The global phenylketonuria drugs market is anticipated to grow with a significant CAGR during the forecast period, i.e., 2021-2029. The growth of the market can be attributed to the rising prevalence of phenylketonuria globally and high incidence rate of the disorder in some emerging countries such as Turkey. Further, the increasing government initiatives in order to increase awareness & knowledge towards phenylketonuria treatment, along with the surge in the mergers and acquisitions between different key players for the development of new drugs is propelling demand for phenylketonuria drugs market are anticipated to drive the market growth. Moreover, rising research activities in the field of biotechnology and genomics is also anticipated to contribute to the growth of the market in the coming years.
The global phenylketonuria drugs market is segmented on the basis of drug type into Palynziq, Kuvan, SYNB1618 and others. Among these segments, the Kuvan drug segment is estimated to capture the largest market share in the year 2021. Kuvan drug contains the oral pharmaceutical formulation BH4, which is known to stimulate the activity of phenylalanine hydroxylase enzyme to metabolize phenylalanine into tyrosine.
Geographically, the global phenylketonuria drugs market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Among the market in these regions, the market in the North America is estimated to hold largest market share by the end of 2029. The growth of the market in the region can be attributed to the rising research and development activities for novel drugs coupled with the favourable government regulations for the treatment of phenylketonuria. In addition, improvements in healthcare infrastructure in the region along with growing cases of new-born suffering from the disorder is also projected to foster the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
On the other hand, the market in the Asia Pacific is anticipated to foresee significant growth on account of the rising population in emerging nations and growing awareness for the treatment of phenylketonuria. Moreover, progress in the economies along with several screening programs in the region is also estimated to accelerate the market growth over the forecast period.
The phenylketonuria drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the global phenylketonuria drugs market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing demand for phenylketonuria drugs and the rising advancements observed in the healthcare sector, are some of the major factors driving the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.
The high price of the drugs is one of the major factors estimated to act as barriers to the growth of the market.
The market in the Asia Pacific is projected to display significant growth opportunities during the forecast period on account of the growing awareness for the treatment of phenylketonuria.
The major companies in the market are Ultragenyx Pharmaceutical, PTC Therapeutics, BioMarin, Homology Medicines, Inc., SOM BIOTECH, Nestle Health Science, American Gene Technologies Inc., Rubius Therapeutics, Inc., Synlogic, and others.
The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The phenylketonuria drugs market is segmented by drug type, route of administration, end users, and by region.
The Kuvan drug segment is estimated to capture the largest market share in the year 2021 as the drug can stimulate the activity of phenylalanine hydroxylase enzyme to metabolize phenylalanine into tyrosine.
The market in the North America is anticipated to hold the dominating share by the end of 2029 primarily on account of the increasing research and development activities for the development of novel drugs.
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