Renal Disease Market Size Industry Insights, Top Trends, Drivers, Growth and Forecast to 2023
Research Reports
Jan 08, 2021
Market Synopsis
According to the research conducted by Market Research Future Reports (MRFR), the global Renal Disease Market is estimated to record a CAGR of 6.32%, acquiring a value of USD 133,451.06 million by the end of 2023. The most significant factor driving the global renal disease market 2020 is the growing ailment of kidney disease among individuals. Further, the growing geriatric population across the world is estimated to augment market growth during the forecast period. Also, the increasing hypertension is likely to further lead the market growth in the forthcoming period. Also, the increasing expenditure in healthcare is projected to market. The increasing number of patients has resulted in the surged demand for efficient healthcare services, and treatment methods are other important factors that are likely to back the global market.
However, the exuberant cost of healthcare is estimated to hamper the market growth in the forthcoming period. In addition, the stringent rules and regulations with respect to the approval of medical equipment and drugs are likely to hamper the market. On the contrary, the presence of several opportunities is estimated to ensure market growth during the forecast period.
Regional Analysis
The global market for renal disease market can be segmented on the basis of treatment type, disease type, end-user, and region.
On the basis of treatment type, the global market for the renal market can be distinguished into dialysis, kidney transplantation, and medication.
On the basis of disease type, the global market for the renal market can be distinguished into chronic kidney disease and end-stage renal disease (ESRD).
On the basis of end-user, the global market for the renal market can be distinguished into Research and Academic Institutes, Dialysis Centres, and Hospital & Clinics.
On the basis of region, the global market for the renal market can be distinguished into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
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Regional Analysis
The global market for renal disease market is estimated to grow significantly during the assessment period. Geographically, the global renal disease market is estimated to be led by the Americas due to the growing cases of renal diseases among the geriatric population. The Americas are likely to acquire the largest market share. Also, the availability of healthcare facilities is estimated to propel the market regionally in the forthcoming period. The second-largest market is projected to be acquired by Europe. The increasing awareness of renal diseases, the growing geriatric population, and the growing prevalence of kidney diseases in Europe has led to a rise in the demand for diagnostic tests. The APAC region is likely to acquire the third position. However, the region is developing at the fastest rate in the forthcoming period. Countries such as India, Japan, China, and South Korea are the emerging spots for outsourcing drug manufacturing, clinical trials, and pathology testing.
Further, the increasing disposable income of the individuals of the APAC region is another important factor leading to the growth of the market. The MEA region acquires the last position. The MEA region is expanding due to the increasing prevalence of renal disease in Saudi Arabia, UAE, and Kuwait.
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Key Players
The established players of the global market for the renal disease are Amgen Inc. (US), Abbott (US), AstraZeneca (US), F. Hoffmann-La Roche Ltd (Switzerland), Bristol-Myers Squibb Company (US), Fresenius Medical Care AG & Co. KGaA (UK), Keryx Biopharmaceuticals, Inc (US), GlaxoSmithKline PLC (UK), Kissei Pharmaceutical Co., Ltd (Japan), Pfizer Inc. (US), Novartis AG (Switzerland), Sanofi SA (France), and Teva Pharmaceutical Industries Ltd (Israel).
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