MRFR projects that the chronic kidney disease market will record a decent growth rate of 5.2% over the forecast timeframe.
Market Scope
Market Research Future (MRFR) projects that the chronic kidney disease market will record a decent growth rate of 5.2% over the forecast timeframe (between 2020 and 2027).
Growth Boosters and Deterrents
Rising burden of chronic diseases across the world including kidney as well as high blood pressure has rendered the chronic kidney disease market size quite profitable. The Kidney Health Australia reveals that healthcare costs pertaining to the existing as well as new cases of kidney disease will touch USD 12 billion by 2022. Going forward, the Centers for Disease Control & Prevention says that close to 15% of Americans are expected to develop chronic kidney disease by 2021. Reports also confirm that a whopping 96% of patients suffering from kidney damage are not even aware of about the condition, which should foster the growth potential of the chronic kidney disease drugs industry in the years ahead. Alarming rise in cases of high blood pressure and diabetes is also bound to create favorable avenues for the global market.
Market Segmentation
The chronic kidney disease industry has been segregated with respect to diagnosis, treatment, indication, and end-user.
The diagnosis-based segments are urine test, blood test, kidney biopsy and imaging test.
Treatment-wise, the market caters to dialysis, kidney transplant and drugs.
The indications covered in the report are polycystic kidney disease, high blood pressure, Type 1 or Type 2 diabetes, and others.
Major market end-user considered in the study are diagnostic centers, hospitals and clinics, and others.
Regional Analysis
The chronic kidney disease industry has been geographically divided into Europe, APAC/Asia Pacific, MEA/Middle East & Africa and the Americas.
The American market for chronic kidney disease is in the lead, considering the expanding population of patients affected by kidney diseases and the extensive demand for kidney disease diagnostic tests. Soaring need for new and more effective treatment options for the condition has fostered the growth of the chronic kidney disease market growth. CDC reports that in the year 2015, close to 120,000 Americans started with the treatment for chronic kidney disease, indicating the rising awareness among the mass about this condition. This prompts more and more patients to come forward and seek treatment for the condition. This factor should ensure sustained market growth throughout the review period for North America.
The European market has been rendered strong by the burgeoning medical device sector and the mounting awareness among people about the risk factors associated with kidney diseases. Additionally, the mounting number of diabetic patients and the large-scale spending on the medical device and drugs industry will further elevate the market position in Europe. Germany is by far the most lucrative market for chronic kidney diseases in the region, in view of the rising emphasis on developing new drugs and the strong government backing to research & development activities.
Asia Pacific is slated to chart the fastest growth trajectory over the ensuing years, largely due to the expanding elderly population, prevalence of stressful lifestyle and the growing patient base. The noteworthy improvement in the quality of treatment lines and diagnosis, along with the surge in purchasing capacity of people across China, Japan and India also push the market demand.
Leading Companies
Siemens, Beckman Coulter, F. Hoffmann-La Roche Ltd, 77 Elektronika, AbbVie Inc., Inc., URIT Medical, Abbott, ARKRAY, OPTI Medical, Sysmex, Randox Laboratories, Teva Pharmaceutical Industries Ltd., ACON Laboratories, AstraZeneca Plc, Pfizer Inc., F. Hoffmann-La Roche Ltd., Sanofi S.A., GlaxoSmithKline Plc, Amgen Inc., Kissei Pharmaceutical Co. Ltd., Nova Biomedical are identified as the key contenders in the global market for chronic kidney disease.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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