July 16, 2024
Nephrology Drugs Market

Nephrology Drugs Market Set for Growth Driven by Rising Prevalence of Kidney Diseases

The nephrology drugs market consists of drugs used to treat various kidney-related diseases and disorders including chronic kidney disease, kidney cancers, kidney stones, and others. Some common nephrology drugs include angiotensin-converting enzyme (ACE) inhibitors, angiotensin II receptor blockers (ARBs), diuretics, immunosuppressants, and others. Due to the increasing geriatric population and rising prevalence of chronic diseases leading to kidney damage, the demand for nephrology drugs is growing significantly.

The global nephrology drugs market is estimated to be valued at US$ 26.9 Bn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the nephrology drugs market are Amgen Inc., F. Hoffmann-La Roche Ltd, Sanofi, Novartis AG, AstraZeneca, Pfizer Inc., Johnson & Johnson, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, AbbVie Inc., Genzyme Corporation, Merck & Co. Inc., Bayer AG, Eli Lilly and Company, Fresenius Medical Care AG & Co. KGaA, Shire Pharmaceuticals Limited, Keryx Biopharmaceuticals Inc., Otsuka Pharmaceutical Co. Ltd. These players are focusing on developing new drugs and investing in research and development activities to strengthen their product portfolio.

The rising prevalence of kidney Nephrology Drugs Market Demand and growing awareness regarding kidney care provide significant opportunities in the nephrology drugs market. Pharmaceutical companies are coming up with drugs targeting specific unmet needs for better treatment outcomes.

Globally, the demand for nephrology drugs is increasing across major markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The increasing healthcare spending and healthcare infrastructure development in emerging economies is further fueling the global expansion of the nephrology drugs market.

Market Drivers:

The rising prevalence of kidney diseases across the world due to obesity, diabetes, hypertension, and aging population is a major factor driving the growth of the nephrology drugs market. It is estimated that about 10–12% of the world’s population is affected by chronic kidney disease. The increasing risk factors for kidney diseases will augment the need for effective treatment, thereby supporting the growth of the nephrology drugs market during the forecast period.

PEST Analysis

Political: Nephrology drugs are tightly regulated by governments and healthcare authorities. Regulations can influence drug approval timelines and reimbursement policies.

Economic: Rising healthcare expenditures and increasing budget impact of chronic kidney diseases are major drivers of the nephrology drugs market. Higher spending on specialty medications is boosting market revenues.

Social: Growing prevalence of lifestyle diseases such as diabetes and hypertension which can damage kidneys is increasing the patient pool. Raising awareness about kidney health mitigates risks.

Technological: Advances in drug delivery mechanisms and development of novel therapeutic classes like monoclonal antibodies are expanding treatment options. Biosimilars also provide cost-effective treatments.

Nephrology Drugs Market Regional Analysis in terms of value is highly concentrated in North America and Europe. Both regions collectively accounted for over 60% share of the global market in 2024 due to large patient populations, higher healthcare spending and extensive reimbursement facilities.

The Asia Pacific region is poised to be the fastest growing market during the forecast period. This can be attributed to increasing incidence of chronic kidney diseases, growing geriatric population, rising incomes and expanding medical insurance coverage in many Asian countries. Overall increasing awareness and improved access to healthcare are driving strong demand.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.

About Author - Ravina Pandya

Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile

About Author - Ravina Pandya

Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile

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