The market is estimated to grow at a CAGR of 6. 5% from 2020 to 2027. High prevalence of chronic diseases leading to kidney diseases, and favorable reimbursement policy for the kidney disease treatments are the major factorsdriving the growth of the kidney disease market.
New York, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Kidney Disease Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type ; End User, and Geography" - https://www.reportlinker.com/p05978086/?utm_source=GNW
However, the undiagnosed cases of kidney diseaseare hindering the growth of the market.
Chronic kidney disease (CKD) is a common and life-threatening condition that affects 1 in 10 people worldwide.High blood pressure and diabetes were the two major causes in 75% of kidney failure cases between 2015 and 2017.
Moreover, according to a study published by the National Kidney Foundation in 2020, around 35.0% of the diabetic population above age 20 years would develop chronic kidney disease over the period of time.
As per the data published by the National Kidney Foundation Inc., in 2020, CKD is likely to cause more deaths than prostate cancer or breast cancer. It is an under-recognized emergency health condition among people. 1 in 3 American adults (about 80 million people) is at a risk due to CKD.
According to the estimates given by the Centers of Disease Control and Prevention (CDC) in 2020, 1 in 3 adults with diabetes and 1 in 5 adults with high blood pressure might have chronic kidney disease. In 2015, 30.3 million people in the US had diabetes as per the American Diabetes Association. According to the CDC, in 2014, around 118,000 people in the US started the treatment for end-stage renal disease, and the number of people taking this treatment is expected to increase as more people become aware of this condition. Moreover, the CDC states that around 96% of the people with kidney damage are not aware of having chronic kidney disease, which indicates the underlying market prospective in the kidney disease market. These factors are expected to enhance the market growth during the forecast period.
The global kidney disease market is segmented based onproduct type and end user.Based on product type, the market is segmented into diagnosis and treatment.
The diagnosis segment held the largest share of the market in 2019 and the same segment is anticipated to register the highest CAGR in the market during the forecast period.In terms of enduser, the kidney disease market has been segmented into hospitals, diagnostic laboratories, and others.
Saudi Center for Organ Transplantation,South Australian Health and Medical Research Institute,World Health Organization, Pharmaceuticals and Medical Devices Agency, European Medical Association, World Trade Organization, Pharmaceutical Research and Manufacturers of America, and European Federation of Pharmaceuticals Industries Associations are among the essential secondary sources referred to while preparing this report.
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