According to Future Market Insights, the Hyperphosphatemia Market Sales would expand rapidly between 2023 and 2033. Worldwide sales of Hyperphosphatemia drugs are estimated to reach almost US$ 20.24 billion by 2033, with the market expected to grow at the same rate.
Various calcium-based phosphorus binders are used as calcium supplements nowadays and can replace aluminum-based phosphorus binders. Companies all over the world are working to create novel therapeutic treatments for hyperphosphatemia. Emerging treatments will assist future generations by changing treatment dynamics. Non-phosphate binders are becoming more popular in the market. Furthermore, new products are being released in developing countries to help drive Hyperphosphatemia market growth.
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According to the National Centre for Biotechnology Information (NCBI), phosphate binders are used to treat the vast majority of dialysis patients with hyperphosphatemia. Over the foreseeable period, the prevalence of chronic renal illnesses is expected to considerably assist market growth. With China’s central government focused on aggressive economic plans, it is expected that demand for Hyperphosphatemia drugs would rise as the country’s healthcare infrastructure expands.
The market for Hyperphosphatemia treatment is predicted to grow as chronic diseases become more widespread in the population. Because ESRD patients with Hyperphosphatemia are more likely to require Hyperphosphatemia treatment, the demand for Hyperphosphatemia medications or treatment has increased.
Key Takeaways from the Market Study
- The global Hyperphosphatemia market is estimated to be worth US$ 20.24 billion by 2033, with a 4.8% CAGR.
- By 2023, iron-based phosphate binder is estimated to account for 20% of the Hyperphosphatemia market.
- In 2023, North America will account for 36% of the global income generated by Hyperphosphatemia.
- According to projections, Europe would control 25% of the worldwide market by 2023.
- The low serum calcium level test is the most prominent test type in the Hyperphosphatemia industry, accounting for more than 8% of the 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 Future Market Insights.”
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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.
- Ardelyx, Inc., a biopharmaceutical business formed to research, develop, and commercialise breakthrough first-in-class medications to address large unmet medical needs, announced that three posters would be exhibited during Kidney Week 2022, which will be place November 3-6, 2022 in Orlando, Florida. XPHOZAH (tenapanor) is a phosphate absorption inhibitor (PAI) developed and discovered by Ardelyx for the treatment of chronic kidney disease (CKD) in dialysis patients.
- Unicycive Therapeutics, a clinical-stage biotechnology startup, has completed enrolment in the RENAZORB bioequivalence (BE) study. RENAZORB (lanthanum dioxycarbonate) is being developed to treat Hyperphosphatemia in kidney dialysis patients with chronic kidney disease.
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More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Hyperphosphatemia market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 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).
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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