Diabetic Kidney Disease Global Market Research Report 2024
Dublin, March 25, 2024 (GLOBE NEWSWIRE) -- The "Diabetic Kidney Disease Global Market Report 2024" report has been added to * ResearchAndMarkets.com's* offering.
The diabetic kidney disease market size has grown strongly in recent years. It will grow from $2.51 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%.
The growth in the historic period can be attributed to the early comprehension of diabetes complications, advancements in diagnostic techniques, the development of ACE inhibitors and ARBs, clinical trials and treatment protocols, and the establishment of guidelines and disease management protocols.
The diabetic kidney disease market size is expected to see strong growth in the next few years. It will grow to $3.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
The growth in the forecast period can be attributed to personalized medicine and biomarker development, the rising global incidence of diabetes, a focus on disease modification therapies, the adoption of telehealth and remote care, and changes in healthcare policy and reimbursement. Major trends in the forecast period include advancements in renal replacement therapies, a precision medicine approach, a focus on early detection and diagnosis, therapeutic advancements, and an emphasis on comorbidities management.
The anticipated surge in chronic kidney disease (CKD) cases is set to drive the expansion of the diabetic kidney disease market. CKD, a prolonged condition leading to gradual kidney function loss, manifests various complications such as high blood pressure, anemia, and bone diseases. Effective management of CKD necessitates diagnostic and treatment solutions, thereby stimulating growth in the diabetic kidney disease market. According to a 2021 report from the Centers for Disease Control and Prevention (CDC), over 37 million individuals were estimated to suffer from CKD in the USA, notably prevalent among adults aged 65 and above, with approximately 38% experiencing some form of kidney damage. This rise in CKD instances significantly contributes to the burgeoning diabetic kidney disease market.
The upsurge in healthcare expenditure is poised to propel the diabetic kidney disease market's growth trajectory. Healthcare expenditure denotes the total spending on healthcare-related goods and services within a specific period, often on a national or institutional scale. Increased healthcare investment facilitates the adoption of cutting-edge diagnostic technologies, enabling early and precise detection of diabetic kidney disease and prompt intervention.
The 2021-2030 National Health Expenditure (NHE) report released by the Centers for Medicare & Medicaid Services in March 2022 projects an average annual growth of 5.1% in national health spending, reaching nearly $6.8 trillion by 2030. Notably, Medicare spending is forecasted to increase by 7.2% annually, and Medicaid spending by 5.6% annually from 2021 to 2030. Consequently, escalating healthcare expenditure serves as a driving force behind the diabetic kidney disease market's expansion.
Technological advancements emerge as a pivotal trend gaining traction in the diabetic kidney disease market. Companies within this sector embrace novel technologies to fortify their market standing. For instance, in August 2022, Bloom Diagnostics, a US-based organization specializing in diagnostics and healthcare devices, introduced the Bloom Kidney Test. Integrated with the Bloom Smart System, this diagnostic tool evaluates kidney health by measuring cystatin C levels - a reliable indicator of kidney function. Categorizing kidney function into three stages - normal, mildly decreased, and decreased - the Bloom Kidney Test leverages cloud-based algorithms and AI technology within the Bloom Smart System. This integration combines test outcomes with pertinent health data such as medical history, lifestyle, and patient symptoms, facilitating comprehensive analysis and management.
Leading companies in the diabetic kidney disease market are actively innovating by developing new products such as medications tailored for chronic kidney disease (CKD), aiming for wider customer reach, increased sales, and revenue growth. These medications for CKD primarily focus on symptom management, slowing disease progression, and addressing complications arising from impaired kidney function. For instance, Bayer AG, a Germany-based pharmaceutical company, introduced Kerendia in August 2022 - a medication specifically designed to manage CKD associated with diabetes. Kerendia stands out as a non-steroidal, selective mineralocorticoid receptor antagonist, uniquely tailored for individuals with chronic kidney disease linked to type-II diabetes. Offering a distinctive treatment approach, Kerendia holds promise in slowing CKD progression and reducing the risk of kidney failure in this susceptible patient group.
In January 2023, AstraZeneca, a UK-based biotech and pharmaceutical giant, finalized the acquisition of Cincor Pharma Inc. for an undisclosed sum. This strategic move strengthens AstraZeneca's cardiorenal pipeline by integrating CinCor's baxdrostat (CIN-107), an aldosterone synthase inhibitor (ASI) aimed at lowering blood pressure in treatment-resistant hypertension. Cincor Pharma Inc., a US-based biopharmaceutical company, specializes in developing drugs for kidney disease management. AstraZeneca's acquisition bolsters its portfolio by incorporating innovative solutions such as baxdrostat, further solidifying its position in addressing cardiorenal complications and advancing therapeutic options for kidney disease management.
North America was the largest region in the diabetic kidney disease market in 2023. The regions covered in the diabetic kidney disease market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the diabetic kidney disease market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
*A selection of companies mentioned in this report includes*
· AstraZeneca plc
· Pfizer Inc.
· Novartis AG
· Bayer AG
· Sanofi SA
· Teva Pharmaceutical Industries Ltd.
· Bristol-Myers Squibb Company
· Sun Pharmaceutical Industries Ltd.
· Mylan NV
· Aurobindo Pharma Ltd.
· Fresenius SE & Co. KGaA
· F. Hoffmann-La Roche AG
· Abbott Laboratories
· Reata Pharmaceuticals Inc.
· Merck & Co.
· Mitsubishi Tanabe Pharma Corporation
· Johnson & Johnson pvt. Ltd.
· Eli Lilly and Company
· Allergan Inc.
· Endo International Inc.
· GlaxoSmithKline plc
· Hebei Changshan Biochemical Pharmaceutical Co. Ltd.
· Hikma Pharmaceuticals plc
· Fresenius Kabi AG
· AbbVie Inc.
· Boehringer Ingelheim International GmbH
· Chugai Pharmaceutical Co. Ltd.
· Daiichi Sankyo Company Limited
· Eisai Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/fscjrx
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