The global renal insufficiency treatment market is poised for significant growth, having garnered a market value of USD 12 billion in 2022. The market is expected to accumulate a value of USD 35.28 billion by 2033, reflecting a compound annual growth rate (CAGR) of 10.3% during the forecast period from 2023 to 2033. This follows a CAGR of 5.8% in the historical period from 2018 to 2022.
The growth of the renal insufficiency treatment market can be attributed to several key factors, including the increasing number of patients suffering from chronic kidney disease (CKD), the rising adoption of advanced dialysis techniques, and the development of new and more effective medications for the treatment of renal insufficiency. As the prevalence of CKD continues to rise globally, there is a corresponding need for innovative and efficient treatment options.
Advanced dialysis techniques have revolutionized the management of renal insufficiency, enabling better patient outcomes and enhancing quality of life. Furthermore, ongoing research and development in pharmaceuticals are leading to the introduction of novel therapies that target the underlying causes of renal insufficiency, thus expanding treatment options for patients.
Which are Some Prominent Drivers of Renal Insufficiency Treatment Market?
Increasing prevalence of chronic kidney disease favoring the growth of market
The increasing prevalence of chronic kidney disease is one of the primary drivers of the renal insufficiency treatment market. According to the National Kidney Foundation, about 37 Billion people in the United States alone have chronic kidney disease. This high prevalence is driving demand for treatments and therapies to manage the condition.
Advancements in dialysis technology, such as the development of home-based and portable dialysis machines, are expanding access to treatment for renal insufficiency patients. These advancements are making it easier for patients to receive dialysis in a variety of settings, including their homes, which is improving their quality of life.
The development of new medications for the treatment of renal insufficiency is another driver of the market. Many pharmaceutical companies are investing in research and development to create new therapies that can slow the progression of chronic kidney disease and reduce the risk of complications.
The aging population is also a driver of the renal insufficiency treatment market, as the risk of chronic kidney disease increases with age. As the population continues to age, the demand for treatments and therapies to manage renal insufficiency is expected to increase.
Increasing awareness and education about chronic kidney disease and the importance of early detection and management is also driving the market. As more people become aware of the risks associated with chronic kidney disease, they are more likely to seek treatment and take steps to manage the condition.
Market Competition
Key players in the renal insufficiency treatment are Nipro Corp., Fresenius Medical Care AG & Co. KGaA, Baxter International, Inc., Medtronic Plc, Braun Melsungen AG, Asahi Kasei Medical Co., Ltd., Cantel Medical, Nikkiso Co., Ltd., JMS Co. Ltd., AstraZeneca
- Nipro Corporation produces a range of dialysis machines and equipment, including the Elisio®-H dialysis system, which features advanced safety and performance features to improve the dialysis treatment experience for patients.
- Fresenius Medical Care is committed to research and innovation in the field of renal insufficiency treatment. The company operates a global network of research and development centers focused on developing new therapies and technologies to improve the lives of patients with kidney disease.
Key Companies Profiled
- Nipro Corp.
- Fresenius Medical Care AG & Co. KGaA
- Baxter International, Inc.
- Medtronic Plc
- Braun Melsungen AG
- Asahi Kasei Medical Co., Ltd.
- Cantel Medical
- Nikkiso Co., Ltd.
- JMS Co. Ltd.
- AstraZeneca
Key Segments Profiled in the Renal Insufficiency Treatment Industry Survey
Treatment Type:
- Dialysis
- Medication
- Kidney Transplantation
End User:
- Dialysis Centres
- Hospital & Clinics
- Research & Academic Institutes
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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