Growing awareness among patients and healthcare experts about diabetes treatment, coupled with increasing combination therapy use, drives global diabetic nephropathy market growth
New York, Oct. 19, 2023 (GLOBE NEWSWIRE) — In 2022, global revenue for Diabetic Nephropathy reached approximately $2.37 billion, projected to grow at a 6.70% CAGR, hitting $4.86 billion by 2033. It holds a 2.0% revenue share in the $120.9 billion global renal disease market.
Diabetic nephropathy, a kidney condition linked to persistent hyperglycaemia and proteinuria in diabetics, poses a high risk. Kidney disease severity is gauged by glomerular filtration rate. The market expands due to rising diabetes prevalence.
Key drivers include the aging population with diabetic nephropathy, an expanding range of treatable conditions, and the demand for anti-diabetic drugs. Increased kidney disease rates and testing offer growth opportunities.
Market leaders invest heavily in R&D for product line expansion. They adopt various strategies like new products, agreements, mergers, investments, and collaborations to thrive in the competitive diabetic nephropathy market. Cost-effective offerings are crucial for survival and growth.
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|Market Revenue 2023||US$ 2.54 billion|
|Estimated Revenue 2033||US$ 4.86 billion|
|Growth Rate – CAGR||6.70%|
|No. of Pages||213 Pages|
|Market Segmentation||By Drug Class, Diabetes Type, Route of Administration, Distribution Channel, Region|
|Regions Covered||North America, Latin America, Europe, Asia Pacific, Middle East & Africa|
|Companies Covered||AstraZeneca (UK.), Pfizer Inc. (US.), Allergan, Inc. (Ireland), Bristol-Myers Squibb Company (US.), Endo International plc (Ireland), Dr. Reddy’s Laboratories Ltd (India), Sun Pharmaceutical Industries Ltd (India), Teva Pharmaceutical Industries Ltd (Israel)|
Diabetic Nephropathy Market Drivers 2023-2031
- Rising Diabetes Prevalence: The primary driver is the increasing global prevalence of diabetes, particularly type 2 diabetes. Diabetic nephropathy is a common complication of diabetes, and as more individuals develop diabetes, the pool of potential patients with diabetic nephropathy also expands.
- Aging Population: The global population is aging, and the risk of diabetic nephropathy increases with age. The growing number of elderly individuals, who are more susceptible to this condition, contributes to market growth.
- Increased Awareness: Greater awareness among both patients and healthcare professionals about the risks and management of diabetic nephropathy leads to early diagnosis and intervention, driving market growth.
- Combination Therapy: The trend towards using combination therapies, which involve multiple drugs to manage diabetic nephropathy, is gaining traction. This approach is more effective in treating complex conditions, and it fuels demand for various medications, boosting the market.
- Advancements in Treatment: Ongoing research and development efforts have led to the introduction of new and more effective treatments for diabetic nephropathy. Advancements in drug therapies, including the use of renin-angiotensin-aldosterone system (RAAS) inhibitors, have expanded treatment options and patient outcomes.
- Increased Incidence of Kidney Diseases: The global rise in the incidence of kidney diseases, often exacerbated by conditions like diabetes, further contributes to the growth of the diabetic nephropathy market.
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Key Questions Answered in the Report
What is the projected total market value of the Diabetic Nephropathy report in 2023?
The anticipated total market value of Diabetic Nephropathy is $4.86 billion by 2033.
Q2. Which companies dominate the Diabetic Nephropathy market share?
Leading companies such as AstraZeneca (UK), Pfizer Inc. (US), Allergan, Inc. (Ireland), and others held a significant market position in 2023.
Q3. What is the forecast period covered in the market report?
The market report encompasses the forecast period for Diabetic Nephropathy from 2023 to 2033.
Q4. What is the market value of Diabetic Nephropathy in 2023?
The market value of Diabetic Nephropathy in 2023 is $2.54 billion.
Q5. What are the primary drivers of market growth?
Market growth is primarily propelled by the increasing prevalence of diabetes and a growing pipeline of products.
Q6. What is the projected CAGR for the market during the forecast period (2023-2033)?
The market is expected to grow steadily at a CAGR of 6.70% during the forecast period (2023-2033).
Diabetic Nephropathy Market Challenges
- Rising Diabetes Rates: While the prevalence of diabetes is a driver, it’s also a challenge. The increasing number of diabetic patients puts greater pressure on healthcare systems and resources for diagnosing and treating diabetic nephropathy.
- Late Diagnosis: Diabetic nephropathy often remains undiagnosed until it reaches advanced stages. Late diagnosis can limit treatment options and outcomes, making it a significant challenge in managing the disease.
- Comorbidities: Diabetic nephropathy often coexists with other complications of diabetes, such as diabetic retinopathy and neuropathy. Managing multiple comorbid conditions can be complex and challenging.
- Medication Side Effects: Some medications used to treat diabetic nephropathy may have side effects, and balancing the benefits with potential risks can be difficult. Navigating this fine line is a challenge for healthcare providers and patients.
- Health Disparities: Socioeconomic and racial disparities in healthcare access and outcomes can affect the management of diabetic nephropathy. Addressing these disparities is a challenge in achieving equitable care.
- Insurance and Reimbursement Issues: Patients may face insurance and challenges when accessing necessary treatments and therapies. These issues can impact their ability to afford and receive appropriate care.
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Diabetic Nephropathy Market Future Outlook
The Diabetic Nephropathy market appears promising, with projected growth driven by an expanding diabetic patient population, increased awareness, and a burgeoning pipeline of treatment options. Anticipated to reach a total market value of $4.86 billion by 2033, leading pharmaceutical companies, including AstraZeneca, Pfizer, and Allergan, hold significant market positions. The forecast period from 2023 to 2033 is marked by a steady CAGR of 6.70%, ensuring a positive trajectory. However, challenges, such as late diagnosis and high healthcare costs, underscore the need for continued research, improved diagnostics, and accessible, cost-effective treatments to effectively manage this prevalent complication of diabetes.
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Originally published at https://www.einpresswire.com/article/662894815/global-sales-of-diabetic-nephropathy-market-is-expected-to-accelerate-at-a-whopping-6-70-cagr-reaching-us-4-86-billion-by-2033-persistence-market