DUBAI, United Arab Emirates, Jan. 10, 2023 (GLOBE NEWSWIRE) -- 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.
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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.
As chronic diseases become more prevalent in the population, the market for hyperphosphatemia treatment is expected to increase. ESRD patients with hyperphosphatemia have been more likely to need treatment for hyperphosphatemia, so the demand for hyperphosphatemia drugs or treatment has increased.
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.
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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.
More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the hyperphosphatemia market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights into the hyperphosphatemia market analysis report drug class (calcium based phosphate binders, iron-based phosphate binders, lanthanum carbonate, non-phosphate binders) by test type (low serum calcium level type, blood urea nitrogen test, phosphate level test, creatinine value test), by end user (hospitals, ambulatory surgical centers, specialty clinics, others), and by region (North America, Latin America, Western Europe, Eastern Europe, APAC and MEA).
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About the Healthcare Division at Future Market Insights
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
Key Segments Profiled in the Hyperphosphatemia Industry Survey
Hyperphosphatemia Market by Drug Class:
- Calcium Based Phosphate Binders
- Iron Based Phosphate Binders
- Lanthanum Carbonate
- Non Phosphate Binders
Hyperphosphatemia Market by Test Type:
- Low Serum Calcium Level Test
- Blood Urea Nitrogen Test
- Phosphate Level Test
- Creatinine Value Test
Hyperphosphatemia Market by End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Others
Hyperphosphatemia Market by Region:
- North America Hyperphosphatemia Market
- Latin America Hyperphosphatemia Market
- Western Europe Hyperphosphatemia Market
- Eastern Europe Hyperphosphatemia Market
- Asia Pacific Hyperphosphatemia Market
- Middle East & Africa Hyperphosphatemia Market
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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