New York City, United States -- Since the COVID-19 infection flare-up in December 2019, the malady has spread to right around 100 nations around the world with the World Health Organization proclaiming it a general wellbeing crisis. The worldwide effects of the coronavirus sickness 2019 (COVID-19) are now beginning to be felt, and will essentially influence the Healthcare Industry in 2020.
Rise in the prevalence of chronic kidney disease is the key factor responsible for the growth of Renal Anemia Treatment market. According to a latest research by Persistence Market Research (PMR), the global Renal Anemia Treatment market is anticipated to have accounted for US$ 4,115.0 Mn, in terms of value, during 2017. The report on Renal Anemia Treatment further projects significant growth potential with average year-on-year growth rate pegged at 7.5% over the period of 2018-2026.
Renal Anemia Treatment Market: Key Dynamics
The global burden of chronic kidney disease continues to increase throughout the globe, which is driving the growth of the renal anemia treatment market. According to the National Kidney Foundation, 10% of the population worldwide is affected by the chronic kidney disease (CKD), which in turn, has increased the patient pool for renal anemia treatment.
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- Amgen Inc.
- Vifor Pharma Management Ltd.
- F. Hoffmann-La Roche Ltd
- Pfizer Inc.
- Sandoz International GmbH (Novartis AG)
- Janssen Pharmaceuticals, Inc. (Johnson & Johnson)
- Teva Pharmaceutical Industries Ltd.
- AMAG Pharmaceuticals
- Rockwell Medical
- Akebia Therapeutics
Increasing cases of chronic kidney disease and increasing prevalence of diabetes and hyper tension will push the market of renal anemia treatment in near future. Additionally, the development and identification of novel HIF stabilizers is likely to change the pathway for renal anemia treatment in near future.
HIF stabilizers under clinical trial hold promise as they provide a unique modality for renal anemia treatment through novel mechanisms of action. There are currently 4 HIF stabilizers that are in phase 2/3 clinical trials (roxadustat, daprodustat, vadadustat, and molidustat) and all of these are orally administered agents which will create huge opportunities for the growth of the renal anemia treatment market during the forecast period.
On the other side, drugs for renal anemia treatment come with a huge price tag. Even the good health insurance benefits do not necessarily cover biologics and thus, the out-of-pocket expenditure is too high. High cost for renal anemia treatment is, thus, the biggest factor that limits the treatment seeking rate with biologics and in turn, negatively impacts the growth of the renal anemia treatment market.