Phenylketonuria Market to Hit US$ 1,230.05 Million By 2030 | Latest Data Insights
Consegic Business Intelligence analyzes that the phenylketonuria market is growing with a CAGR of 5.2% during the forecast period (2023-2030), owing to the increasing prevalence of phenylketonuria across the globe, and major participants includes are Cambrooke Therapeutics, BioMarin Pharmaceutical, Inc., PTC Therapeutics, Codexis, Synlogic, Pristine Organics
New York, Sept. 07, 2023 (GLOBE NEWSWIRE) — The global Phenylketonuria Market is expected to witness significant growth at a CAGR of 5.2% during the forecast period of 2023-2030. This growth is attributed to the Increasing support and funding for research and development of new PKU treatments.
According to a recent report by Consegic Business Intelligence, the phenylketonuria market is poised for strong expansion and is expected to reach USD 1,230.05 million by 2030. The market, which was valued at USD 820.57 million in 2022, is projected to grow at a compound annual growth rate of 5.2% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market’s competitive landscape, market segmentation, regional outlook, and emerging technologies in the phenylketonuria market.
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Phenylketonuria is a rare genetic disorder, which decreases the metabolism of amino acids in the blood resulting in the formation of phenylalanine. A person diagnosed with phenylketonuria poses significant cognitive and neurological challenges when left untreated.
Phenylketonuria is divided into four major types hyperphenylalaninemia, mild PKU, moderate and variant, and classic PKU, among which classic PKU contains the highest levels of phenylalanine in the blood. Increasing research and development for the development of medications along with nutritional supplements to suppress the effect of phenylketonuria is improving the outcome and enhancing the quality of life among phenylketonuria patients.
Global Phenylketonuria Market: Report Attributes
|Report Attributes||Report Details|
|Market Size in 2030 (USD Million)||1,230.05 Million|
|By Type||Hyperphenylalaninemia, Mild PKU, Moderate and Variant, and Classic PKU|
|By Product Type||Drugs (Kuvan, Pegavaliase, and Others), Nutritional Supplements, and Others|
|By Distribution Channel||Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Region||North America, Asia-Pacific, Latin America, Europe, Middle East & Africa|
|Key Players||Cambrooke Therapeutics, American Gene Technologies International, Inc., BioMarin Pharmaceutical, Inc., PTC Therapeutics, Relief Therapeutics Holding SA, Codexis, Inc., Agios Pharmaceuticals Inc, Castle Crek Biosciences, Inc., Synlogic, Pristine Organics, and Galen Pharma|
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Global Phenylketonuria Market Segmentation Details:
Based on Type, in 2022, the classic PKU segment contributed the largest market shares in the phenylketonuria market. Classic PKU is the most severe form of phenylketonuria (PKU). It is caused by a mutation in the phenylalanine hydroxylase (PAH) gene that results in a complete or near-complete deficiency of the PAH enzyme.
Based on Product Type, in 2022, the nutritional supplements segment contributed the largest market shares in the phenylketonuria market. Nutritional supplements are easy to consume in comparison with other product types. Nutritional supplements are available in various forms such as powder, liquid, tablets, capsules, and others. These supplements can be easily consumed along with food, smoothies, shakes, and other forms.
Based on Distribution Channel, in 2022, the hospital pharmacies segment contributed the largest market shares in the phenylketonuria market. The drugs and supplements required for the treatment of phenylketonuria are rarely available in pharmaceutical stores due to the lower rarity of the disease and the lesser availability of effects medications in the market. Hospital pharmacies are the prominent distribution channels that are equipped to provide a comprehensive range of medicines, drugs, and supplements for phenylketonuria treatment.
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Based on Region, in 2022, North America accounted for the largest share contribution of 38.50% to the market growth. The higher number of people diagnosed with PKU and rising government initiatives for the treatment of PKU across the region. For instance, according to the report by National PKU Alliance, the estimated number of people diagnosed with PKU in the U.S. accounted for 16,500 people. Moreover, the increasing launch of new and advanced drug therapies and medications across the region is also driving the growth of the phenylketonuria market.
Cambrooke Therapeutics, BioMarin Pharmaceutical, Inc., and PTC Therapeutics are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the phenylketonuria market is expected to grow due to the increasing prevalence of phenylketonuria across the globe, increasing research and development for the launch of effective treatments, and technological advancements among others. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- In June 2023, Relief Therapeutics and World Orphan Drug Alliance announced a partnership for the distribution of phenylketonuria treatment drugs in the Middle East region.
- In July 2022, Relief Therapeutic Holdings S.A., announced the acquisition of Meta Healthcare Ltd. As per the acquisition, Meta Healthcare Ltd. provides a technology transfer package, regulatory submission, and commercialization of Relief Therapeutic Holdings S.A.’s phenylketonuria treatment drug in the U.S. and Europe region.
Key Market Takeaways
- Based on type, the classic PKU segment accounted for the highest market share in the phenylketonuria market statistics in 2022.
- Based on product type, the nutritional supplements segment accounted for the highest market share in the phenylketonuria market statistics in 2022.
- Based on the distribution channel, the hospital pharmacies segment accounted for the highest market share in the phenylketonuria market statistics in 2022.
- Europe is expected to grow at the fastest CAGR of 5.9% during the forecast period due to the growing frequency of phenylketonuria disease across European countries.
- In 2022, North America accounted for the highest market share of 38.50% and was valued at USD 315.92 million and is expected to reach USD 476.64 million in 2030.
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List of Major Global Phenylketonuria Market:
- Cambrooke Therapeutics
- American Gene Technologies International, Inc.
- BioMarin Pharmaceutical, Inc.
- PTC Therapeutics
- Relief Therapeutics Holding SA
- Codexis, Inc.
- Agios Pharmaceuticals Inc
- Castle Crek Biosciences, Inc.
- Pristine Organics
- Galen Pharma
Global Phenylketonuria Market Segmentation:
- By Type
- Mild PKU
- Moderate and Variant
- Classic PKU
- By Product Type
- Nutritional Supplements
- By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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Frequently Asked Questions in the Phenylketonuria Market Report
- What was the market size of phenylketonuria in 2022?
- In 2022, the market size of phenylketonuria was USD 820.57 million.
- What will be the potential market valuation for phenylketonuria by 2030?
- In 2030, the market size of phenylketonuria is expected to reach 1,230.05 million.
- What is the key restraint hampering the growth of the phenylketonuria market?
- High cost of phenylketonuria treatments is restraining the market growth.
- What is the dominating segment in the phenylketonuria market, by product type?
- In 2022, the nutritional supplements segment accounted for the highest market share in the overall phenylketonuria market.
- Based on current market trends, which geographical region contributed the largest share of the market?
- North America accounted for the largest market share in the phenylketonuria market.
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