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The global renal anemia therapeutics market size is estimated to grow by USD 2.08 billion, at a CAGR of 7.59% between 2023 and 2028.
The frequency of new drug approvals by the US FDA in the global renal anemia therapeutics market has witnessed an upward swing in momentum in the past few years. For instance, in April 2021, the U.S. Food and Drug Administration approved Farxiga, a drug manufactured by AstraZeneca. This is effective against kidney dysfunction. Farxiga is an efficient drug to improve kidney outcomes and reduce the probability of cardiovascular death in patients with CKD. Similarly, in July 2021, the FDA approved Kerendia (finerenone), a tablet that can be used to reduce the risk of kidney dysfunction. Thus, such approvals will result in the launch of new drugs, which will drive market growth during the forecast period.
Technavio has segmented the market into Type, Distribution Channel, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the IV segment will be significant during the forecast period. Medications administered through the IV route account for the leading segment in the global renal anemia therapeutics market due to increasing adoption and ease of absorption. Besides, ferric carboxymaltose Sucrose Dextran and others such as ferumoxytol and isomaltoside Ferric carboxymaltose is an iron complex that consists of a ferric hydroxide core that is stabilized by a carbohydrate shell. Sucrose is one of the oldest IV iron drugs.
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The IV segment was valued at USD 2.46 billion in 2018. The first IV iron product in the market was high molecular weight iron dextran. However, the side effects of high molecular weight dextran products resulted in their removal from the market. Low molecular weight dextran products are the least expensive IV iron drugs that can be administered in a large single dose. The high demand for renal anemia therapeutics is being bolstered by the increasing frequency of product approvals in the IV iron drugs segment, which will result in the launch of several new drugs and drive the growth of the IV drugs segment in the global renal anemia therapeutics market during the forecast period.
Hospital pharmacies include pharmaceuticals that are purchased directly by hospitals from different pharmaceutical companies and used for the treatment of either outpatients or inpatients. The renal anemia drugs that are found in hospital pharmacies contain epoetin alfa, epoetin beta, and others. The primary aim of hospital pharmacies is to procure, store, and sell medications to patients in hospitals. Besides, the reach and influence of hospital pharmacies will continue to increase as they purchase or acquire controlling stakes in physician practices. Thus, such factors will drive market segment growth during the forecast period.
Retail pharmacists sell medicine and medical-related products for renal anemia therapeutics to the general public and medical practitioners. Retail pharmacies are independent pharmacies or chain pharmacies. Retail pharmacies maintain records of dispensed medications and patient information. This documentation is essential for record-keeping, patient history, and potential future interactions. In addition to that, retail pharmacies are often located in easily accessible locations, including urban and suburban areas. Thus, such factors will contribute to the growth of retail pharmacies, which will strengthen market growth during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America dominates the renal anemia therapeutics market in the region due to the increasing healthcare expenditure in countries such as the US and Canada. In addition, factors such as significant investment in the treatment of CKD and associated ailments such as renal anemia and the presence of several key market players make the US a significant contributor to the revenue of the renal anemia therapeutics market in the Americas.
Furthermore, revved approvals for certain formulations will boost the market. This is because these designations will provide fast approvals for the pipeline products and market exclusivities for the already approved drugs. This will encourage more vendors to conduct R&D activities and enter the market. In April 2021, The US FDA granted approved Farxiga oral tablets to reduce the risk of CKD. Additionally, The Patients' Access to Treatments Act, passed in March 2015, enables individuals to obtain proper treatments and limits healthcare costs. The law restricts cost-sharing requirements for medications and makes required medicines available for more individuals by reducing out-of-pocket expenses. Hence, such factors are expected to drive market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Akebia Therapeutics Inc.: The company offers renal anemia therapeutics namely Vadadustat.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth and forecasting. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The growing geriatric population is the key factor driving market growth. The prevalence of chronic diseases like CKD, is high among the aging population. There is a direct relationship between aging and susceptibility to infections, as it deteriorates the immune system. Apart from the impaired functioning of the immune system, the reduced functioning of organs also increases the chances of acquiring diseases such as CKD.
Moreover, the rise in the aging population led to an increase in expenditure on healthcare, disease diagnosis, and treatment. In addition, the elderly population requires renal anemia therapeutics regularly due to their low immunity and metabolism. Therefore, the increasing aging population will increase the adoption of renal anemia therapeutics, which will subsequently augment the growth of the market during the forecast period.
The growing adoption of biosimilars is the primary trend shaping market growth. A biosimilar, a therapeutic agent emulating a reference biologic, aligns with prevailing market trends and analysis. These biological medications undergo stringent regulatory processes, ensuring conformity to safety, efficacy, and quality standards akin to their reference counterparts. Biosimilar medications have the advantage of perhaps being less expensive than reference medication, which increases patient access and reduces costs in already tight healthcare budgets.
Additionally, in comparison to biologics, biosimilars are relatively more economical and provide similar efficacy and safety as the reference products. Market players like Pfizer offer biosimilar erythropoiesis-stimulating agents. Retacrit (Pfizer) acts as a biosimilar to Epogen/Procrit for the treatment of anemia associated with conditions such as CKD. Thus, the widespread availability and adoption of biosimilars will increase the sales of renal anemia therapeutics and will drive market growth during the forecast period.
Side effects of oral administration of renal anemia drugs is a challenge that affects market growth. The limitations associated with conventional oral therapies to treat anemia will reduce the demand for oral iron drugs. Oral therapies were considered the gold standard for the treatment of iron deficiency. Nevertheless, treating patients with oral iron drugs can be difficult due to poor gastrointestinal (GI) tolerance or absorption. Oral iron drugs need to be administered in multiple daily doses and have been associated with several side effects associated with GI tolerance.
Moreover, the absorption of oral iron drugs is limited by the decreased GI absorption caused by inflammation due to CKD. Inflammation increases the production of hepcidin - a protein produced in the liver - that controls iron homeostasis. The protein restricts the absorption of iron from the intestine and limits the release of iron from macrophages and hepatocytes. Therefore, side effects of oral administration of renal anemia drugs may impede market growth during the forecast period.
The market analysis and report includes the adoption lifecycle of the market forecast, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market research and growth strategies.
Global Renal Anemia Therapeutics Market Customer Landscape
The renal anemia therapeutics market report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends from 2018 to 2028.
Renal Anemia Therapeutics Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.59% |
Market Growth 2024-2028 |
USD 2.08 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.97 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akebia Therapeutics Inc., Amgen Inc., AstraZeneca Plc, Bayer AG, Covis Pharma GmbH, CSL Ltd., Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., F. Hoffmann La Roche Ltd., FibroGen Inc., GlaxoSmithKline Plc, Japan Tobacco Inc., JCR Pharmaceticals Co. Ltd., Kirin Holdings Co. Ltd., Mitsubishi Chemical Group Corp., Pfizer Inc., Pharmacosmos AS, Sun Pharmaceutical Industries Ltd., Travere Therapeutics Inc., and Astellas Pharma Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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