Smart Insulin Pen Market to Witness Widespread Expansion During 2019 – 2026
Diabetic Nephropathy Market Perceive Robust Expansion by 2020
Diabetic nephropathy is known as the most significant impediment occuMAMRng in the kidney glomerulus which render the patient morbid or even worse in majority of the cases. Characterized by macroalbuminuria, diabetic nephropathy is diagnosed when more than 300 milligrams of albumin are present in the urine in a day. The global market for diabetic nephropathy was valued at US$ 2,262.2 million in 2014. Registering a steady CAGR of 5.6%, the global market is slated to attain US$ 3,145.9 million market value over the forecast period 2014-2020.
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Key Market Dynamics
Prominence of diabetes in the world isn’t the solitary driver for growth of global diabetic nephropathy market. The market is also driven by growing expenditure for R&D in order to develop drugs for treating diabetic nephropathy. The occurrence of diabetic nephropathy is closely related hypertension, instable glomerular filtration rate and proteinuria, which are impacting the global market significantly. The importance of kidney glomerulus, which if implicated can spike up the mortality rate and morbidity in a given region, also urges patients to undertake treatment of diabetic nephropathy before the eleventh-hour. Unfortunately, the market’s growth is impaired when current medical technologies continue to be futile in terms of detecting diabetic nephropathy in early stages. Subjectively, the implications arising while opting combination therapies for treatment and coupling multiple models of treatment together is also inhibiting additional investments for pharmaceutical development. Procrastinated approval of such drugs is also jeopardizing the future prospects of companies producing drugs for treating diabetic nephropathy.
Segment Analysis
Evidently, combination therapies are gaining popularity as a mode of treating diabetic nephropathy, but the growth of global market continues to be discerned upon the most prominent model of treatment, which is Disease Modifying Therapies (DMTs). Furthermore, the global diabetic nephropathy market is fragmented into DMTs such as G protein-coupled receptors, calcium channel blockers, endothelin-A receptor antagonist, diuretics, angiotensin-converting enzyme inhibitors, antioxidant inflammation modulator, angiotensin receptor blockers, connective tissue growth factor inhibitors, renin inhibitors and monocyte chemo-attractant proteins inhibitors. In 2014, the market value for global DMT market reached US$ 2,093.5 million, which is projected to increase at 5.8% CAGR to attain US$ 2,929.8 million by the end of forecast period. ACE inhibitors are slated to be the largest DMT segment in the global diabetic nephropathy market over the forecast period.
Regional Analysis
Considerable rise in diabetic population and soaring incidences of disorders associated with kidneys makes Asia’s diabetic nephropathy market grow rampantly. Nevertheless, North America dominates the global diabetic nephropathy market after recording US$ 931.0 million value in 2014, which is projected to reach US$ 1,302.0 million by 2020 after enduring an estimated 5.7% CAGR. Europe is slated to be the second-most leading regional market, owing to increasing expenditure of R&D for diabetic nephropathy treatment.
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Key Market Players
Global leaders in pharmaceuticals industry continue to foray into the global market for diabetic nephropathy by instating research facilities and production plants for drugs. Although, developing drugs for treating diabetic nephropathy has been challenged by advent of alternative treatments and studies indicating adverse effects, thereby influencing the contribution of such companies in the global diabetic nephropathy market. Abbott Laboratories, Mitsubishi Tanabe Pharma Corporation, Novartis AG, Pfizer, Inc., Merck & Co., Inc., Sanofi, Reata Pharmaceuticals, Inc., AbbVie Inc., and Eli Lilly Company, among others, are some of the prominent players participating the growth of the global diabetic nephropathy market.
