by The global phenylketonuria (PKU) treatment market, valued at an impressive US$ 446.7 million in 2020, is set to experience substantial expansion in the years ahead, according to the latest market analysis.
Market Overview
In a report released today, the phenylketonuria treatment market is projected to exhibit a robust Compound Annual Growth Rate (CAGR) of 11% from 2022 to 2027. Despite facing moderate disruptions during the COVID-19 pandemic, PKU patients demonstrated resilience by adapting their dietary regimens and embracing teleconsultancy, resulting in improved metabolic control during home confinement.
The pandemic has illuminated the potential of remote healthcare services to enhance phenylketonuria treatment adherence and metabolic compliance among patients.
The markets growth is further propelled by escalating research and development efforts, exemplified by clinical trials conducted by industry leaders such as BioMarin Pharmaceutical Inc. and PTC Therapeutics. These trials focus on enhancing the safety and efficacy of treatments like BMN 307 and PTC923, designed to lower blood phenylalanine levels in PKU patients to less than 2 milligrams per deciliter (mg/dL).
Governmental organizations and healthcare systems commitment to raising awareness about PKU is also a significant driver. Initiatives like the National Phenylketonuria Alliance, a collaborative community, actively promote PKU awareness, education, and research.
Nonetheless, the markets growth potential is hindered by the high cost of PKU treatment.
Key Report Findings
- The PKU treatment market is anticipated to grow at a CAGR of 11% from 2022 to 2027.
- COVID-19s impact on PKU treatment adherence has emphasized the role of teleconsultancy, which is expected to remain a driving force post-pandemic.
- Pioneering research and clinical trials by companies like BioMarin Pharmaceutical Inc. and PTC Therapeutics are set to yield more effective treatments.
- PKU awareness programs, championed by various organizations and governments, are boosting demand for PKU treatments.
- The high cost of PKU treatment presents a potential limitation to market growth.
- Kuvan, manufactured by BioMarin Pharmaceuticals, is a dominant drug in the market, backed by clinical trials affirming its efficacy in reducing blood phenylalanine levels.
- The phenylketonuria treatment market is segmented by Drugs (Kuvan, Palynziq, and others) and Geography (North America, Europe, Asia-Pacific, and the Rest of the World).
- North America, with its higher PKU incidence rates and treatment advancements, is expected to hold a significant market share.
- Increasing cases of phenylketonuria in the U.S. are driving regional market growth.
- Government support for research is leading to potential advances in PKU therapy.
Market Drivers
Impact of COVID-19 on PKU Treatment Adherence: The pandemic has underscored the value of teleconsultancy in ensuring treatment adherence, highlighting its continued importance beyond the pandemic.
Increasing Research and Clinical Trials: Key players active clinical trials promise more effective treatments, with the investigation of gene transfer approaches like BMN 307 demonstrating significant progress.
Rising PKU Awareness Programs: Governments and organizations are driving awareness about PKU, emphasizing the importance of early intervention.
High Incidence Rates of PKU in North America: The U.S. reports high PKU incidence rates, with early detection through newborn screening aiding treatment initiation.
Efficacy of Current Treatment Options: Drugs like Kuvan are effective in managing PKU, instilling confidence in patients and healthcare providers.
Market Opportunities
Technological Advancements in Teleconsultancy: The introduction of more affordable PKU treatments, such as Dr. Reddy’s Laboratories generic version of Kuvan, may expand market accessibility.
Rising Investments in Gene Therapy: Investment in gene therapy research for PKU treatment, exemplified by BioMarin Pharmaceutical Inc., offers a potentially curative solution.
Increased Demand for Generic Drugs: Development of generic PKU drugs could make treatment more accessible, fostering market expansion.
Untapped Markets in Developing Regions: Efforts to improve PKU awareness, diagnosis, and screening in Asia and Africa may open new potential markets.
Government Support for PKU Research: Governmental funding and caregiver programs offer opportunities for further market expansion.
Market Challenges
High Treatment Costs Limiting Market Growth: The cost of PKU treatment remains a significant barrier, especially in developing regions.
Limited Understanding of PKU in Some Populations: Inadequate awareness and diagnostic facilities challenge PKU identification in certain regions.
Dietary Compliance and Treatment Adherence: Ensuring patient adherence to dietary restrictions remains challenging.
Regulatory Hurdles in Drug Approval: Lengthy approval processes and delays can limit the number of available treatment options.
The phenylketonuria treatment market is poised for remarkable growth, driven by a combination of factors. As research continues and awareness spreads, the outlook for PKU patients worldwide is increasingly promising.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/phenylketonuria-treatment-market
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COMTEX_441648454/2840/2023-10-09T12:54:55
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.