Global Chronic Kidney Disease Drugs Market: Snapshot
The global market for chronic kidney disease drugs continues to proliferate at a significant pace, driven by the increasing number of chronic kidney disease patients and the growing need of novel treatments to improve patients’ quality of life. The increasing number of elderly people, who are more vulnerable to various diseases due to poor immunity, such as cardiovascular disorders, diabetes, and neurological conditions, is another important factor behind the growth of this market, as, owing to this, the prevalence of these diseases is rising considerably across the world.
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Going forward, the market is projected to be propelled substantially in the near future by the technological advancements, leading to the development of a wide array of drugs, which will enable clinicians to provide proper assistance to chronic kidney disease patients. The global chronic kidney disease drugs market stood at US$11.5 bn in 2015. Burgeoning at a CAGR of 3.60% between 2016 and 2024, the market’s opportunity is expected to reach US$15.8 bn by the end of 2024.
Calcium Channel Blockers to Remain Market Leader Supported by Strong Demand
The global market for chronic kidney disease drugs is studied on the basis of a number of parameters, among which the drug class is a prominent one. Based on the drug class, the market is classified primarily into ACE Inhibitors, Angiotensin-II receptor blockers, calcium channel blockers, beta blockers, erythropoiesis-stimulating agents (ESAs), and diuretics.
Calcium channel blockers surfaced as the key drug class in 2015, leading the market with a share of 18.9%. Currently, the main calcium channel blockers utilized across the world are benzothiazepines (diltiazem), phenyl alkyl amines (verapamil), and dihydropiridines (nifedipine and amlodipine).
Hospitals and specialty clinics are the prime end users of chronic kidney disease drugs. The hospitals segment, which is the current market leader, is expected to continue its dominance in this market over the next few years.
Strong Economic Conditions to Prove Favorable for North America Chronic Kidney Disease Drugs Market
The worldwide chronic kidney disease drugs market is stretched across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America led this market in 2015 with a share of 31.8%. Driven by the strong economic condition of the region and the high acceptance for advanced technology products, the North America chronic kidney disease drugs market is likely to maintain its lead over the forthcoming years. The increasing cases of diabetes and obesity related disorders are also projected to boost this regional market in the near future.
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Europe, which was the second leading market for chronic kidney disease drugs across the world in 2015, is likely to present the most attractive growth opportunities to market players in the years to come due to the increasing pool of kidney cancer patients in this region. The high rate of adoption and usage of superior quality treatments for these diseases is also predicted to aid the Europe chronic kidney disease drugs market over the next few years. The significant expansion of the medical and healthcare industry in China, Japan, and Australia is likely to drive the Asia Pacific market for chronic kidney disease drugs in the near future.
Teva Pharmaceutical Industries Ltd., Amgen Inc., AstraZeneca Plc, Pfizer Inc., F. Hoffmann-La Roche Ltd., Sanofi S.A., GlaxoSmithKline Plc, AbbVie Inc., Kissei Pharmaceutical Co. Ltd., and Keryx Biopharmaceuticals Inc. are some of the leading makers of drugs for the treatment of chronic kidney diseases across the world.