The Global Renal Therapeutic Market is projected to gain impetus from the rising number of geriatric population across the globe. According to a report by Fortune Business Insights, titled, “Renal Therapeutics Market Size, Share and Global Trend by Application (Chronic kidney disease, Diabetes, Kidney stone disease, Kidney failure, Others), by Drug Class (Angiotensin-II receptor blockers, ACE Inhibitors, Calcium channel blockers, Beta-blockers, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Geography Forecast till 2026,” the global renal therapeutics market is likely to grow at a fast pace due to the increasing number of kidney diseases among the populace.
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- Bristol-Myers Squibb Company
- Amgen Inc
- Vifor Pharma Inc
- Novartis AG
- Merck & Co., Inc.
- Johnson & Johnson Services, Inc.
- Pfizer Inc.
- Bayer AG
The report classifies the global renal therapeutics market into four segments, namely, by drug class, by geography, by distribution channel, and by application. In terms of drug class, the market is further divided into calcium channel blockers, angiotensin-II receptor blockers, beta-blockers, ACE inhibitors, and others. By distribution channel, the market is grouped into retail pharmacies, hospital pharmacies, and online pharmacies. Diabetes, kidney stone disease, chronic kidney disease, kidney failure, and others are the sub groups of application segment. Amongst these, chronic kidney disease is expected to hold a higher share of the global real therapeutics market due to the increasing cases of this disease. But, adverse side effects of various treatments and exorbitant rates of treatment are few of the major factors that are expected to hamper the growth of global renal therapeutics market.
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Established Healthcare Infrastructure to Enable Growth in Asia Pacific
The global renal therapeutics market is divided into Latin America, Europe, Latin America, the Middle East and Africa, and Asia Pacific. Amongst these regions, in 2018, North America was projected to hold the largest share in the global renal therapeutics market. This is because of a rise in the number of surgical procedures for the treatments of cancer, kidney and other similar diseases. Also, the prevalence of chronic diseases has increased rapidly in this region. Moreover, developed countries of Europe and North America are expected to increase the demand for advanced and new renal therapeutics because of the improvement of healthcare infrastructure. Asia Pacific, on the other hand, is anticipated to exhibit a higher CAGR between the period of 2019 to 2026. The rising cases of kidney disorders and ongoing developments in healthcare infrastructure are likely to bring growth in Asia Pacific. Combined with this, the increasing awareness of the development of new drugs is also anticipated to favor market of this region during the forecast period. Governments as well as numerous healthcare organizations are the driving forces of these awareness programs.
Janssen Pharmaceutica, Inc., Vifor Pharma Inc., and Other Key Players Are Focusing on Development of New Drugs to Favor Market Growth
Janssen Pharmaceutica, Inc., a pharmaceutical company based in Belgium, announced the submission of a supplemental New Drug Application (sNDA) to the U.S. FDA in March 2019. The submission was for canagliflozin, the first diabetic drug used to treat chronic kidney diseases in type 2 diabetic patients. AstraZeneca, a multinational pharmaceutical headquartered in the U.K., announced in February 2019, that the Food and Drug Administration approved the company’s expanded label indication of dapagliflozin. It can be now used for the treatment of type 2 diabetes as well as moderate renal impairment. Previously, in June 2018, the Food and Drugs Administration approved the expansion of Mircera for the treatment of anemia that is associated with chronic kidney diseases. Mircera is a product of Vifor Pharma Inc., a prominent pharmaceutical company based in Switzerland.
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