According to Value Market Research (VMR), a leading market research report provider, the Global Kidney/Renal Fibrosis Market is projected to exhibit CAGR 3.55% from USD 8,325 MN in 2017 and reach USD 10,487 MN by 2024. Progressive kidney diseases are on the rise among people owing to increasing prevalence of obesity and diabetes which has enormous economic consequences. Among various chronic kidney diseases, fibrosis is one of the critical case leading to the irreversible end-stage kidney damage. Fibrosis is a biological process which leads to the formation of access fibrous connective tissue in an organ/tissue in a repetitive way. Fibrosis can be of a volatile, benign, or pathological state. It can also occure in response to injury, this is called scarring, and if fibrosis rises from a single cell line, this is called a fibroma. The process is initiated when immune cells such as macrophages release soluble factors that stimulate fibroblasts. Kidney/renal fibrosis may be caused due to disease/infection in the kidney.
The report recognizes that the kidney/renal fibrosis treatment market is a highly beneficial market owing to the rising population base suffering from chronic kidney diseases and renal fibrosis. Moreover, increasing government support for developing novel therapies and rising investment in R&D on developing personalized medicine in various private and the public hospital is further propelling the market growth. Advent of the promising drug in the market coupled with the increasing medical expenditure and growing medical tourism rate is another major factor pushing the market growth uphill. Conversely, high cost associated with the treatment is projected to limit the growth. Nevertheless, various recent technological breakthrough such as point-of-care drug delivery systems and penetration of personalized drug and mono-therapeutic approached is likely to offer opportunity growth to the market over forecast period.
The report "Global Kidney/Fibrosis Market Report By therapeutics (Angiotensin II Receptor Blockers (ARBs), Angiotensin Converting Enzyme (ACE), Pirfenidone, Renin Inhibitors, and Vasopeptidase Inhibitors), diagnostic center (Hospital Testing, Clinics, And Home Treatment) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2017-2024" was recently updated with latest statistical data which can be used for understanding the market evolution and assist in exploring new opportunities.
The global kidney/renal fibrosis market report is segmented on the basis of therapeutic and diagnostic center. By therapeutic the market bifurcated into Angiotensin II Receptor Blockers (ARBs), Angiotensin Converting Enzyme (ACE), Pirfenidone, Renin Inhibitors, and Vasopeptidase Inhibitors. Among these ACE inhibitor is dominating the segment owing to the rising application of a various disorder such as heart, blood vessel, and kidney problems. By diagnostic center the market is segregated into hospital testing, clinics and home treatment. The hospital testing is leading the segment owing to the growing investment in R&D on developing personalized medicine in various private and the public hospital. Also, the rising number of hospital along with growing healthcare expenditure is another major factor boosting the growth of the segment.
From the geographic perspective, North America is the largest market for kidney fibrosis treatment due to the large base of patients suffering from chronic kidney disease (CKD). Key factors raising the growth of this market are growing base of the population suffering from chronic kidney diseases and high incidence rate of renal fibrosis among the population. Europe is the second largest market due to growing number of aging population and better healthcare facilities available in the region. At the same time, Asia is expected to show moderate growth rate in the next few years in global kidney fibrosis treatment market. Some of the key driving forces for kidney fibrosis market are increasing R&D investment, a large pool of patients, rising government funding and growing level of awareness among people.
This reports includes key players along with their market share:
Galectin Therapeutics, Merck & Co., F. Hoffman-La Roche Ltd., Pfizer Inc., InterMune Inc., ProMetic Life-Sciences Inc., La Jolla Pharmaceutical Company, Genzyme Corporation, and BioLine Rx Ltd
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