New York, United States , April 20, 2023 (GLOBE NEWSWIRE) -- The Global Phenylketonuria Market Size is to grow from USD 610.3 million in 2022 to USD 1121.01 million by 2032, at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period.
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The body overproduces the amino acid phenylalanine due to a rare hereditary condition called phenylketonuria. All proteins and certain artificial sweeteners include the amino acid phenylalanine. The non-essential amino acid tyrosine is produced by the body's phenylalanine hydroxylase enzyme. Dopamine, norepinephrine, and epinephrine are just a few of the neurotransmitters that the body requires tyrosine to produce. PKU can be brought on by a mutation in the PAH gene, which encodes the phenylalanine hydroxylase enzyme. Diagnostic procedures, treatments, and dietary supplements for PKU sufferers are all part of the global phenylketonuria market.
The increasing awareness of phenylketonuria among medical professionals and the general public is one of the key factors anticipated to propel the growth of the phenylketonuria market during the forecast period. Also, governments and regulatory organizations are supporting and subsidizing the development of novel phenylketonuria treatments, which is fostering innovation and introducing novel products to market. There have been substantial improvements made in the creation of new PKU drugs, including gene therapy, pharmacological therapies, and enzyme replacement therapy. Furthermore, phenylketonuria treatments, such as gene therapy, pharmacological therapies, and enzyme replacement therapy, can be extremely expensive. For some patients, particularly those in low- and middle-income nations, this might hinder their access to these types of drugs. Due to the frequency of this disorder and the limited availability of specialized medical meals, conducting clinical trials for novel PKU treatments can be challenging. This may reduce the number of new therapies that are available and delay their development.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on the "Global Phenylketonuria Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Drugs, Nutrition Supplements, Others), By Type (Hyperphenylalaninemia, Mild PKU, Moderate and Variant, Classic PKU), By End Users (Hospital Pharmacies, Online Pharmacies, Drug Stores, Pediatric Clinics, & Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032." Get Detailed Report Description Here:
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COVID 19 Impact
The COVID-19 pandemic has had a significant impact on the global healthcare industry, including the phenylketonuria (PKU) market. The pandemic has disrupted healthcare services around the world, and many individuals with PKU may experience delayed diagnosis or treatment as a result. This could lead to long-term consequences for individuals with PKU and could impact the growth of the phenylketonuria market. The economic impact of the pandemic could make it more difficult for some patients with phenylketonuria to afford the specialized medical foods and nutritional supplements required to manage their condition. This could impact treatment adherence and could impact the growth of the PKU market. The pandemic has accelerated the adoption of telemedicine and remote healthcare services, which could provide opportunities for individuals with PKU to receive care and support from home. This could improve access to care and support for individuals with PKU and could potentially benefit the growth of the PKU market.
The nutrition supplements segment is dominating the market with the largest market share over the forecast period.
Based on the product type, the Global Phenylketonuria Market is segmented into drugs, nutrition supplements, and others. Among these, nutrition supplements dominated the market over the forecast period due to Specialized medical foods and nutritional supplements developed to deliver the required nutrients while reducing phenylalanine intake are included in the nutrition supplements industry. These goods might comprise infant formulae, beverages, and snack bars that are high in protein, vitamins, and minerals but low in phenylalanine, which could dominate the market share over the forecast period.
The hospital pharmacies segment is influencing the market over the forecast period.
Based on the end users, the Global Phenylketonuria Market is divided into hospital pharmacies, online pharmacies, drug stores, pediatric clinics, & others, the hospital pharmacies segment held the largest market share owing to the hospital infrastructure can hold a significant number of patients. In order to prevent any potential mistakes, most people also prefer to get their medications from hospital pharmacies and then have them reviewed by a doctor.
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North America is dominating the market with the largest market share over the forecast period.
North America is predicted to expand at the highest CAGR over the projection period due to the increased awareness of PKU and other rare diseases among patients and healthcare professionals in this area, North America is predicted to expand at the highest CAGR over the projection period. Government programs to raise awareness of these illnesses are also promoting market expansion in this region.
Asia Pacific is anticipated to have significant growth over the forecast period due to the increase in the older population in countries like China and India. The expansion of medical facilities and the localization of generic drug manufacturers are primarily responsible for the increase in the region's revenue.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Phenylketonuria Market include American Gene Technologies International, Censa Pharmaceuticals, Daiichi Sankyo Company Limited, Cambrooke Therapeutics, Inc., Dimension Therapeutics, Inc., Synthetic Biologics, Inc., BioMarin Pharmaceutical, Inc., Erytech Pharma SA, Danone Nutricia, Homology Medicines, Inc, SOM Innovation Biotech SL, Mayo Foundation for Medical Education and Research, Rubius Therapeutics, Inc., and Other key players.
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Recent Development
In July 2022, Preclinical evidence for Jnana Therapeutics' flagship program, which could be the first oral strategy of its kind to treat PKU, has been reported. At the Vancouver, Washington, 2022 National PKU Alliance Conference, data has been presented.
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