Portland, OR, Jan. 13, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global nephrology drugs market generated $14.50 billion in 2020, and is projected to generate $23.40 billion by 2030, witnessing a CAGR of 5.0% from 2023 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in incidence of chronic kidney diseases and technological advancements in developing countries drive the growth of the global nephrology drugs market. However, high treatment cost and lack of awareness regarding chronic kidney diseases restrain the market growth. On the other hand, supportive initiatives by governments for regulatory approvals create new opportunities in the coming years.
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Impact of Covid-19 on Nephrology Drugs Market-
- The Covid-19 pandemic led to delays in clinical trials of nephrology drugs and resulted in lowered usage of these drugs. Owing to worldwide lockdown, production activities were halted. Moreover, supply chain disruptions occurred too.
- The pandemic became a major inhibitor for the nephrology drug trials. It interrupted the clinical research across the globe and affected the management of ongoing trials and planning of future trials.
- However, market players and research institutes began clinical trials associated with Covid-19 to understand the effects of chronic kidney disease treatment drugs on patients suffering from Covid-19 infection.
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The report offers detailed segmentation of the global nephrology drugs market based on drug class, route of administration, distribution channel, and region.
Based on drug class, the ACE inhibitors segment contributed to the highest share in 2020, accounting for more than two-fifths of the total share, and is projected to continue its leadership status during the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 5.6% from 2023 to 2030. The report also analyzes the segments including calcium channel blocker, beta blockers, diuretics, and others.
Based on distribution channel, the retail pharmacy segment accounted for the largest share in 2020, contributing to around two-fifths of the total share of the global nephrology drugs market, and is expected to maintain its dominant share during the forecast period. However, the online pharmacy segment is estimated to witness the largest CAGR of 6.9% from 2023 to 2030.
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Based on region, North America contributed to the highest share in 2020, accounting for around two-fifths of the total share, and is expected to maintain its lead position in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the fastest CAGR of 7.7% during the forecast period. The other provinces studied in the report include Europe and LAMEA.
List of companies profiled of the global nephrology drugs market analyzed in the research include AstraZeneca, Akebia Therapeutics, Inc., AbbVie Inc., F. Hoffmann-La Roche, Amgen Inc., GlaxoSmithkline PLC., FibroGen Inc., Pfizer Inc., Johnson & Johnson Inc., and Teva Pharmaceutical Industries Limited.
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