The global chronic kidney disease market is expected to grow at a cagr of 5.2% during the forecast period of 2017–2023. A blood examination is one of the most important tests for diagnosing kidney disease because it helps to determine how well the kidneys are functioning. The blood test tests the amount of creatinine, a waste product, in the blood. The calculated glomerular filtration rate (eGFR) is used to determine how many milliliters of waste the kidneys will filter in a minute. Chronic kidney disease is described by the progressive loss of kidney function over time. It can lead to kidney failure if left untreated. Chronic kidney disease is commonly caused by type 1 or type 2 diabetes, high blood pressure, glomerulonephritis, interstitial nephritis, polycystic kidney disease, and other conditions. Drug administration can be used to treat the condition early on, and dialysis and kidney transplantation can be used to treat it later.
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Despite the current COVID 19 pandemic that has impacted much of the world's economies, equity stocks have risen marginally as a few businesses have managed to drive the new market. Furthermore, since the incidence of CKD is high and rising in many parts of the world, demand for these tests is expected to rise.
The rising prevalence of kidney diseases, the rising number of biopsy procedures, and the rising demand for new strategies for diagnosing chronic diseases are all driving the market forward. Furthermore, the availability of different diagnostic tests for kidney disorders has an effect on market development. During the forecast period, the growing number of market players is also expected to boost market growth. Furthermore, diagnostic firms are concentrating on technical advances in order to speed up disease diagnosis. Furthermore, diseases such as diabetes and cardiovascular diseases are on the rise, which is expected to drive up demand for the products over the forecast era. The rising prevalence of this condition, especially among the elderly, is expected to become a significant growth driver for the market over the forecast period.
On the other hand, rising competition among the various chronic kidney disease drugs on the market is expected to be a major limiting factor for market growth during the assessment period.
The growing number of people with kidney diseases in the United States, as well as the widespread use of diagnostic tests for detecting kidney failure and the the demand for new treatment options for kidney diseases, are driving the chronic kidney disease market in the United States. Because of the increasing prevalence of chronic kidney disease and the availability of better healthcare facilities, the United States is projected to be the largest chronic kidney disease market.
The demand in Europe is being driven by the medical device industry's growth and increased understanding of kidney disease risk factors. Furthermore, the growing diabetic population and significant investments in the medical device sector by major market players are propelling the market forward. The growing focus on the production of new medicines, rising government funding for research and development, and the availability of funds for research are driving Germany, the largest market for chronic kidney diseases.
The notable players are Abbott, Siemens, Sysmex, Beckman Coulter, F. Hoffmann-La Roche Ltd, ACON Laboratories, Inc., URIT Medical, Nova Biomedical, ARKRAY, OPTI Medical, 77 Elektronika, Randox Laboratories, Teva Pharmaceutical Industries Ltd., Amgen Inc., AstraZeneca Plc, Pfizer Inc., F. Hoffmann-La Roche Ltd., Sanofi S.A., GlaxoSmithKline Plc, AbbVie Inc., and Kissei Pharmaceutical Co. Ltd.
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