New York: According to the Market Intelligence Company Persistence Market Research. PMR’s analysts forecast that the diabetic nephropathy market will register a 5.6% CAGR between 2014 and 2020, which means that the market will go from an estimated value of US$2,262.2 million in 2014 to US$3,145.9 million in 2020.
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Nephropathy is a term that denotes the deterioration of kidneys. Diabetic nephropathy(DN) – a diseases affecting the kidney glomerulus – is a widely prevalent condition among diabetics. This condition has been identified as one of the leading causes of chronic kidney diseases—and other long-term complications—among those suffering from Type 1 and Type 2 diabetes.
During Kidney Week 2014 held in Philadelphia, a team of researchers from the Leiden University Medical Center, The Netherlands, reported that diabetics face a considerably higher incidence of diabetic nephropathy than medical experts current assume. These findings were based on an autopsy study of type 1 and type 2 diabetes patients. This trend will likely continue as millions of more people are diagnosed with diabetes owing to poor dietary habits and sedentary lifestyles.
Diabetics Abound, But Diabetic Nephropathy Market Growth will Remain Modest
Despite statistics increasingly revealing the urgency of the situation, the diabetic nephropathy market is currently in dire need of an effective therapy.
Why is this happening? Even as leading pharmaceutical companies such as Mitsubishi Tanabe Pharma, Eli Lilly, and Sanofi are working against the clock to bring drugs and therapies to the market, the process remains long-winded given to stringent approvals and a regulatory landscape that’s exceedingly difficult to maneuver. These are the greatest restraints that the diabetic nephropathy market currently faces.
But these drawbacks also represent an opportunity that pharmaceutical companies can remuneratively harness.
That having been said, the diabetic nephropathy market will register a relatively modest growth rate to 2020, The restraints are many, but not grave. Companies are impelled to pump in more investment dollars into R&D efforts geared toward curing diabetic nephropathy because of the sheer volume of diabetics that now suffer from diabetic nephropathy and ESRD.
However, in PMR’s opinion, companies looking to gain a competitive edge in the market need to not only overcome regulatory hurdles but bring comprehensive therapeutic management to the market.
Where do the Growth Pockets Lie in the Diabetic Nephropathy Market?
Standing at US$931.0 million as of 2014, North America outclasses all other geographical regions in the diabetic nephropathy market. But the market will witness a change in dynamics over the next five or six years as Asia emerges as the region with the fastest growth rate in this market, impelled by China and Japan.
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From the standpoint of mode of treatment, Disease Modifying Therapies (DMT) are exhibiting fastest growth and ACE inhibitors’ segment is the largest and most rapidly expanding DMT of DN. Worldwide, the DMT market stood at US$2,093.5 million in 2014 and will exhibit a 5.8% CAGR between 2014 and 2020.
In the next few years, the popularity of combination therapy for diabetic nephropathy will be a trend to watch out for as more doctors and patients embrace it.