Sodium Phenylbutyrate is an FDA approved medication primarily used to treat orphan diseases like urea cycle disorders which involve congenital deficiency of enzymes or transporters involved in urea cycle. It assists in waste nitrogen disposal through alternative pathways.
The global Sodium Phenylbutyrate Market is estimated to be valued at US$ 1.92 Bn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The orphan disease treatment market has witnessed a steady rise owing to increasing research funding and government incentives for orphan drug development. Sodium Phenylbutyrate, being one of the first line treatments for urea cycle disorders, has gained significant adoption over the years. Its stable effectiveness and safety profile have helped grow patients’ confidence in it. This rising demand from the orphan disease therapy segment is expected to drive the sodium phenylbutyrate market forward over the forecast period.
SWOT Analysis
Strength: Sodium Phenylbutyrate has strong application in treatment of urea cycle disorders making it an essential drug. It helps to prevent toxic levels of ammonia in the blood.
Weakness: Stringent regulations related to drug development and manufacturing acts as a challenge. Shift towards alternative treatment methods can threaten market growth.
Opportunity: Rising incidence rates of urea cycle disorders and genetic diseases drives demand. Increasing research activities to develop sodium phenylbutyrate for wider applications presents opportunities.
Threats: Availability of substitutes poses competition in the market. Supply demand gap and price fluctuations of raw materials are major threats.
Key Takeaways
The Global Sodium Phenylbutyrate Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated at US$ 1.92 Bn with a CAGR of 4.2% during the forecast period.
Regional analysis: North America dominates the global market and is expected to maintain its lead over the forecast period. This is attributed to rising patient pool and presence of major players. Asia Pacific is expected witness fastest growth due to increasing healthcare investments, expanding diagnostics facilities and rising awareness.
Key players operating in the sodium phenylbutyrate market are Procter & Gamble (P&G) Chemicals, CREMER, Wilmar, VVF Ltd., KLK OLEO, Inoue Perfumery MFG, Wuhan Yuancheng Gongchuang, Changsha Jianglong Chemicals, and Godrej Industries. The market is dominated by few established companies however new product approvals and expansion strategies by companies is expected to increase the competition over the forecast period.
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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
