May 03, 2021
According to the business intelligence report titled ‘GLOBAL Hyperphosphatemia Drugs Market 2019-2027’, available with Market Study Report LLC, global hyperphosphatemia drugs market is anticipated to grow at a noteworthy compound annual growth rate of 16.61% over the forecast period of 2019-2027.
Growing prevalence of chronic conditions such as kidney diseases, hypertension, and diabetes, surging investments towards research & development activities, and increasing efforts towards introducing new drugs are spurring global hyperphosphatemia drugs market growth.
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For the record, hyperphosphatemia refers to a late-stage kidney disorder which elevates the phosphate levels in the blood. Ongoing technological advancements, rising geriatric population, innovative product launches, and strategic alliances among key participants are positively swaying the market dynamics.
Implementation of stringent rules by regulatory bodies such as the FDA, limited access to drugs, and consumer inclination towards using alternative dialysis techniques, however, could restrain the growth of global hyperphosphatemia drugs market.
With regards to geographical reach, the overall market is fragmented into Asia-Pacific, Latin America, Europe, Middle East & Africa, and North America. Among these, North America currently accounts for the largest portion in terms of revenue, owing to rising prevalence of osteoporosis, diabetes, and chronic kidney disorders.
On the other hand, Asia-Pacific hyperphosphatemia drugs market is slated to grow tremendously, expanding at the highest growth rate over the forecast period. Rapid advancements in the healthcare sector and favorable government initiatives are propelling the regional industry expansion.
Speaking of competitive landscape, Pfizer Inc., AMAG Pharmaceuticals Inc., Sanofi S.A, Zeria Pharmaceutical Co. Ltd., Roche Diagnostics Corporation, Bio-Tech Pharmacal Inc., Ultragenyx Pharmaceutical Inc., Shire plc, Fresenius Medical Care AG & Co. KGaA, Keryx Biopharmaceuticals Inc., Fermenta Biotech Ltd., Koninklijke DSM N.V., Cipla Ltd., Johnson and Johnson, Bruno Farmaceutici S.p.A., and Sun Pharmaceutical Industries Ltd. are the leading companies defining global hyperphosphatemia drugs industry trends.