Europe's Hyperphosphatemia market share is expected to increase to 25% by 2033
Future Market Insights estimates that the Hyperphosphatemia Market will experience a rapid expansion between the years 2023 and 2033. By 2033, it is anticipated that worldwide sales of hyperphosphatemia medications will reach nearly US$ 20.24 Billion, and the market is expected to continue to grow at the same pace.
Various calcium-based phosphorus
binders are being used in the present day as calcium supplements and can
replace aluminum-based phosphorus binders. The development of new treatment
therapies for hyperphosphatemia is being pursued across the globe by companies.
Future generations will benefit from emerging treatments that will transform
treatment dynamics. Market trends are shifting towards non-phosphate binders.
Additionally, new products are being introduced in developing countries to
propel hyperphosphatemia market growth.
A majority of dialysis patients with
hyperphosphatemia are treated with phosphate binders, according to the National
Center for Biotechnology Information (NCBI). The prevalence of chronic renal
diseases is expected to significantly support the market's growth over the forecast
period. With China's central government focusing on robust growth initiatives,
it is predicted that demand for hyperphosphatemia medications will increase due
to the country's expanding healthcare infrastructure.
Hyperphosphatemia syndrome is a medical condition
characterized by elevated levels of phosphate in the blood. Phosphate is an
important mineral that is necessary for various bodily functions such as bone
formation, nerve function, and energy metabolism. However, excessive levels of
phosphate can be harmful and can cause a variety of health problems.
Key Takeaways from the Market Study
- The global hyperphosphatemia market is expected to
reach US$ 20.24 billion by 2033, growing at a CAGR of 4.8%.
- Iron-based phosphate binder is expected to grab 20% of
the hyperphosphatemia market by 2023.
- North America accounted for 36% of the worldwide revenue
generated by hyperphosphatemia in 2023.
- According to predictions for 2023, Europe will hold 25%
of the global market.
- With more than 8% market share, the low serum calcium
level test is the most popular test type for the hyperphosphatemia market.
“Researchers are studying more and
more new drugs and therapies. In recent years, at-home test kits have gained
popularity. A generics reimbursement program will reduce coverage for expensive
therapies, says an analyst at FMI.
To learn more about this report @ https://www.futuremarketinsights.com/reports/hyperphosphatemia-market
Competitive Landscape
As companies with a wide geographic
reach look to expand their product offering and develop more complex
applications, they are taking collaborative steps to boost sales, from
acquiring other businesses into their own to creating a more flexible medical
system.
Strategic, profitable partnerships
are helping competitors consolidate their market presence. By acquiring and
partnering with companies, advanced technology can be used more effectively.
Several deals are entered into by home health kits in order to expand their
technology horizons.
- Biopharmaceutical company Ardelyx, Inc., founded to
find, develop and commercialize innovative first-in-class medicines to
address significant unmet medical needs, announced that three posters will
be presented during Kidney Week 2022, which will be held in Orlando,
Florida, from November 3-6, 2022. A phosphate absorption inhibitor (PAI)
developed and discovered by Ardelyx for treating chronic kidney disease
(CKD) suffering from dialysis patients is XPHOZAH (tenapanor).
- The RENAZORB bioequivalence (BE) study has concluded
enrollment at Unicycive Therapeutics, a clinical-stage biotechnology
company. Research is being conducted to develop RENAZORB (lanthanum
dioxycarbonate) to treat hyperphosphatemia in kidney dialysis patients
with chronic kidney disease.
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