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Phenylketonuria Treatment Market is Estimated To Witness High Growth Owing To Increasing New Product Launches

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Niranjan Mardakar
Phenylketonuria Treatment Market is Estimated To Witness High Growth Owing To Increasing New Product Launches

The global Phenylketonuria Treatment Market is estimated to be valued at US$ 1 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The phenylketonuria treatment market comprises products such as dietary supplements and medications. Dietary supplements consisting of amino acids and micronutrient mixtures aim to manage phenylalanine levels and nutritional requirements associated with phenylketonuria. Medications are also available to control phenylalanine levels in blood by restricting its production or absorption. Proper management of phenylalanine levels and nutrition is important to prevent neurological complications in patients with phenylketonuria.

Market key trends:

One of the key trends in the Phenylketonuria Treatment Market Size is the development of palatability-enhanced nutritional supplements. Conventional phenylketonuria supplements have poor taste acceptance, resulting in poor patient compliance. To address this issue, industry players are focusing on new formulations with improved flavors and ease of consumption to boost patient adherence to lifelong therapy. For example, in 2018, BioMarin Pharmaceuticals launched Palynziq, a phenylalanine-restricted amino acid supplement available in different flavors like fruit punch and lemon lime to appeal to different age groups.

Segment Analysis

The global phenylketonuria treatment market is segmented based on type, route of administration, and distribution channel. Based on type, the market is segmented into drugs and dietary supplements. The drugs segment dominated the market in 2022 and is anticipated to register rapid growth during the forecast period. This is attributed to the efficacy of drugs in managing phenylketonuria and favorable reimbursement scenario for prescribed drugs in developed regions.

Based on route of administration, the market is categorized into oral and parenteral. The oral segment held major share of the global market in 2022 as oral drugs offer advantages such as ease of administration and improved patient compliance.

Based on distribution channel, the market is divided into hospital pharmacies, retail pharmacies, online pharmacies, and others. The hospital pharmacies segment is estimated to account for leading share of the market owing to availability of prescribed drugs and regular monitoring by healthcare professionals in hospitals.

Key Takeaways

The global phenylketonuria treatment market size was valued at US$ 1 Bn in 2023.

The market is expected to witness high growth, exhibiting a CAGR of 8.6% over the forecast period, due to rising awareness regarding early diagnosis of phenylketonuria and availability of screening programs in developed countries.

Regional analysis: North America dominated the global market in 2023 and is expected to continue its dominance during the forecast period. This is attributed to presence of key market players, developed healthcare infrastructure, and favorable reimbursement policies in the region.

Key players analysis: Key players operating in the phenylketonuria treatment market are Cigna, BioMarin Pharmaceuticals, Codexis, Inc., Erytech Pharma, SOM Innovation Biotech SL, Synthetic Biologics, Inc., Retrophin, Inc., and Danone. Cigna and BioMarin Pharmaceuticals captured major market share in 2023 owing to their broad product portfolio and extensive geographical presence.

Read Our More Blogs : https://www.rapidwebwire.com/phenylketonuria-treatment-market-size-share-analysis-2023-2030/

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Niranjan Mardakar
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