North America to claim 36% of the global hyperphosphatemia diagnosis market in the next decade due to increased investments and advanced healthcare.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, October 26, 2023 /EINPresswire.com/ -- The worldwide hyperphosphatemia industry is anticipated to reach a valuation of around US$ 12.66 billion in 2023 and grow at a compound annual growth rate (CAGR) of more than 4.8% until 2033. By 2033, the market is predicted to reach an astounding US$ 20.24 billion in value.

Various calcium-based phosphorus binders are being used in the present day as calcium supplements and can replace aluminum-based phosphorus binders. The development of new treatment therapies for hyperphosphatemia is being pursued across the globe by companies. Future generations will benefit from emerging treatments that will transform treatment dynamics. Market trends are shifting towards non-phosphate binders. Additionally, new products are being introduced in developing countries to propel hyperphosphatemia industry growth.

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A majority of dialysis patients with hyperphosphatemia are treated with phosphate binders, according to the National Center for Biotechnology Information (NCBI). The prevalence of chronic renal diseases is expected to significantly support the market's growth over the forecast period. With China's central government focusing on robust growth initiatives, it is predicted that demand for hyperphosphatemia medications will increase due to the country's expanding healthcare infrastructure.

As chronic diseases become more prevalent in the population, the market for hyperphosphatemia treatment is expected to increase. ESRD patients with hyperphosphatemia have been more likely to need treatment for hyperphosphatemia, so the demand for hyperphosphatemia drugs or treatment has increased.

Key Takeaways from the Market Study:

The global hyperphosphatemia industry is expected to reach US$ 20.24 billion by 2033, growing at a CAGR of 4.8%.

Iron-based phosphate binder is expected to grab 20% of the hyperphosphatemia industry by 2023.

North America accounted for 36% of the worldwide revenue generated by hyperphosphatemia in 2023.

According to predictions for 2023, Europe will hold 25% of the global market.

With more than 8% market share, the low serum calcium level test is the most popular test type for the hyperphosphatemia industry.

“Researchers are studying more and more new drugs and therapies. In recent years, at-home test kits have gained popularity. A generics reimbursement program will reduce coverage for expensive therapies,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI) analyst.

Competitive Landscape:

As companies with a wide geographic reach look to expand their product offering and develop more complex applications, they are taking collaborative steps to boost sales, from acquiring other businesses into their own to creating a more flexible medical system.

Strategic, profitable partnerships are helping competitors consolidate their market presence. By acquiring and partnering with companies, advanced technology can be used more effectively. Several deals are entered into by home health kits in order to expand their technology horizons.

Biopharmaceutical company Ardelyx, Inc., founded to find, develop and commercialize innovative first-in-class medicines to address significant unmet medical needs, announced that three posters will be presented during Kidney Week 2022, which will be held in Orlando, Florida, from November 3-6, 2022. A phosphate absorption inhibitor (PAI) developed and discovered by Ardelyx for treating chronic kidney disease (CKD) suffering from dialysis patients is XPHOZAH (tenapanor).

The RENAZORB bioequivalence (BE) study has concluded enrollment at Unicycive Therapeutics, a clinical-stage biotechnology company. Research is being conducted to develop RENAZORB (lanthanum dioxycarbonate) to treat hyperphosphatemia in kidney dialysis patients with chronic kidney disease.

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Some of the leading companies operating in the Hyperphosphatemia Industry are:

Ardelyx
Shield Therapeutics
Sanofi
Takeda Pharmaceutical Company
Astellas Pharma Inc.
Akebia Therapeutics Inc.
Lupin Ltd.
Zeria Pharmaceutical
Vifor Pharma Management Ltd.
Keryx Biopharmaceuticals

Key Segments Profiled in the Hyperphosphatemia Industry Survey:

By Drug Class:

Calcium Based Phosphate Binders
Iron Based Phosphate Binders
Lanthanum Carbonate
Non-Phosphate Binders

By Test Type:

Low Serum Calcium Level Test
Blood Urea Nitrogen Test
Phosphate Level Test
Creatinine Value Test

By End User:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
Middle East & Africa

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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