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Rare Kidney Diseases Market Share Analysis, Growth And Forecast 2033
Rare Kidney Diseases Market Share
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According to The Business Research Company's, The rare kidney diseases market size has grown rapidly in recent years. It will grow from $2.52 billion in 2023 to $2.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increased disease recognition, orphan drug designations, patient advocacy and awareness, global collaborations in research..
The rare kidney diseases market size is expected to see strong growth in the next few years. It will grow to $4.07 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to emergence of gene therapies, increasing investment in rare disease research, growing collaboration between stakeholders, global initiatives for rare diseases.. Major trends in the forecast period include patient-centric approach, real-world evidence and data analytics, regulatory developments, telemedicine and remote monitoring, global health initiatives..
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Market Drivers and Trends:
Government initiatives and funding for kidney disorders are expected to propel the growth of the rare kidney disease market going forward. A government initiative and funding are a type of government financial support given to selected entities with ideas or projects that contribute to and improve public services and the economy. The government provides aid in kidney disorders to enhance disease surveillance and improve the quality of life for persons with various kidney diseases by using a comprehensive public health strategy that includes other public health agencies and national organizations. For instance, in July 2022, The United States House Committee on Appropriations, a US-based committee of the House of Representatives, initiated various investment programs to promote kidney health. It includes $8.5 million in funding for the Centers for Disease Control and Prevention's (CDC) chronic kidney disease program to accelerate activities to promote regular kidney disease awareness, diagnosis, and treatment. Further, a living donation investment of $1 million was made to boost the national living donor assistance center, bringing the total to $8 million in ongoing investment in innovation and research. Therefore, government initiatives and funding for kidney disorders are driving the growth of the rare kidney disease market.
Product innovation is a key trend gaining popularity in the rare kidney disease market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in September 2022, STADA Arzneimittel AG, a Germany-based company operating in generics, specialty pharma, and non-prescription consumer healthcare products, introduced Kinpeygo (budesonide), the first medicine authorized in the EU for treating rare kidney disease for treating a rare kidney disease immunoglobulin A nephropathy (IgAN). The modified-release budesonide capsules are the first and only approved treatment in the EU for primary IgAN, a rare, progressive autoimmune kidney disease with a high unmet need, with more than 25%-30% of patients eventually developing terminal kidney insufficiency requiring dialysis or kidney transplantation.
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Major Key Players of the Market:
Merck & Co. Inc., Novartis AG, Sanofi S.A, AstraZeneca plc, GlaxoSmithKline plc, Otsuka Pharmaceutical Co Ltd., Alexion Pharmaceuticals Inc., Horizon Therapeutics plc., Recordati S.p.A., Proteostasis Therapeutics, Amicus Therapeutics Inc., Akebia Therapeutics Inc., Travere Therapeutics, FibroGen Inc., Aurinia Pharmaceuticals Inc., Calliditas Therapeutics AB, Apellis Pharmaceuticals Inc., Protalix Biotherapeutics Inc., ChemoCentryx Inc., Omeros Corporation, Celtaxsys Inc., Corbus Pharmaceuticals Holdings Inc., Chinook Therapeutics Inc., Spyryx Biosciences Inc., OxThera AB, Advicenne Pharma SA, ProQR Therapeutics NV, Reata Pharmaceuticals Inc., Savara Inc.
Rare Kidney Diseases Market 2024 Key Insights:
• The rare kidney diseases market size is expected to see strong growth in the next few years. It will grow to $4.07 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Government Catalysts Fueling Rare Kidney Disease Market Surge
• Innovative Therapies Emerge As Key Catalysts In Rare Kidney Disease Market Evolution
• North America was the leading region in the rare kidney disease market in 2023
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