PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1402634
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1402634
The Global Sodium Phenylbutyrate Market size is projected to reach US$ 3.02 Bn by 2030, from US$ 1.92 Bn in 2023, at a CAGR of 6.7% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 1.92 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.70% | 2030 Value Projection: | US$ 3.02 Bn |
Sodium phenylbutyrate (SPB) is a notable pharmaceutical compound that has garnered significant attention in medical research and treatment approaches. As a derivative of phenylbutyric acid, SPB exhibits a wide array of therapeutic properties, making it a promising candidate for various medical conditions. Its primary application lies in the management of urea cycle disorders, a group of genetic conditions that impair the body's ability to eliminate ammonia effectively. Additionally, ongoing studies are exploring its potential for mitigating neurodegenerative diseases and cancer. This introduction aims to shed light on the essential role of sodium phenylbutyrate in advancing medical science and enhancing patient care.
The increasing prevalence of urea cycle disorders (UCDs), growing awareness and diagnosis of rare diseases, and the expansion of orphan drug development are anticipated to drive growth of the global sodium phenylbutyrate market over the forecast period. Moreover, advancements in pharmaceutical research and development are also expected to boost the growth of the global sodium phenylbutyrate market over the forecast period. Expansion into emerging markets, development of combination therapies, expansion of indications, and increasing focus on precision medicine are expected to create growth opportunities for the global sodium phenylbutyrate market during the forecast period. The increasing prevalence of urea cycle disorders and cancer globally is driving the demand for effective treatments, which in turn is expected to boost the market growth for sodium phenylbutyrate.
However, limited awareness and underdiagnosis, high treatment costs, stringent regulatory requirements and side effects and safety concerns are expected to hamper growth of the sodium phenylbutyrate market over the forecast period.
Sodium Phenylbutyrate Market Detailed Segmentation: