Global Nephrology Drugs Market Envisioned to Generate a Revenue of $21,454.5 Million, Rising at a CAGR of 6.0% over the Estimated Period from 2021-2028 [170-Pages] | Research Dive
The global nephrology drugs market is expected to see striking growth by 2028, owing to the increasing prevalence of kidney diseases among millennials. Regionally, the North America region is expected to have huge growth opportunities for the market.
NEW YORK, July 8, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Nephrology Drugs Market by Type (ACE Inhibitor, Calcium Channel Blocker, Diuretics, and Others), Route of Administration (Oral and Parenteral), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028".
As per the report, the global nephrology drugs market is anticipated to generate $21,454.5 million in revenue and grow exponentially at a healthy CAGR of 6.0% during the forecast period from 2021-to 2028.
Request an Exclusive PDF Sample of the Nephrology Drugs Market (Including Tables, TOC & Figures)
Dynamics of the Nephrology Drugs Market
Increasing cases of kidney diseases like kidney failures and kidney fibrosis among millennials because of lifestyle changes such as eating unhealthy food, less physical activity, is expected to bolster the growth of the market during the analysis period. Besides, growing numbers of the geriatric population all across the globe are further predicted to fortify the growth of the nephrology drugs market over the estimated period. In addition, the rising development in launching new nephrology drugs products is expected to create extensive growth opportunities for the market throughout the forecast period. However, the high price of nephrology drugs may impede the growth of the market during the analysis period.
Covid-19 Impact on the Nephrology Drugs Market
The rise of the Covid-19 pandemic has devastated the growth of the nephrology drugs market, likewise, several other industries. Due to the rapid transmission of novel coronavirus and its severe symptoms, people have knowingly delayed their regular hospital visits and health professionals have delayed many renal surgeries. In addition, many pharmaceutical industries have slowed down the manufacturing of nephrology drugs and put more effort into the production of coronavirus vaccines. All these factors have declined the growth of the market throughout the crisis.
Segments of the Nephrology Drugs Market
The report has been divided the nephrology drugs market into segments based on type, route of administration, distribution channel, and region.
- By type, the ACE inhibitor nephrology drugs sub-segment is expected to be most profitable and is expected to generate a revenue of $8,581.8 million during the analysis period. The increasing use of ACE inhibitor drugs for the treatment of various chronic diseases such as kidney disease, heart failure, cancer, etc., is expected to propel the growth of the nephrology drugs market sub-segment during the forecast period.
- By route of administration, the oral sub-segment is projected to be most lucrative and is predicted to garner a revenue of 14,052.7 million during the estimated timeframe. The increasing prevalence of kidney diseases in old ages and rising convenience for the intake of oral drugs than invasive procedures are expected to fuel the growth of the nephrology drugs market sub-segment over the analysis period.
- By distribution channel, the retail pharmacies sub-segment is predicted to be most productive and is expected to generate a revenue of $9,010.9 million during the forecast period. The rising preference of people to purchase the medicines from retail pharmacy stores where pharmacists also explain to customers how to take doses is expected to uplift the growth of the nephrology drugs market sub-segment during the estimated period.
- By region, the North America region of the nephrology drugs market is expected to have the largest share of the market and is anticipated to generate a revenue of $8,581.8 million during the analysis timeframe. The growing geriatric population and strong presence of major pharmaceutical companies in this region are expected to drive the regional growth of the market over the forecast timeframe.
Key Players of the Market
The major players of the nephrology drugs market include
- AstraZeneca
- Teva Pharmaceutical Industries Limited
- AbbVie Inc.
- Pfizer Inc.
- Akebia Therapeutics, Inc.
- Johnson & Johnson Inc.
- Amgen Inc.
- GlaxoSmithkline PLC.
- F. Hoffmann-La Roche
- FibroGen Inc.
These players are mainly working on the development of new business tactics and strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire the leading position in the global industry.
For instance, in November 2021, Pfizer Inc., a leading American multinational pharmaceutical and biotechnology corporation, has announced its acquisition with Trillium Therapeutics Inc., a renowned immune-oncology company that develops innovative therapies for treating various types of cancers. With this acquisition, the companies are aiming to improve the hematology portfolio which will enhance the outcomes for individuals suffering from blood cancers all across the globe.
Furthermore, the report also presents various important aspects including product portfolio, SWOT analysis, the financial performance of the key players, and the latest strategic developments.
More about Nephrology Drugs Market:
- Rising Kidney Disorders to be the Key Cause of Novel Nephrology Drug Developments
- Acquisitions Like That of Sanifit Therapeutics by Vi for Pharma to Boost the Growth of Global Nephrology Drugs Market
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