A latest market research report added to the repository of Market Research Reports Search Engine (MRRSE) states that the diabetic nephropathy market will report a moderate CAGR at 5.6% from 2014 through 2020. The report, published by Persistence Market Research, is titled ‘Global Market Study on Diabetic Nephropathy Market – Asia to Witness Highest Growth by 2020’. The study says that the diabetic nephropathy market approximated US$2,262.2 million in 2014, and will be worth US$ 3,145.9 million by the end of 2020.
Diabetic nephropathy, a condition that increase the risk of mortality in diabetes patients, is being widely reported across the world due to the sheer increase in the number of obese people and diabetics. The disease affects the kidneys, ultimately rendering them ineffective. This has necessitated investments in formulating treatments for diabetic nephropathy, leading to a teeming therapy pipeline in major markets of the world.
The drugs, however, are faced with long approval times (essentially because there are scores of regulatory hurdles) making it difficult for pharma companies to bring novel products to the market in short turnaround times. Moreover, there is a general lack of broader therapeutic management for the disease. All of these factors will play a role in curtailing the growth of the global diabetic nephropathy market.
The report notes that North America has the highest degree of awareness about diabetic nephropathy. Government initiatives such as the National Kidney Disease Education Program can be credited for this. The market here continues to organically grow because of a parallel increase in the number of people suffering from diabetes in America. Estimates from the SciELO Public Health state that in 2000 about 35 million people in North America suffered from diabetes mellitus; by 2025, this number will soar to 64 million in the region. The European diabetic nephropathy market is also on an upswing because here too, diabetes is increasingly being reported. International Diabetes Federation (IDF) says that the amount expended on diabetes treatment in the European region was pegged at US$105.5 billion in 2010, and will hit US$124.6 billion by 2030.
The highest potential for growth lies in the Asia Pacific diabetic nephropathy market. The region is witnessing an escalation in the incidence of diabetic nephropathy in Japan and other Southeast Asian nations.
Moving forward, companies in the diabetic nephropathy market have a lucrative opportunity in developing combination therapies.