The size of the European Renal Disease Therapeutics Market is forecasted to be growing at a promising rate between 2022 to 2027. Europe is accounted to have the second-highest share in the market owing to increasing awareness about renal diseases.
Factors such as the high prevalence of diabetics, hypertension, an increased incidence of kidney failure, a lack of kidney donors for transplantation, a tedious kidney transplant procedure, and increasing demand for home peritoneal dialysis treatment stimulate the European renal disease therapeutics market during the analysis market. There is a growing number of patients with chronic renal failure due to early diagnosis and decreased drug efficacy. According to the National Kidney Foundation, approximately 10.66% of the world's population suffers from chronic renal disease, and millions die each year. According to the report published in The Lancet Journal, more than 40% of people needed dialysis for severe chronic kidney disease in 2020.
Besides, the prevalence rate of diabetes is higher, resulting in long-term renal diseases, which can also drive market growth. According to the International Diabetes Federation, an estimated 465 million adults (20-79 years old) were living with diabetes, and by 2045 that number is predicted to increase to 710 million. Moreover, one of the leading causes of kidney failure is diabetes, supported by several clinical data.
Launch of technologically advanced products coupled with clinical trials of blood purification, especially home care products. These innovations aim to obtain satisfactory and effective results in patients with renal failure etc., boosting the market's overall growth during the review period.
However, factors such as late recognition of renal disease due to negligence, lack of institutions and coordination of assisted healthcare providers, and insufficient knowledge hinder the growth of the European renal disease therapeutics market.
This research report on the European renal disease therapeutics market has been segmented and sub-segmented into the following categories:
By Application Mode:
In 2020, the largest market share was reported to be dominated by the United Kingdom in the European region. This region has a high incidence of renal diseases, which will drive the market like chronic kidney disease (CRF, nephritis, acute CRF, and kidney failure. According to the NKD estimate, the geriatric population suffering from renal diseases is increasing. The number of patients continues to increase at a rate of 6-8% per year, and they are receiving treatment with kidney transplantation or dialysis to stay alive. Renal diseases are more common in women, with 15% than in men reported at 12%. In renal disease, the incidence was reported at 6.15% of the population. Over 2.68 million people aged 16 and over in England are predicted to have stage 3 to 5 chronic renal disorder.
Germany is predicted to be the fastest-growing region during the forecast period in the European region due to the increasing prevalence of causes of kidney disease, large geriatric population, growing demand for diagnostic tests, and the wide availability of advanced healthcare facilities. In 2019, 13% of people had some kind of chronic renal disease. The prevalence of stage 3 to 5 CRF is higher in women than in men, 7.48% versus 4.72%. In the German adult population, the prevalence of CRF is estimated to be between 3%-8%
KEY MARKET PLAYERS:
Some of the key players influencing the Europe Renal disease Therapeutics market are Amgen Inc., Merck & Co., Inc., Bristol-Myers Squibb Company, Hoffmann-La Roche Inc., Shire Inc., Fresenius Medical Care, Baxter International, Davita Healthcare Partners.
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