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2024 Global Chronic Kidney Disease Market Size, Share, Trends And Growth Analysis Report
Chronic Kidney Disease Global Market Report 2024
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According to The Business Research Company's, The chronic kidney disease market size has grown strongly in recent years. It will grow from $65.74 billion in 2023 to $70.2 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to hypertension and diabetes epidemic, aging population, unhealthy lifestyles, healthcare access disparities, medical advances.
The chronic kidney disease market size is expected to see strong growth in the next few years. It will grow to $88.26 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to healthcare policy focus, precision medicine development, rise in obesity rates, growth in chronic diseases, improved healthcare access. Major trends in the forecast period include early screening campaigns, telemedicine and remote monitoring, patient empowerment programs, community-based care initiatives, nutritional therapy integration.
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Market Drivers and Trends:
The increasing prevalence of kidney disease is expected to propel the growth of the chronic kidney disease market going forward. Kidney diseases refer to a group of conditions that affect the function and structure of the kidneys. Medication for kidney disease is 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 the Centers for Disease Control and Prevention, a US-based national public health agency, around 15%, or 37 million people in the US, were affected by kidney disease. Therefore, the increasing prevalence of kidney disease is driving the growth of the chronic kidney disease market.
Product innovations are a key trend gaining popularity in the chronic kidney disease market. Companies operating in the chronic kidney disease market are developing innovative products to sustain their position in the market. For instance, in August 2022, Bayer, a Germany-based biotechnology and pharmaceutical company, launched the innovative medicine Kerendia (finerenone) to slow down the progression of chronic kidney disease in diabetes patients. It is a first-in-class non-steroidal, selective mineralocorticoid receptor antagonist and differs from existing treatments. It blocks mineralocorticoid receptor (MR) overactivation, contributing to CKD progression and cardiovascular damage.
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Major Key Players of the Market:
Pfizer Inc, Johnson and Johnson Services Inc., F. Hoffmann-La Roche Ltd., AbbVie Inc., Bayer AG, Novartis International AG, Sanofi SA, Bristol-Myers Squibb Company, Abbott laboratories Inc., GlaxoSmithKline PLC, Takeda Pharmaceuticals Ltd., Eli Lilly and Company, Boehringer Ingelheim International GmbH, Amgen Inc., Novo Nordisk AS, Siemens Healthineers AG, AstraZeneca Pharmaceuticals LP, Teva Pharmaceutical Industries Ltd., Beckman Coulter Inc., Kissei Pharmaceutical Co. Ltd., Akebia Therapeutics Inc., Mission Therapeutics Ltd., Tricida Inc., Regulus Therapeutics Inc., Goldfinch Bio Co, Alio Inc., Monogram Health, Strive Health, Maze Therapeutics, ProKidney Corp
Chronic Kidney Disease Market 2024 Key Insights:
• The chronic kidney disease market size is expected to see strong growth in the next few years. It will grow to $88.26 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• The Rising Prevalence Of Kidney Disease Drives Growth In The Chronic Kidney Disease Market
• Innovative Products Drive Growth In The Chronic Kidney Disease Market
• North America was the largest region in the chronic kidney disease market in 2023
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