Global Rare Kidney Diseases Market

Top 5 Insights From The Rare Kidney Diseases Market Report 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Rare Kidney Diseases Global Market Report 2024, the rare kidney diseases market is expected to show promising growth in the forecast period.

The rare kidney diseases market has witnessed rapid expansion, showcasing promising growth trends over recent years. Key statistics unveil a compelling narrative:

  • In 2023, the market size reached $2.52 billion.
  • By 2024, it surged to $2.8 billion, indicating a compound annual growth rate (CAGR) of 11.0%.

Drivers of Growth in Historic Period

Several factors contributed to the robust growth observed in the historic period:

  • Increased disease recognition
  • Orphan drug designations
  • Patient advocacy and awareness
  • Global collaborations in research

Anticipated Growth in the Forecast Period

Projections for the future depict a continued upward trajectory:

  • Expected to reach $4.07 billion by 2028
  • Foreseen CAGR of 9.8%

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Factors Fueling Forecasted Growth

The anticipated expansion in the forecast period can be attributed to:

  • Emergence of gene therapies
  • Increasing investment in rare disease research
  • Growing collaboration between stakeholders
  • Global initiatives for rare diseases

Noteworthy Trends Ahead

Key trends expected to shape the market in the forecast period include:

  • Patient-centric approach
  • Real-world evidence and data analytics
  • Regulatory developments
  • Telemedicine and remote monitoring
  • Global health initiatives

Government Catalysts Fueling Rare Kidney Disease Market Surge

Government Initiatives

Government interventions and funding play a pivotal role in propelling market growth:

  • Support aimed at enhancing disease surveillance and improving patient quality of life.
  • Notable initiatives such as the investment programs by The United States House Committee on Appropriations.

Funding Allocation

Allocation of funds towards kidney disorders:

  • $8.5 million for CDC’s chronic kidney disease program
  • $1 million for the National Living Donor Assistance Center

Impact on Market Growth

Government initiatives and funding stimulate market expansion, fostering a conducive environment for advancements in treatment and research.

Innovative Therapies Emerge As Key Catalysts In Rare Kidney Disease Market Evolution

Product Innovation

Innovation drives market evolution, with companies focusing on creating novel treatment solutions:

  • Example: STADA Arzneimittel AG’s introduction of Kinpeygo (budesonide) for treating immunoglobulin A nephropathy (IgAN).

AstraZeneca’s Strategic Acquisition

Strategic acquisitions bolster market presence and product portfolios:

  • AstraZeneca’s acquisition of CinCor Pharma Inc. for $1.8 billion in February 2023.
  • Aimed at strengthening its chronic renal illness and hypertension portfolio.

Market Segmentation and Regional Insights

Segmentation Overview

The rare kidney diseases market is segmented based on:

  1. Target Indication
  2. Type of Molecule
  3. Route of Administration

Leading Region

North America emerged as the leading region in the rare kidney disease market in 2023, reflecting the region’s prominence in driving advancements and investments in healthcare.

Conclusion: Charting a Path Towards Progress

The rare kidney diseases market presents a landscape ripe with opportunities and innovations. With substantial government support, burgeoning research initiatives, and a surge in novel therapies, the market is poised for remarkable growth in the coming years. As stakeholders continue to collaborate and prioritize patient-centric approaches, the journey towards combating rare kidney diseases becomes increasingly promising.

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