Research Nester published a report titled “Phenylketonuria Drugs market- Global Demand Analysis and Opportunity Outlook 2029” which delivers detailed overview of the global phenylketonuria drugs market in terms of market segmentation by drug type, route of administration, end users, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market for phenylketonuria drugs is anticipated to record a significant CAGR over the forecast period 2021-2029. The major factors boosting the growth of the market are rising government initiatives regarding awareness for the treatment of phenylketonuria along with the high prevalence rate of the disorder in some emerging nations. Further, growing incidence rate of phenylketonuria globally coupled with advancements in the field of genomics and bioinformatics is fostering the market growth.
Moreover, increasing mergers and partnerships among key players in order to develop new drugs for the treatment of phenylketonuria and rising improvements in healthcare industry will propel the market growth. Based on drug type, the market is segmented into Palynziq, Kuvan, SYNB1618 and others. The market for Kuvan drug is anticipated to hold the largest market share in 2021 on the account of pharmaceutical formulation of BH4 in Kuvan drug. Further, Kuvan drug is given in mixture with phenylketonuria restricted diet. Moreover, in order to metabolize phenylalanine into tyrosine, BH4 is given as it stimulates the activity of phenylalanine hydroxylase enzyme.
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Based on the regional analysis, the market for phenylketonuria drugs is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. The phenylketonuria drugs market in North America is estimated to hold the largest share by the end of 2029 owing to the rising cases of newborn suffering from phenylketonuria along with the increasing research & development activities for novel drugs. Additionally, complimentary government regulations related to the treatment of phenylketonuria coupled with healthy healthcare infrastructure is fostering market growth in the region. The market in Asia Pacific region is anticipated to witness notable growth rate on the back of various screening programs along with huge population base in the region. Further, progressing countries in the region leading to high awareness for phenylketonuria disorder and its treatment will accelerate the growth of the market during the forecast period.
Surging Demand for Phenylketonuria Drugs
The rising commercialization of new drugs in the market along with the usage of synthetic biology in order to design new drugs to cure metabolic diseases is propelling the market growth. Further, undergoing phase 2 trials of pipeline drugs such as RTX-134 and CNSA-001 and its appointment from Food & Drug Administration is generating healthy demand for the treatment of phenylketonuria. In addition, growing activities in research on novel drugs coupled with the approval of Palynziq drug from FDA will fuel the market growth. Palynziq is injected to the patients possessing uncontrollable blood phenylalanine concentration in order to treat them. Therefore, these factors will account for the growth of the market during the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, strict government regulations, unfavorable reimbursement policies along with high costs of phenylketonuria drugs are expected to operate as key restraint into the growth of phenylketonuria drugs market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global phenylketonuria drugs market which includes company profiling of Ultragenyx Pharmaceutical (NASDAQ: RARE), PTC Therapeutics (NASDAQ: PTCT), BioMarin (NASDAQ: BMRN), Homology Medicines, Inc. (NASDAQ: FIXX), SOM BIOTECH, Nestle Health Science (SWX: NESN), American Gene Technologies Inc., Rubius Therapeutics Inc. (NASDAQ: RUBY), and Synlogic (NASDAQ: SYBX). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global phenylketonuria drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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