Renal Disease Market Overview:
The Global Renal Disease Market, as per the research report of Market Research Future (MRFR), is showing possibilities of attaining a CAGR of 6.32% in a bid to surpass a valuation of USD 133,451.06 Million till 2023. Renal diseases are also known by a different name, kidney diseases. The occurrence of the disease can happen due to several reasons like pollution, changing lifestyle, high intake of protein, and others.
The detailed report of MRFR provides light on the impact heaved upon the sector by rising in the geriatric population, better diagnostic procedures, growing awareness regarding the disease, and others. Diabetes and hypertension can also impact market growth. However, high healthcare costs and stringent regulation costs can pull back the renal disease market growth.
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Renal Disease Market Segmentation:
The global renal disease market can be discussed on a platform provided by segments like disease type, treatment type, and end user. This segmentation has data and figures on several aspects with potential to trigger market growth.
By disease type, the global market for renal disease can be segmented into chronic kidney disease and end-stage renal diseases (ESRD). Of these two, the chronic kidney disease segment has a valuation of over USD 60,228.68 million in 2017.
By treatment type, the global market report on renal disease includes medications, dialysis, and kidney transplantation. Growing awareness of the disease is providing opportunities regarding better treatment and is taking these segments ahead.
By end user, the global renal disease market report can be segmented into hospitals & clinics, dialysis centers, and research & academic institutes. The hospitals & clinics segment would score notably higher than in previous years.
Renal Disease Market Regional Analysis
The Americas have a better potential to perform well among its peers in the renal disease market. The regional market had the largest market share of which the lion’s share comes from North America where the US and Canada contribute the most. These two countries are known for their extensive market contribution. This has been possible for the countries as they have robust infrastructure, strong reimbursement policies to cover the needs of the people, a better influx of investment for research & development purpose and others. The rising geriatric population is also registering growth in numbers for renal diseases.
Europe’s growth in terms of the market for renal diseases is quite extraordinary. As per the reports published in 2015 in the European Renal Association’s annual report, 10% of the European population are affected by various forms of renal diseases. Better availability of diagnostic procedures can also make sure that the market for renal disease gains better prospects. The Asia Pacific region has a vast population that can trigger the growth of the market. This has the potential of emerging as the fastest-growing region in the coming years. Countries like China, India, and South Korea are impacting the market with high investment. This region is also profiting much as a destination for outsourcing of clinical trials, drug manufacturing, and pathology testing.
Renal Disease Market Competitive Landscape:
Several players showing interest in the renal disease market are Amgen Inc. (US), Abbott (US), Bristol-Myers Squibb Company (US), AstraZeneca (US), Fresenius Medical Care AG & Co. KGaA (UK), F. Hoffmann-La Roche Ltd (Switzerland), Keryx Biopharmaceuticals, Inc (US), GlaxoSmithKline PLC (UK), Pfizer Inc. (US), Sanofi SA (France), Novartis AG (Switzerland), Kissei Pharmaceutical Co., Ltd (Japan), and Teva Pharmaceutical Industries Ltd (Israel). MRFR’s recording of these companies in the report has its focus set on various tactical moves that they implement to make their stance strong. This also provides inputs regarding how the market is going to act in the coming years.
Renal Disease Industry News:
In November 2019, Cricket Health published a white paper named “Machine Learning for Chronic Kidney Disease Detection & Risk Stratification,” saying that it has a model for machine learning the symptoms of a possible kidney malfunctioning, which can contribute in having chronic kidney disease (CKD) detected.
In November 2019, Baxter and Ayogo Health Inc. announced that they will launch a smartphone app, CKD&Me, to provide teaching content regarding kidney issues to patients with learning needs across the U.S.
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