Fragmented CKD drugs market to reach $15.8 billion by 2024; Report
The global chronic kidney disease (CKD) drugs market is largely fragmented, states a research report by Transparency Market Research (TMR).
The top four players, namely France’s Sanofi (Euronext: SAN) and the USA’s Pfizer (NYSE: PFE), Amgen (Nasdaq: AMGN) and AbbVie (NYSE: ABBV), accounted for a share of only 41.4% in this market in 2015. The prominent players in this market are focusing aggressively on mergers, acquisitions, and strategic alliances to expand their product portfolio, which is likely to lead to market consolidation in the next few years, reports the research study.
According to the report's estimates, the global market for chronic kidney disease drugs was worth $11.5 billion in 2015. Proliferating at a 3.60% compound annual growth rate (CAGR) during the period from 2016 to 2024, the overall opportunity in this market is anticipated to increase to $15.8 billion by the end of the forecast period. Hospitals have surfaced as the key end users of chronic kidney disease drugs and are projected to remain so over the next few years.
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