Rising cases of cardiac and renal ailments, developments within the medical sector because of Research and Development, and contemporary lifestyle are the key factors driving the market. Phosphate Binders are used to balance the phosphate levels in the body and eliminate any excess phosphate that the body does not excrete on its own. There has been a rise in the number of cases of cardiac and renal illness. A person with kidney disease may not be able to remove excess phosphorus from the body. Hyperphosphatemia causes an imbalance in various body functions, and can also lead to heart disease.
The Phosphate Binders Market is estimated to grow at 4.5% CAGR in 2022-2031 reaching a market size of value 1.36 Billion.
Moreover, contemporary lifestyles and unhealthy eating habits have left a large portion of the population vulnerable to kidney disease. Another market force which is likely to emerge as a result of this. Also, continuous research and development have resulted in the invention of new medications. As a result, calcium- and aluminum-free phosphate binders have developed, which have less detrimental consequences. Because of the high price of Phosphate Binders, the absence of an efficient reimbursement scheme, and the accompanying side effects may limit market expansion.
The high cost of Phosphate Binders makes it difficult for some people to purchase them. Furthermore, the lack of adequate compensation policies prevents consumers from using such services because they may not receive a proper payment within a reasonable time limit. Government policies and regulations, as well as financial constraints, restrict companies from creating newer medications. People are often deterred from utilizing these binders because of the negative side effects. Excessive use of calcium- or aluminum-based phosphate binders can cause hypercalcemia and encephalopathy.
Key trends & drivers
The growing frequency of chronic kidney ailments is propelling the worldwide phosphate binding agents market forward. Chronic kidney dysfunction, for example, affects approximately 20 million individuals in the United States, and its prevalence is quickly increasing among those over the age of 65. FDA has authorized the use of phosphorous binding agents in hyperphosphatemia caused by chronic kidney disease. The rising prevalence of kidney disorders will serve as a market driver. Similarly, growing awareness of the difficulties associated with chronic kidney disease and treatment alternatives is driving the global Phosphate binders market forward. On the other hand, Phosphate binding drugs cause gastrointestinal side effects such as diarrhea, nausea, vomiting, and abdominal discomfort. The market for phosphate binding agents is being held back for this reason.
Some of the major key player include Opko Health, Akebia Therapeutics, Sanofi, Baxter, Shire, Natco Novartis and others.
The market for phosphate binding agents are being dominated by North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America has the largest market share due to high research and development efforts, favorable reimbursement rules, and the accessibility of advanced healthcare delivery systems. The Affordable Care Act has placed many restrictions on hospitals and pharmaceutical firms which concerns the price of new medications. Due to the presence of great analytical firms and research centers, Europe is the second-largest market for phosphate binding agents. However, the absence of appropriate reimbursement laws and strategic foundation for new medication development might limit the markets growth in Europe throughout the projection period.
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• Data breakdown for every market segment (2021-2031)
• Gross breakdown for every market segment (2021-2031)
• Price analysis of each product type
• Business trend and expansion analysis
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• Competition analysis/market share
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Industry and Revenue Segmentation
Product type analysis (Revenue, USD Million, 2022-2031)
Application analysis (Revenue, USD Million, 2022-2031)
• Hyperphosphatemia of renal failure
Distribution channel analysis (Revenue, USD Million, 2022-2031)
• Hospital Pharmacies
• Retail Pharmacies
• Private Clinics
Key player analysis (Revenue, USD Million, 2022-2031)
• Opko Health
• Akebia Therapeutics
• Natco Novartis
Regional Analysis (Revenue, USD Million, 2022 – 2031)
• United States
• United kingdom
• South Korea
• Saudi Arabia
• Rest of the world
• United States Phosphate Binders Industry Research Report
• Europe Phosphate Binders Industry Research Report
• Asia Phosphate Binders Industry Research Report
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