Pune, India, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The global hyperphosphatemia treatment market size is projected to grow from USD 2.46 billion in 2021 and is expected to reach USD 3.53 billion in 2028. As per a published report by Fortune Business Insights™, titled, “Hyperphosphatemia Treatment Market, 2021-2028,” the market stood at USD 2.36 billion in 2020. It is set to exhibit a CAGR of 5.3% in the forecast period 2021-2028.
Vifor Fresenius Declares Positive Results of Phase-III Trial of Velphoro
In April 2021, Vifor Fresenius Medical Care Renal Pharma (VFMCRP) declared positive results of a Phase-III study evaluating the efficacy of Velphoro in China. The study has compared sevelamer carbonate in maintaining and reducing sevelamer carbonate in Chinese patients living with chronic kidney diseases (CKD). As per one of the researchers, “Our positive result from the study will help in reinforcing the Velphoro as a novel treatment option for patients undergoing dialysis and suffering from hyperphosphatemia. It will also strengthen the position of the drug as a leader in the field of the calcium-free phosphate binder. Such initiatives by renowned companies would drive the demand for hyperphosphatemia treatment.
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Report Coverage-
We aim to provide the best market research solutions under one roof to help our clients choose the best strategy as per their requirements. Our syndicated or custom reports deliver accurate statistics and a comprehensive analysis on revenue. The competitive landscape section contains detailed profiles of prominent players. They also include company description, revenue, and sales generated in the hyperphosphatemia treatment business.
COVID-19 Impact-
Supply Chain Disruptions Worldwide amid COVID-19 Pandemic to Obstruct Growth
The COVID-19 pandemic has disrupted the supply chain and exposed the vulnerabilities of various businesses. The industry was also affected negatively because of the diminishing capital expenditures. We are providing elaborate research reports to help you get a complete picture of the industry and choose the right strategy to elevate your business to a whole new level.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/hyperphosphatemia-therapeutics-market-100325
Rising Prevalence of Kidney Failure to Accelerate Demand
The prevalence of chronic kidney diseases is increasing at a fast pace across the globe. It is anticipated to be the fifth most common cause of years of life lost by 2040. It would further raise the number of patients undergoing dialysis. This factor is expected to augment the hyperphosphatemia drugs market growth in the near future.
The National Kidney Foundation Inc. mentioned that 785,883 Americans were suffering from kidney failure in 2018, thereby requiring dialysis and kidney transplant. Out of them, 554,038 patients had received dialysis to enhance functions of their kidneys. The National Center for Biotechnology Information (NCBI), for instance, declared that 80-85% of the patients are treated with phosphate binders. However, the daily pill burden of dialysis patients may hinder the demand for hyperphosphatemia treatment.
North America Stood at USD 1.09 Billion in 2020: Fortune Business Insights™
- North America procured USD 1.09 billion in terms of revenue in 2020. The demand for hyperphosphatemia treatment is expected to grow rapidly because of the increasing number of CKD patients present in this region. The National Institute of Diabetes and Digestive and Kidney Disorders (NIDDK) put forward that in 2020, approximately 610,000 people were suffering from End Stage Renal Disease (ESRD) in the region.
- In Asia Pacific, the market is likely to grow lucratively backed by the higher prescription share of calcium-based phosphate binders in emerging countries, such as India and China compared to developed countries.
- Europe would exhibit considerable growth on account of the surging demand for sevelamer-based and iron-based phosphate binders in the region. Besides, the rising number of patients undergoing dialysis would aid regional growth.
- The Middle East & Africa and Latin America are set to grow steadily in this treatment market stoked by the rising supply and distribution agreements.
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Competitive Landscape-
Launch of Novel Drugs and Acquisitions — Vital Strategies of Key Companies
Reputed companies operating in the hyperphosphatemia treatment market are trying to introduce innovative treatment options for people undergoing dialysis. At the same time, they are acquiring novel drugs from other firms to expand their presence and product ranges
A list of companies presents in the global market:
- Sanofi (Paris, France)
- Takeda Pharmaceutical Company Limited (Tokyo, Japan)
- Astellas Pharma Inc. (Tokyo, Japan)
- Akebia Therapeutics, Inc (Massachusetts, U.S.)
- Vifor Pharma Management Ltd. (Zurich, Switzerland)
- Lupin Limited (Mumbai, India)
- Ardelyx, Inc. (California, U.S.)
- Unicycive Therapeutics Inc. (California, U.S)
- Keryx Biopharmaceuticals (Massachusetts, U.S.)
- Zeria Pharmaceutical (Chuo City, Japan)
- Other Prominent Players
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