The global phenylketonuria therapeutics market is set to witness substantial growth, with projections indicating a rise from USD 1 billion in 2023 to USD 2.28 billion by 2033. This trajectory signifies a robust compound annual growth rate (CAGR) of 8.6% over the forecast period, according to FMI.
The forecast builds upon the market’s growth trend observed from 2018 to 2022, during which the PKU therapeutics market experienced a commendable CAGR of 5.2%. This steady expansion underscores the increasing demand for effective treatments to address phenylketonuria, a genetic metabolic disorder.
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Phenylketonuria inhibits the body’s ability to metabolize the amino acid phenylalanine, potentially leading to the accumulation of harmful substances. Left untreated, PKU can result in severe intellectual disabilities, convulsions, and other neurological complications.
The projected growth in the PKU therapeutics market reflects a growing awareness of this condition and the need for innovative treatment options to improve patient outcomes worldwide. Pharmaceutical companies and healthcare providers are actively engaged in research and development efforts to introduce novel therapies and enhance existing treatment protocols for PKU patients.
As the prevalence of phenylketonuria continues to rise globally, stakeholders across the healthcare sector are poised to collaborate in advancing research, expanding treatment accessibility, and ultimately, improving the quality of life for individuals affected by this condition.
Key Takeaways from the Market Study:
- From 2018 to 2022, the phenylketonuria therapeutics market grew at a CAGR of 5.2%.
- The global phenylketonuria therapeutics market is expected to grow with an 8.6% CAGR from 2023 to 2033.
- As of 2033, the phenylketonuria therapeutics market is expected to reach USD 2.28 Billion.
- According to the FMI analysis, the hospital pharmacies segment accounts for the largest market share.
- North America is expected to possess 40% market share for the Phenylketonuria Therapeutics market.
- The East & South Asia market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fuelling further clinical trials and research studies dedicated to discovering phenylketonuria therapeutics,” says an FMI analyst.
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Market Competition:
Key players in the market include companies such as Competition Deep Dive, Cigna, BioMarin Pharmaceuticals, Codexis, Inc., Erytech Pharma, SOM Innovation Biotech SL, Synthetic Biologics, Inc., Retrophin, Inc., Danone, Censa Pharmaceuticals, Homology Medicines, Inc., along with healthcare providers and technology companies among other global players.
- In January 2023, Jnana Therapeutics was granted clearance by the FDA for its Investigational New Drug (IND) application for JNT-517, a drug being developed to treat phenylketonuria (PKU), a condition that is difficult to treat. The biotechnology company is using its advanced chemoproteomics platform to discover drugs for challenging targets.
- The Phase 1 program of JNT-517 is currently underway in healthy volunteers in Australia, and will expand to include clinical sites in the U.S. The Phase 1b sub-study will evaluate the drug’s effectiveness in individuals with PKU, with the potential to demonstrate clinical proof of concept that supports a subsequent registrational program.
Key Segments Profiled in the Phenylketonuria Therapeutics Industry Survey:
Drug Type:
- Kuvan
- Playnziq
Route of Administration:
- Oral
- Parenteral
- Intravenous
- Subcutaneous
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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