Crowdsourcing of data to drive the Renal Anemia Treatment Market
The Renal Anemia Treatment Market is likely to scintillate going forward. With various cloud options to explore, the healthcare industry is expected to be at a newer high in the forecast period. In other words, organizations across the globe are advancing their downtime regarding digital business initiatives. They are swiftly moving towards the cloud for modernizing the environments, enhancing system reliability, supporting hybrid work models, and addressing the other new-fangled realities surfacing in recent times. This would be the outlook of the healthcare vertical in the upcoming period.
The Renal Anemia Treatment Market Share is expected to reach US$ XX Million between 2026 at a CAGR of 7.5%. Speedy development on the part of ICT does bring in new-fangled advantages like more autonomy to patients along with the promotion of interagency collaboration. As such, the ones with comorbidities and multidimensional problems would find themselves safe. This increased dependency is bound to drive the healthcare vertical going forward.
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.
- 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
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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.
Moreover, long-term renal anemia treatment with erythropoiesis-stimulating agents (ESAs) has been associated with increased systemic blood pressure and occurrence of seizures. Hypertension is a common side effect of intravenous use of erythropoiesis-stimulating agents. A significant side effect of erythropoiesis-stimulating agents is increased risk of thromboembolic complications.
Also, in patients with cancer, erythropoiesis-stimulating agents cause the tumor to grow. Therefore, the many side effects associated with the use of erythropoiesis-stimulating agents might hinder the growth of the renal anemia treatment market in the near future.
Erythrocyte stimulating agents and iron supplements are used in combination for renal anemia treatment. Among both product types, erythrocyte stimulating agents are estimated to gain major market revenue share in the global renal anemia treatment market due to their high price tag. The drugs for renal anemia treatment are available in both oral and injectable forms in the market.
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However, the injectable drugs are more preferred by doctors for renal anemia treatment and hence, by route of administration, the parenteral segment holds the majority share of the global renal anemia treatment market, in terms of revenue.
Among all distribution channels, the hospital pharmacies segment is expected to be most dominant segment in global renal anemia treatment market and will be followed by retail pharmacies. The mail order pharmacies segment is expected grow at a fast pace in the renal anemia treatment market.
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