Albany, NY -- (SBWire) -- 11/20/2018 --Global Focal segmental glomerulosclerosis (FSGS) Market: Snapshot
Focal segmental glomerulosclerosis (FSGS), a rare health condition, afflicts around 210,200 patients worldwide and about 14,000 to 16,000 new cases are diagnosed annually. The rising numbers along the considerable untapped opportunities in the market on account of a limited number of pipeline products are serving to boost it. Continued thrust by non-government organizations to increase awareness about the rare disease and increasing allocation towards research on rare diseases too are proving beneficial for the market for focal segmental glomerulosclerosis.
Rising at a 8.0% CAGR from 2017 to 2025, the global focal segmental glomerulosclerosis (FSGS) market will likely become worth US$15.83 bn by 2025-end fromUS$7.82 bn in 2016, finds a report by Transparency Market Research.
Primary Focal Segmental Glomerulosclerosis Garners Greater Market Share due to Awareness About it
Depending upon the disease type, the market can be bifurcated into primary focal segmental glomerulosclerosis and secondary focal segmental glomerulosclerosis. Of the two, the segment of primary focal segmental glomerulosclerosis held a mammoth 79.8% share in the market in 2016. Also known as primary idiopathic/genetic focal segmental glomerulosclerosis, primary focal segmental glomerulosclerosis is a kind of the focal segmental glomerulosclerosis disease without a known or obvious cause. Growing awareness about the disease and its management is at the forefront of driving growth in the segment.
Depending upon the management of the disease, the global market for focal segmental glomerulosclerosis (FSGS) can again be split broadly into diagnosis and treatment. The segment of diagnosis can be further divided into creatine test, kidney biopsy, etc. The segment of treatment again can be further divided into drug therapy, kidney transplant, and dialysis. At present, the treatment segment contributes to most of the revenue in the market for focal segmental glomerulosclerosis (FSGS). This is because of the massive unmet requirements in the market. A promising pipeline of novel molecules and their approval will continue boosting the segment in the next couple of years.
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Considerable Penetration of Treatment Drives U.S. Market to Fore
Geographically, North America accounts for a leading share in the market for focal segmental glomerulosclerosis because of the presence of a properly structured health care industry and availability of reimbursement policies with wider coverage. The U.S. is mainly serving to drive the market in North America due to the greater uptake of advanced and high-cost drug therapies, considerable penetration of treatment, and helpful reimbursement policies.
Another factor stoking market growth in the U.S. is the classification of focal segmental glomerulosclerosis (FSGS) drugs under orphan disease drugs categories – companies involved in the production and clinical trials of drugs for orphan diseases receive exemption from payment of new drug application fee, provision of tax credits on clinical research, waivers for post-approval annual establishment and product fees, and exclusive marketing rights up to a period of seven years.
Europe trails North America in terms of market share. In 2016, the segment accounted for a share of 25.5%. Vis-à-vis growth rate, Asia Pacific is expected to outshine all other regions. The market in the region is being powered primarily by China which in turn is being propelled by the increasing diagnosis rate of focal segmental glomerulosclerosis, stupendous growth in the healthcare industry, and availability of drugs and dialysis at a lower price.
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Some of the key participants in the global market for focal segmental glomerulosclerosis (FSGS) are Variant Pharmaceuticals, Inc., GlaxoSmithKline plc., Novartis AG, ChemoCentryx, Inc., Retrophin, Inc., AbbVie, Inc., AstraZeneca plc., Pfizer, Inc., Sanofi S.A, and Teva Pharmaceutical Industries Ltd.
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Focal Segmental Glomerulosclerosis Market to Be Driven by Rise in Funding for Research on Rare Diseases