- Nearly 10% of the global population is affected by CKD, creating sustained opportunities in renal anemia treatment.
- Hospital and retail pharmacies are expected to drive growth.
- Higher cost of renal anemia treatment is hampering market growth.
Increasing prevalence of chronic kidney diseases is generating a substantial demand for renal anemia treatment. As per the latest research study published by Research Report Insights, the renal anemia treatment market was valued at $4.1 billion in 2017 and is likely to carry promising aspects over the assessment period. The research report on renal anemia treatment market also estimates that the market will grow at a y-o-y of over 7% during the forecast timeline of 2018-2026.
High-Scale Prevalence of Chronic Kidney Diseases Necessitate Adoption of Renal Anemia Treatment
The alarming rates of chronic kidney disease is on a consistent rise across the globe, which has necessitated the adoption of renal anemia treatment methods. As per the National Kidney Foundation, nearly 10% of the global population is affected by chronic kidney disease (CKD), which has subsequently created sustained opportunities for adoption of renal anemia treatment. Bolstering cases of chronic kidney disease and rising prevalence of hyper tension & diabetes will increase the scope of renal anemia treatment adoption in the foreseeable future. In addition to that, identification as well as development of HIF stabilizers is foreseen to influence renal anemia treatment adoption in the future.
However, medicines for renal anemia treatment have their own adversities associated. The great insurance benefits do not essentially cover biologics and thereby, the extra expenditure is very high. Higher cost of renal anemia treatment is, therefore, one of the biggest factors arresting adoption rate by a considerable margin.
By distribution channel, the hospital pharmacies segment are likely to lead, owing to the high inclination of customers for authentic drugs. Retail pharmacies are likely to follow the trail and remain the second most lucrative distribution channel in the renal anemia treatment market. In addition, the mail order pharmacies are expected to register exponential growth in the renal anemia treatment market over the forecast period.
Various cases of renal anemia are treated using either erythrocyte stimulating agents or iron supplements. Among the aforementioned product types, erythrocyte stimulating agents are foreseen to hold the major pie of the global market share. In terms of forms, renal anemia treatment drugs are widely available in two forms, oral and injectable. Injectable remain the highly preferred form of consumption by doctors.
Market Players Focus on Offering Reliable Products with High Value for End-Users
The renal anemia treatment market report features some of the leading players operating in the global market space, including F. Hoffmann-La Roche Ltd, Johnson & Johnson Services Inc., Amgen Inc., Novartis AG, Pfizer Inc., Vifor Pharma Management Ltd., Rockwell Medical, Teva Pharmaceutical Industries Ltd., Akebia Therapeutics, AMAG Pharmaceuticals, and others. Key players operating in the renal anemia treatment market space are vying to offer authentic products for boosting customer confidence. Some of the key players are entering into strategic collaborations to combine their expertise and know-how, which would result in reliable products offering high value to the end-users.