Phenylketonuria Treatment Market Size, Share, Growth and Trend Analysis Report
by Susan Hill Business ConsultantThe global phenylketonuria treatment market size is expected to
reach USD 1.02 billion by 2026 registering a CAGR of 11.0%, according to a new
report by Grand View Research, Inc. Rising prevalence of PKU across the world
and favorable government regulations are the factors expected to spur the market
growth over the forecast period.
For instance, according to the FDA, in 2018,
phenylketonuria affected about 1 in 10,000 to 15,000 people in U.S.
Furthermore, according to the Orphanet, it was estimated that 1 in 10,000
newborns in Europe is suffering from PKU. The target disease is highly
prevalent in European countries, such as Italy, Ireland, and Turkey. It was
estimated that around 1 in 4000 individuals in Turkey were diagnosed with PKU.
Various awareness programs conducted by private and
public organizations are also projected to fuel market growth. Some of the
organizations conducting such programs are SickKids, Children’s Hospital of
Wisconsin, CHOC Children’s, and Boston Children’s Hospital. These programs aim
to promote optimal emotional, developmental, and physical health PKU patients.
Furthermore, continuous R&D for the disease
treatment is estimated to enhance the market growth. For instance, Synlogic,
Inc.’s SYNB1618 drug is undergoing Phase 1/2a clinical trials and also received
fast-track designation from FDA. In addition, other companies, such as Rubius
Therapeutics, Inc., Retrophin, Inc., and Homology Medicines, Inc. are also
conducting research to develop novel therapies, such as oral, enzyme therapy, gene
therapy.
Availability of reimbursement policies for high-cost
treatments of PKU is also projected to boost the market growth. Kuvan is
currently approved for use and reimbursed in many European countries, such as
Germany, Belgium, France, Italy, and Austria. Furthermore, increasing number of
funding programs for R&D by various organizations is anticipated to drive
the market. For instance, the National PKU Alliance provides funding to
research projects that helps in promoting advances in the management and
treatment of PKU.
Further
key findings from the study suggest:
- Kuvan held the largest market share in 2018 as it is the first and
only approved drug for PKU treatment since 2007
- North America dominated the phenylketonuria treatment market in 2018
owing to the presence of well-established healthcare infrastructure, high
healthcare expenditure, and favorable government regulations
- Europe region is expected to exhibit the fastest CAGR over the
forecast period owing to rising R&D activities for the development of
new PKU drugs
- Major companies in the market are BioMarin Pharmaceuticals, Inc.;
Retrophin, Inc.; Synlogic, Inc.; Censa Phamraceuticals; Homology
Medicinces, Inc.; and Rubius Therapeutics, Inc.
Access
full research report on global phenylketonuria treatment market:
www.grandviewresearch.com/industry-analysis/phenylketonuria-pku-treatment-market
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Created on Mar 2nd 2020 08:42. Viewed 391 times.