Global Hyperphosphatemia Market Size To Grow USD 4.2 Billion by 2030 | CAGR of 6.5%Category: Healthcare
Global Hyperphosphatemia Market worth $4.2 Billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Hyperphosphatemia Market Size to grow from USD 3.1 Billion in 2021 to USD 4.2 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.
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Browse key industry insights spread across 190 pages with 130 market data tables and figures & charts from the report on "Global Hyperphosphatemia Market Size, Share, and COVID-19 Impact Analysis, By Product (sevelamer, calcium based phosphate binders, iron based phosphate binders, non phosphate binders, lanthanum carbonate, others), By Distribution Channel (hospital pharmacy, online pharmacies, retail pharmacies), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/hyperphosphatemia-market
A disorder called hyperphosphatemia happens when there is an excessive amount of phosphate in the blood. An unusually high level of phosphate may be present in people with cardiovascular disease and chronic renal illness. In patients with chronic renal diseases, hyperphosphatemia is a significant risk factor for both morbidity and mortality. Confusion, appetite loss, bone pain, and bone fractures are just a few of the problems that can result from hyperphosphatemia, a condition in which the body has an excessively low number of phosphates. Body parts including bones and teeth, as well as the interiors of cells and the blood, all contain phosphorus. The body's phosphate content also contributes to the kidneys' efficient operation. However, some illnesses or complications might cause kidney damage, which results in a very high quantity of phosphate in the blood. Those with chronic renal disease, an advanced form of kidney disease, frequently experience hyperphosphatemia. High vitamin D levels, uncontrolled diabetes, diabetic ketoacidosis, and low parathyroid hormone levels are additional causes of hyperphosphatemia.
One of the main factors driving the market's expansion is the increase in chronic renal disease cases worldwide. The burden of CKD is growing tremendously and will continue to do so in the future years. In actuality, it will rank among the most frequent causes of death in the upcoming years. According to a data released by the National Kidney Foundation Inc., about 7,85,883 People required dialysis or a kidney transplant in 2018 due to kidney failure. Following a specific amount of time, the majority of dialysis patients developed hyperphosphatemia.
Global hyperphosphatemia market expansion will be fueled by an increase in product launches in developing nations. For instance, Velphoro (PA21), which is used to lower serum phosphorous in elderly individuals, produced positive results from a phase III research in China in April 2021, according to Vifor Fresenius Medical Care Renal Pharma (VFMCRP). In addition, to treat hyperphosphatemia, Emcure Pharmaceuticals launched the first-ever generic version of sucroferric oxhydroxide (Dynulta) in India in July 2020. Consequently, a growing number of product approvals will fuel market expansion in developing nations.
Poor treatment adherence among dialysis patients due to the high tablet burden is impeding market expansion. For instance, a dialysis dependent patient takes between 10 and 12 different types of medications, which might lead to gastrointestinal intolerance adverse effects, according to an article published by the National Center for Biotechnology Information (NCBI). Thus, these characteristics will make it more difficult for CKD patients to employ phosphate binders.
Sevelamer segment holds the largest market share over the forecast period.
On the basis of product, the global hyperphosphatemia market is segmented into sevelamer, calcium based phosphate binders, iron based phosphate binders, non phosphate binders, lanthanum carbonate, and others. Among these, the sevelamer segment is dominating the market with the largest market share over the forecast period. The rising demand for the product as a result of the rise in incidences of renal disease is one of the key factors anticipated to fuel global revenue growth. The medication's application is increased by the fact that it is both efficient and well-tolerated by both. Both chronic renal diseases and situations involving patients getting haemodialysis are treated with it.
Distribution Channel Insights
Hospital Pharmacy segment to dominate the market with the highest market share over the forecast period.
On the basis of distribution channel, the global hyperphosphatemia market is segmented into hospital pharmacy, online pharmacies, and retail pharmacies. Among these, the hospital pharmacy segment is anticipated to dominate the market with the highest market share over the forecast period due to the growing number of patients seeking dialysis in hospitals around the world. In addition to this, the number of patients who depend on dialysis has increased in developing nations like China and India. Hence, this leads to segmental expansion.
North America dominates the market with the largest market share over the forecast period.
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North America is expected to have the largest market for medications to treat hyperphosphatemia as a result of an ageing population and an increase in cases of chronic renal disease. The United States, Canada, and Mexico are a few of the significant North American countries with substantial contribution rates to this industry. It is predicted that the market for Hyperphosphatemia Medicines would expand the fastest in the Asia Pacific region, which includes countries like China, Japan, and India. Germany, Italy, and France are some of the other nations that are anticipated to increase.
The Middle East and Africa are predicted to have the smallest market for Hyperphosphatemia Medicines due to poor healthcare spending rates, a lack of public education, and a high need-based approach to treatment alternatives in this region. Saudi Arabia, South Africa, and the United Arab Emirates are some of the major donors to this region.
Major vendors in the Global Hyperphosphatemia Market include Amag Pharmaceuticals, Johnson and Johnson, Keryx Biopharmaceuticals, DSM Biotech Pharmacal, Sun Pharm Inc., Zeria Pharmaceutical, Bruno Pharmaceutical Spa, Fermenta Biotech Ltd,, Pfizer Inc., Roche Diagnostics Corporation.
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