June 18, 2024
Sodium Phenylbutyrate Market

Sodium Phenylbutyrate Market Witnesses Unprecedented Growth With Hike In Demand For Urea Cycle Disorders Treatment

The sodium phenylbutyrate market is witnessing robust growth on account of rising preference for efficient treatment of urea cycle disorders. Sodium phenylbutyrate is an essential medication used for the management and treatment of urea cycle disorders by helping remove excess ammonia from the blood. It acts as a nitrogen scavenger by helping transport nitrogen waste out of the body.

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. These companies are focusing on strengthening their product portfolios and expanding their global footprint to capitalize on the lucrative opportunities in this high growth market.

The growing prevalence of urea cycle disorders worldwide primarily drives the demand for Sodium Phenylbutyrate Market Trends According to statistics, approximately 1 in 30,000 newborns worldwide suffer from urea cycle disorders, which necessitates lifelong treatment and management. Moreover, increasing awareness regarding the availability of targeted therapies and growing healthcare expenditure in emerging nations are also propelling the sodium phenylbutyrate market.

Globally, the sodium phenylbutyrate market is penetrating new territories on account of ongoing clinical trials and regulatory approvals. Key players are actively focusing on geographic expansion plans and product commercialization in untapped markets of Asia Pacific and Latin America. This helps them reach out to a wider patient pool and strengthen their market position.

Market Key Trends

Rising focus on combination drug therapies presents a key growth trend in the sodium phenylbutyrate market. Traditionally, sodium phenylbutyrate was prescribed as a stand-alone medication for urea cycle disorders. However, with ongoing clinical research, its efficacy as an adjunct therapy with other disease-modifying drugs has gained prominence. Combination of sodium phenylbutyrate with novel formulations holds potential to achieve optimal treatment outcomes. This is prompting companies to invest in combination drug development through partnerships with diagnostic players. Such initiatives are expected to revolutionize the treatment landscape and drive robust growth of the sodium phenylbutyrate market during the forecast period.

Porter’s Analysis

Threat of new entrants: New companies entering this market face high capital requirement for production and supplying need of large customers.

Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over suppliers due to their large orders and bulk purchasing abilities.

Bargaining power of suppliers: The presence of a large number of sodium phenylbutyrate suppliers reduces individual supplier’s bargaining power over prices.

Threat of new substitutes: Potential substitute molecules require extensive clinical trials thus threat is low however, generics post patent expiry can pose threats.

Competitive rivalry: Companies compete on quality, reliability, services and price to create sustainable competitive advantage in this market.

Geographical regions

North America dominates the global Sodium Phenylbutyrate Market owing to the high prevalence of urea cycle disorders in the region and developed healthcare infrastructure. The United States holds majority of the market share in the North American region due to supportive government regulations and high healthcare expenditure.

Asia Pacific is anticipated to witness the fastest growth over the forecast period driven by increasing healthcare expenditure, growing economy and large patient pool suffering from urea cycle disorders especially in China and India. Improving access to healthcare in emerging Asian countries also supplements the regional market growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.