by The global sodium phenylbutyrate market is primarily driven by the increasing prevalence of urea cycle disorders (UCDs) worldwide. Sodium phenylbutyrate is one of the key therapeutic options for treating UCDs, which are a group of rare genetic disorders characterized by deficiencies of enzymes and transporters involved in the urea cycle. Sodium phenylbutyrate assists in removing toxic levels of ammonia from the blood in patients suffering from UCDs.
The Global sodium phenylbutyrate market is estimated to be valued at US$ 2.22 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the sodium phenylbutyrate market are Halliburton Co., Hifi Engineering Inc., Silixa Ltd., Schlumberger Limited, Banweaver, Omnisens SA, Future Fibre Technologies Ltd., Baker Hughes, Inc., Qintiq Group PLC, and Fotech Solutions Ltd. The major players are focusing on new product launches and strategic collaborations to expand their market share. For instance, in 2021, Hifi Engineering Inc. launched a sodium phenylbutyrate drug to treat UCDs.
The growth in pharmaceutical industry and increasing investments in R&D activities of niche therapeutic areas present significant growth opportunities for players in the Sodium Phenylbutyrate Market Trends Development of advanced drug delivery methods such as powder formulations is expected to witness high demand over the forecast period.
Advent of precision medicine and development of personalized therapeutic interventions for UCDs is expected to drive the sodium phenylbutyrate market. Ongoing clinical trials evaluating the efficacy and safety sodium phenylbutyrate for wider applications are further expected to support market growth over the coming years.
Market Drivers
Increasing economic burden of UCDs worldwide necessitates innovative treatment options, driving the demand for sodium phenylbutyrate. According to a report by National Organization for Rare Disorders (NORD), the total annual cost of medical treatment for UCDs in the US is over US$ 1 Mn per patient, creating significant treatment demand. Additionally, rising healthcare expenditure accompanied by growing medical insurance coverage is also supporting the market growth. Demographic shifts towards branded medicines due to rising disposable income levels in developing countries also contributes to the increasing uptake of sodium phenylbutyrate.
The sodium phenylbutyrate market is facing various challenges which can hamper its growth potential during the forecast period. One of the major challenges is the availability of alternative treatment options for various urea cycle disorders and amino acid metabolic disorders. There are various enzyme substitution therapies and dietary supplements available which can effectively manage the symptoms of these disorders. This increases treatment options for patients and physicians, thereby impacting the demand for sodium phenylbutyrate.
Storage and handling of sodium phenylbutyrate also poses challenges as it needs to be kept away from heat and moisture. Any contamination can damage the drug which can affect its efficacy and safety. Moreover, manufacturing sodium phenylbutyrate is a complex process involving various chemical reactions and separation techniques. This increases production costs. Additionally, stringent regulations surrounding the manufacturing and supply of orphan drugs further add to the challenges.
A key challenge currently faced by the sodium phenylbutyrate market is drug shortages. Due to unpredictable patient demand and complexity in manufacturing, incidents of drug shortages have increased over the past few years. This poses significant treatment challenges for patients suffering from urea cycle disorders and amino acid metabolic disorders. It can disrupt continuity of care and force patients to explore costly alternatives. Ensuring consistent supply of the drug through prudent manufacturing planning and inventory management is the need of the hour. However, it remains a daunting task considering various external uncontrollable factors. If not addressed properly, drug shortages can negatively impact adherence to therapy and clinical outcomes.
SWOT Analysis
Strength: It is the only approved drug for treating urea cycle disorders. This provides it first-mover advantage.
Weakness: High manufacturing costs and availability of alternative treatment options.
Opportunity: Increasing patient awareness and demand from emerging markets.
Threats: Expiry of patents and threat from generic competition. Regulatory challenges pertaining to orphan drugs.
North America currently represents the most lucrative market for sodium phenylbutyrate, both in terms of value and volume. This is mainly due to high diagnosis and treatment rates for urea cycle disorders and amino acid metabolic disorders in the region. According to estimates, the North America sodium phenylbutyrate market accounted for over 45% of the global market value in 2021. Within North America, the U.S. commands the major share due to presence of favorable reimbursement policies and sophisticated healthcare infrastructure. Europe is the second largest regional market driven by high healthcare expenditure and focus on rare disease treatment. The markets in Asia Pacific and Latin America are expected to witness higher growth during the forecast period.
The Asia Pacific region is anticipated to be the fastest growing market for sodium phenylbutyrate during the forecast period. This is attributed to increasing healthcare expenditure, growing adoption of orphan drugs, and expansion of key players in emerging countries. Rapidly developing pharmaceutical infrastructure, rising medical tourism, and surging patient awareness about rare disease treatment options are also fueling the market growth. Countries
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
