Market Overview
The global chronic kidney disease market isexpected to grow at a cagr of 5.2% during the forecast period of 2017–2023. Ablood examination is one of the most important tests for diagnosing kidneydisease because it helps to determine how well the kidneys are functioning. Theblood test tests the amount of creatinine, a waste product, in the blood. Thecalculated glomerular filtration rate (eGFR) is used to determine how manymilliliters of waste the kidneys will filter in a minute. Chronic kidneydisease is described by the progressive loss of kidney function over time. Itcan lead to kidney failure if left untreated. Chronic kidney disease iscommonly caused by type 1 or type 2 diabetes, high blood pressure,glomerulonephritis, interstitial nephritis, polycystic kidney disease, andother conditions. Drug administration can be used to treat the condition earlyon, and dialysis and kidney transplantation can be used to treat it later.
Market Dynamics
Despite the current COVID 19 pandemic thathas impacted much of the world's economies, equity stocks have risen marginallyas a few businesses have managed to drive the new market. Furthermore, sincethe incidence of CKD is high and rising in many parts of the world, demand forthese tests is expected to rise.
The rising prevalence of kidney diseases,the rising number of biopsy procedures, and the rising demand for newstrategies for diagnosing chronic diseases are all driving the market forward.Furthermore, the availability of different diagnostic tests for kidneydisorders has an effect on market development. During the forecast period, thegrowing number of market players is also expected to boost market growth.Furthermore, diagnostic firms are concentrating on technical advances in orderto speed up disease diagnosis. Furthermore, diseases such as diabetes andcardiovascular diseases are on the rise, which is expected to drive up demandfor the products over the forecast era. The rising prevalence of thiscondition, especially among the elderly, is expected to become a significantgrowth driver for the market over the forecast period.
On the other hand, rising competition amongthe various chronic kidney disease drugs on the market is expected to be amajor limiting factor for market growth during the assessment period.
Regional Overview
The growing number of people with kidneydiseases in the United States, as well as the widespread use of diagnostictests for detecting kidney failure and the the demand for new treatment optionsfor kidney diseases, are driving the chronic kidney disease market in theUnited States. Because of the increasing prevalence of chronic kidney diseaseand the availability of better healthcare facilities, the United States isprojected to be the largest chronic kidney disease market.
The demand in Europe is being driven by themedical device industry's growth and increased understanding of kidney diseaserisk factors. Furthermore, the growing diabetic population and significantinvestments in the medical device sector by major market players are propellingthe market forward. The growing focus on the production of new medicines,rising government funding for research and development, and the availability offunds for research are driving Germany, the largest market for chronic kidneydiseases.
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Competitive Analysis
The notable players are Abbott, Siemens,Sysmex, Beckman Coulter, F. Hoffmann-La Roche Ltd, ACON Laboratories, Inc.,URIT Medical, Nova Biomedical, ARKRAY, OPTI Medical, 77 Elektronika, RandoxLaboratories, Teva Pharmaceutical Industries Ltd., Amgen Inc., AstraZeneca Plc,Pfizer Inc., F. Hoffmann-La Roche Ltd., Sanofi S.A., GlaxoSmithKline Plc,AbbVie Inc., and Kissei Pharmaceutical Co. Ltd.
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