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The global polycystic kidney disease drugs market is estimated to garner a revenue of USD 732 Million by the end of 2033 by growing at a CAGR of ~7% By 2033
NEW YORK, UNITED STATE, January 16, 2023 /EINPresswire.com/ — Global Polycystic Kidney Disease Drugs Market Key Insights
During the forecast period of 2023-2033, the global polycystic kidney disease drugs market is expected to reach an estimated value of USD 732 Million by 2033 by expanding at a CAGR of ~7%. The market further generated revenue of USD 451 Million in the year 2022. Major key factors propelling the growth of the global polycystic kidney disease drugs market are the higher prevalence of chronic kidney disease resulting in death and complex medical issues. The prevalence of chronic kidney disease is estimated to be around 14% of the global population based on the data provided by the Centres for Disease Control and Prevention, almost 37 million Americans were stated to be suffering from CKD.
Market Definition of Global Polycystic Kidney Disease Drugs Market
Since the prevalence of polycystic kidney disease rising, the requirement for drugs and medicine is also up-surging. The major cause of polycystic kidney disease is estimated to be gene mutation while it can also develop on its own and can also result in serious medical complications such as, high blood pressure and kidney failure. Hence, higher demand for medicines and rising dependency on drugs to treat the disease are estimated to propel the market growth of the market over the forecast period.
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Global Polycystic Kidney Disease Drugs: Growth Drivers
The growth of the global polycystic kidney disease drugs market can majorly be attributed to the up-surged number of trials of drug development boosted by the increasing investment. XORTX Therapeutics Inc. conducting a trial, PK Clinical Trial to represent an increment in the oral bioavailability based on the control formulation of ADPKD’s late-stage phase 3 registration trial. On the other hand, the market growth can also be attributed to the rising acquisition to share unique methods and respective technology to develop drugs and medicines. For instance, NovaTarg is acquired by Pano Therapeutics, Inc to empower the company’s capabilities of drug discovery to upgrade its portfolio.
The global polycystic kidney disease drugs market is also estimated to grow majorly on account of the following:
Rising cases of autosomal dominant polycystic kidney diseases (ADPKD)
Growing government initiatives to spread awareness about PKDs
Up-surged healthcare spending across the globe
Escalated number of R&D activities
Significant growth in the disposable income
Global Polycystic Kidney Disease Drugs Market: Restraining Factor
The availability of drugs for polycystic kidney disease is quite less in the market and many major key players are still in the line to getting approval for the respective drugs is expected to be the major hindrance to the growth of the global polycystic kidney disease drugs market during the forecast period.
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Global Polycystic Kidney Disease Drugs Market Segmentation
By Type {Autosomal Dominant Polycystic Kidney Disease (ADPKD), Autosomal Recessive Polycystic Kidney Disease (ARPKD), and Others}
The autosomal dominant polycystic kidney disease segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to rising cases of autosomal dominant polycystic kidney disease across the globe boosting the demand for polycystic kidney disease drugs. The annual rate of newly diagnosed ADPKD cases is anticipated to be around 5,900 solely in the United States.
By Treatment (Medication, Surgery, and Others)
By Diagnosis (Ultrasound, CT scan, and MRI Scan)
By End User (Hospitals, Specialty Clinics, and Others)
By Region
The North America polycystic kidney disease drugs market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. The growth of the market is anticipated by rising awareness toward the early diagnosis of chronic kidney diseases in the region backed by educational and technological advancement and increasing annual income per capita in the region. As per the data provided by the World Bank, it was noticed that the annual income per capita in the United States reached USD 69287.5 in 2021.
The market research report on global polycystic kidney disease drugs also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
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Key Market Players Featured in the Global Polycystic Kidney Disease Drugs Market
Some of the key players of the global Otsuka Pharmaceutical Co., Ltd., Exelixis, Inc., Celgene Corp, XORTX Pharma Corp., ManRos Therapeutics, Palladio Biosciences, Regulus Therapeutics, Inc., Kadmon Holdings, Inc., Reata Pharmaceuticals, Inc., PanoTherapeutics, Inc., and others.
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