The rare kidney diseases market has witnessed a significant growth owing to the rise in government initiatives to support rare disease research. Rare kidney diseases are a subset of rare diseases affecting the kidneys, which includes conditions like cystic kidney disease and nephrotic syndrome. These conditions severely impact kidney functioning and require lifelong treatment. The increasing focus on development of novel treatment options has resulted in growth of this market.
The Rare Kidney Diseases Market is estimated to be valued at US$ 3.9 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the rare kidney diseases are Seres Therapeutics, Inc.,Enterome,4D pharma plc,International Flavors & Fragments Inc.,OptiBiotix Health Plc. These players are engaging in new product launches and research collaborations to expand their offerings in the market.
The growing prevalence of rare kidney disorders is a major factor driving the demand for treatment and management of these conditions. As per estimates, rare kidney diseases affect over 12 million people worldwide each year. The lack of approved treatment options also presents lucrative opportunities for market players.
Technological advancements like development of gene and cell therapies hold potential to revolutionize the treatment of rare kidney diseases. Several clinical trials are ongoing to evaluate the therapeutic potential and safety of novel treatment approaches like CRISPR for genetic rare kidney diseases.
Market Trends
Growing focus on precision medicine: Researchers are actively exploring ways to develop more personalized and targeted treatment approaches for rare kidney diseases based on patient genetics and biomarkers. This includes development of molecular biomarkers for early disease diagnosis and precision therapeutics.
Increasing clinical trial activity: A large number of phase 2 and phase 3 clinical trials are being conducted to evaluate new products in conditions like primary hyperoxaluria and nephrotic syndrome. The successful development of these pipeline drugs can drive revenue generation in the coming years.
Market Opportunities
Orphan drug designation: Regulatory agencies provide incentives like market exclusivity to support development of drugs for rare diseases. Many companies are leveraging these benefits by obtaining orphan drug status for pipeline candidates.
Partnerships and collaborations: Establishing strategic collaborations is one of the focus areas of companies to access advanced research capabilities and technologies for developing innovative therapies. Both large and small players are actively partnering for product development.
Impact Of COVID-19 On Rare Kidney Diseases Market
The COVID-19 pandemic had a significant impact on the rare kidney diseases market. During the initial outbreak and lockdowns imposed worldwide, disrupted supply chains hampered the manufacturing and distribution of drugs and medical devices used for treating rare kidney diseases. This led to shortages and delays in treatment for many patients. Telemedicine saw increased adoption as visiting hospitals became risky. However, virtual consultations could not replace in-person monitoring and treatment needed by many rare kidney patients. Research and clinical trials also faced delays due to delayed approvals, non-availability of participants and investigators, etc. The economic slowdown impacted fund raising for pharmaceutical companies and startups working on drug development for rare kidney conditions.
As restrictions have eased in 2022, the market is recovering slowly. Manufacturing and supply chains have stabilized while maintaining necessary safety protocols. Although telemedicine continues to play a supportive role, most patients have resumed visiting hospitals and care centers for treatment. Drug developers are making efforts to recover lost time by fast-tracking certain clinical trials. Governments and private organizations are providing funding support to help accelerate research. It is expected that the market will regain its pre-pandemic growth levels by 2024. However, risks of future waves persist and the long-term impact of the pandemic on this market remains uncertain.
The rare kidney diseases market in North America holds the largest share globally, both in terms of value and volume. This is due to high awareness, favorable reimbursement policies, presence of major pharmaceutical companies and advanced healthcare facilities in the US and Canada. Europe is the second largest market. The Asia Pacific region is witnessing fastest growth and rising cases of rare kidney diseases are driving market growth in countries like India, China and Japan. Africa and Latin America are expected to offer emerging opportunities with economic development and expanding healthcare access in the future.
The rare kidney diseases market in China is growing at the fastest rate globally. This is owing to China's huge population size which increases the patient pool for rare diseases, rising healthcare spending, growing medical tourism and strong government support for the biopharmaceutical industry. Other dynamic Asian markets include India and Japan due to their large generics manufacturing base and rapidly aging demographics respectively. Government schemes for rare disease treatment are boosting market growth in India.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. (LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
What Are The Key Data Covered In This Rare Kidney Diseases Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Rare Kidney Diseases's growth between 2024 and 2031.
:- Accurate calculation of the size of the Rare Kidney Diseases and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Rare Kidney Diseases Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Rare Kidney Diseases vendors
FAQ’s
Q.1 What are the main factors influencing the Rare Kidney Diseases?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Rare Kidney Diseases companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Rare Kidney Diseases’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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