The size of the North America Renal Disease Therapeutics Market is forecasted to be growing at a robust CAGR between 2022 to 2027. North America is projected to show the highest share in the market owing to the increasing incidence of renal failure and increasing awareness about renal diseases.
The market for renal diseases in North America is expected to grow significantly due to the proliferation of chronic and acute diseases and growing awareness among the people about the disease prevalence. On the other hand, the surge in the patient base of hypertension and lifestyle-associated diseases is the primary reason for increasing kidney-related conditions expected to increase the demand for treatment devices during the forecast period. Growing geriatric population base associated with kidney-related diseases and increasing renal disease are majorly propelling the market growth. Because of the increased prevalence of renal diseases, doctors are increasingly turning to advanced renal disease treatment devices, which allow for faster treatment and recovery.
The expansion of this market is being fuelled by technological improvements such as point-of-care drug delivery systems and an increasing emphasis on maintaining one's personal quality of life. Moreover, the development of safe and effective innovative treatments for renal disease treatment supports the market's growth.
Furthermore, supportive government regulations, expanding research and development activities, and increased use of personalized medicine are projected to drive the renal disease treatment devices market growth throughout the forecast period. In addition, other market factors, such as improved healthcare infrastructure and the launch of innovative medicines in renal disease treatment devices, are projected to increase the market throughout the projection period, particularly in developed nations such as the United States and Canada.
Adverse societal effects, such as disparities in renal transplant therapy, the expiration of patents on several branded medicines for late-stage CKD, and shifting reimbursement scenarios in some key countries, are limitations on the renal diseases market growth.
This research report on the North American renal disease therapeutics market has been segmented and sub-segmented into the following categories:
By Application Mode:
Geographically, the North American renal diseases market is witnessing significant growth owing to the increasing number of individuals with insurance due to the Affordable Care Act and increasing healthcare expenditure. The largest market growth contributors, such as the United States and Canada, significantly contribute to the North American regional market growth. The U.S. dominated the renal disease market and is most likely to continue its domination in the coming years. The prevalence of chronic diseases is expected to drive renal disease treatment devices in the U.S. Also, favorable reimbursement policies, availability of advanced healthcare infrastructure, and government funding for R&D providing lucrative opportunities for market growth. As a result, the increasing adoption of technologically advanced devices, especially in the hospitals, fueling the growth of the U.S. market during the forecast period. The ESRD reimbursement system, which integrates payments for dialysis, medicines, and lab tests into one single payment to limit the cost of dialysis treatments, was launched in the United States on January 1, 2011. It is projected to drive the market at a rapid pace.
The Canadian market is anticipated to witness a promising share in the market due to the growing geriatric population base, increasing healthcare spending, and evolving healthcare sector.
KEY MARKET PLAYERS:
Some of the key players in this 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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