Research Dive has added a new report to its offering titled, “Nephrology Drugs Market by Type (ACE Inhibitor, Calcium Channel Blocker, Diuretics, and Others), Route of Administration (Oral and Parenteral), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028”.
As per the report, the global nephrology drugs market is anticipated to generate $21,454.5 million in revenue and grow exponentially at a healthy CAGR of 6.0% during the forecast period from 2021-to 2028.
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Dynamics of the Nephrology Drugs Market
Increasing cases of kidney diseases like kidney failures and kidney fibrosis among millennials because of lifestyle changes such as eating unhealthy food, and less physical activity is expected to bolster the growth of the market during the analysis period. Besides, growing numbers of the geriatric population all across the globe are further predicted to fortify the growth of the nephrology drugs market over the estimated period. In addition, the rising development in launching new nephrology drug products is expected to create extensive growth opportunities for the market throughout the forecast period. However, the high price of nephrology drugs may impede the growth of the market during the analysis period.
Covid-19 Impact on the Nephrology Drugs Market
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The rise of the Covid-19 pandemic has devastated the growth of the nephrology drugs market, likewise, several other industries. Due to the rapid transmission of novel coronavirus and its severe symptoms, people have knowingly delayed their regular hospital visits and health professionals have delayed many renal surgeries. In addition, many pharmaceutical industries have slowed down the manufacturing of nephrology drugs and put more effort into the production of coronavirus vaccines. All these factors have declined the growth of the market throughout the crisis.
Source: PR Newswire