofi SA; Astellas Pharma Inc.; Novartis AG; Fresenius SE & Co. KGaA; Takeda Pharmaceutical Company Limited; F. Hoffmann-La Roche Ltd.; Kissei Pharmaceutical Co. Ltd.; Baxter International Inc.; AbbVie Inc.; Amgen Inc.; Akebia Drugs Inc.; Bayer AG; Bristol-Myers Squibb Company; B. Braun SE; Asahi Kasei Medical Co. Ltd.; Cantel Medical Corp.; Nikkiso Co. Ltd.; Abbott Laboratories; Alere Inc.; Siemens Healthcare AG; Roche Diagnostics Corporation; Beckman Coulter Inc.; Becton Dickinson And Co.; Thermo Fisher Scientific Inc.; BioMerieux SA; Bio-Rad Laboratories; Randox Laboratories; Enzo Biochem Inc.; Merck Co. & KGaA; QIAGEN N.V.; PerkinElmer Inc.; Tosoh Corporation; Eurolyser Diagnostica GmbH
End Stage Renal Disease (ESRD) Drug Market 2024 Key Insights:
• The end stage renal disease (esrd) drug market will grow to $232.13 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%.
• The Interconnection Of Obesity And Diabetes In Fueling End-Stage Renal Disease (ESRD) Drug Market Growth
• Role Of Product Innovations In The Evolving Landscape Of The End-Stage Renal Disease (ESRD) Drug Market
• North America was the largest region in the end stage renal disease (ESRD) drug market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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