Phenylketonuria or PKU is an inherited disorder in which the body is unable to break down an amino acid called phenylalanine. Excess phenylalanine in the body can cause intellectual disabilities, seizures and other serious health problems if left untreated. Currently available treatment options include dietary restrictions, PKU formula and medications. Dietary treatments involve avoiding foods high in protein and phenylalanine. PKU formulas are medical foods that provide nutrition while being low in phenylalanine. Medications aid in controlling phenylalanine levels in the body. With the advancement in PKU treatment approaches, patients are now living healthier lives with improved intellectual and neurological outcomes.
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 Opportunity:
Improving standards of care and patient outcomes represent a major market opportunity. Research efforts to develop advanced treatment options are expected to boost market growth. A few key areas include dietary therapy advances, novel drug and gene therapies. Regulatory support for new therapies and patient assistance programs also augur well for improved quality of life and adherence to treatment. This offers scope for wider acceptance and uptake of advanced PKU management approaches globally.
Porter's Analysis
Threat of new entrants: The threat of new entrants in the phenylketonuria treatment market is moderate as developing new treatment methods requires huge R&D investments and lengthy approval process from regulatory bodies.
Bargaining power of buyers: The bargaining power of buyers is high given the availability of alternative treatment options and ability to switch between brands easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material providers and established suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as developing novel substitutes require significant investments and time for development and approval.
Competitive rivalry: The competitive rivalry among existing players in the phenylketonuria treatment market is high due to presence of many international brands.
SWOT Analysis
Strength: The phenylketonuria treatment market possesses huge growth opportunities owing to rising disease prevalence and growing healthcare expenditure. Additionally, increasing research activities have strengthened the product pipeline.
Weakness: High costs associated with phenylketonuria treatments restrict their access and adoption in low-income regions. Furthermore, lack of awareness regarding the disease in underdeveloped areas acts as a challenge.
Opportunity: Favorable government initiatives and patient support programs aimed at improving access to orphan drugs present lucrative opportunities for market players. Also, rising collaborations and partnerships among industry participants and research institutes are likely to drive innovation.
Threats: Stringent regulations for drug approvals delay market launch of new products. Additionally, inconsistent reimbursement policies across countries pose threat to sustained revenue generation.
Key Takeaways
The global phenylketonuria treatment market is expected to witness high growth at a CAGR of 8.6% during the forecast period of 2023 to 2030. It is projected that the market size will reach US$ 1.8 Bn by 2030.
North America currently dominates the global market and is estimated to retain its leading position throughout the forecast period. This can be attributed to the growing diagnosis rates, rising awareness about PKU, and availability of advanced treatment options in the region.
Key players operating in the phenylketonuria treatment market are BioMarin Pharmaceuticals Inc., Censa Pharmaceutical, Synlogic Inc., Erytech Pharma SA, Codexis Inc., SOM Innovation Biotech SL, Homology Medicines Inc., and Ultragenyx (Dimension Therapeutics). The market is highly competitive with major brands focusing on new product launches, enhancing manufacturing capabilities, and expanding geographical footprints through strategic collaborations.
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Urolithiasis is referred to as kidney stone and is a condition that is characterized by presence of a calculi or a solid piece material in the urinary tract of an individual.
These solid mass commonly known as kidney stone is typically formed in the renal area that is eliminated from the body through the urine stream.The stones that are smaller in size may pass off the body without any symptoms, however, lumps larger than 5 millimeters in size can lead to blockage of the ureter that may cause severe pain in the abdominal area and lower back.
This may result in symptoms that includes pain during urination, vomiting or blood in the urine.
Urolithiasis is caused due to combination of environmental and genetic factors.
It can also be caused due various factors such as obesity, hyperparathyroidism, and high urine calcium levels.Get Exclusive Sample Report @ https://dataintelo.com/request-sample/?reportId=506Rising incidence of chronic kidney diseases is one of the major factors responsible for growth of global urolithiasis management devices market.
Moreover, growth of the urolithiasis management devices market can also be attributed to rising adoption of percutaneous nephrolithotomy (PCNL).Read More @ https://www.marketwatch.com/press-release/urolithiasis-management-devices-market-swot-analysis-cagr-future-insights-growth-by-2026-2019-12-20
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