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Late-Stage Chronic Kidney Disease Drug Market Insights and Trends 2024
Late-Stage Chronic Kidney Disease Drug Market Insights
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According to The Business Research Company's, The late stage chronic kidney disease drugs market size has grown rapidly in recent years. It will grow from $6.38 billion in 2023 to $7.16 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to improvements in diagnostic capabilities, aging population, increased prevalence of diabetes and hypertension, growing awareness of kidney diseases, expansion of pharmaceutical research and development..
The late stage chronic kidney disease drugs market size is expected to see rapid growth in the next few years. It will grow to $10.94 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to rising healthcare expenditure, adoption of precision medicine approaches, increasing focus on regenerative medicine, growing emphasis on patient-centered care, global initiatives for kidney disease awareness.. Major trends in the forecast period include expansion of regenerative medicine therapies, rise in telemedicine services for ckd management, development of combination therapies, emphasis on early intervention strategies, growing interest in biomarker-based diagnostics.
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Market Drivers and Trends:
The high prevalence of chronic kidney diseases is expected to propel the growth of the late-stage chronic kidney disease drug market going forward. Chronic kidney diseases refer to a diverse range of conditions that affect the structure and operation of the kidneys. Late-stage chronic kidney disease drugs for chronic kidney disease are used to control blood pressure in patients and decrease protein loss to halt the progression of kidney impairment, manage symptoms, and avoid consequences. For instance, in July 2022, according to 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 people between 18 and 44 have the lowest majority of 6% in 2021. Therefore, the prevalence of chronic kidney disease is driving the growth of the late-stage chronic kidney disease drug market.
Product innovation is a key trend gaining popularity in the late-stage chronic kidney disease drug market. Major companies operating in the late-stage chronic kidney disease drug market are developing new product drugs to sustain their position in the market. For instance, in February 2022, Bayer, a Germany-based pharmaceutical and biotechnology company, launched Kerendia (finerenone) in India. Patients with type two diabetes and chronic renal disease should use finer enone, a first-in-class non-steroidal, selective mineralocorticoid receptor antagonist. It works by preventing the overactivation of the mineralocorticoid receptor (MR), which is thought to be a factor in developing chronic kidney disease (CKD) and cardiovascular harm.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson, AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca plc, Eli Lilly and Company, C.H. Boehringer Sohn AG & Co. KG, Amgen Inc., Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co. Ltd., Takeda Pharmaceutical Company Limited, Kyowa Kirin Co Ltd., OPKO Health Inc., Evotec SE, Ionis Pharmaceuticals Inc., Akebia Therapeutics Inc., Ardelyx Inc., Concert Pharmaceuticals Inc., Pharmaxis Limited, Deltanoid Pharmaceuticals Inc., Liminal BioSciences Inc., Chinook Therapeutics Inc., Allena Pharmaceuticals Inc, Shield Therapeutics Plc, Shire plc.
Late Stage Chronic Kidney Disease Drugs Market 2024 Key Insights:
• The late stage chronic kidney disease drugs market size is expected to see rapid growth in the next few years. It will grow to $10.94 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
• Surging Prevalence Of Chronic Kidney Diseases Sparks Growth In The Late-Stage Ckd Drug Market
• Product Innovation In Late-Stage Chronic Kidney Disease Drug Market
• North America was the largest region in the late stage chronic kidney disease drugs market in 2023
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