Kenneth Research, in its repository of market research reports, has recently added a report on X-Linked Hypophosphatemia Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The X-Linked Hypophosphatemia Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for X-Linked Hypophosphatemia Market products.
Kenneth Research has recently added a report titled X-Linked Hypophosphatemia Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
According to a statistical report titled “Global Spending on Health: A World in Transition”, released in theyear 2019 by the World Health Organization (WHO), the global spending on healthcare recorded USD 7.8 trillion in 2017, which was an increase by USD 0.2 trillion from the recorded value of USD 7.6 trillion in 2016.
Recently, a significant growth in healthcare spending have been observed in the low- and middle-income nations. In the middle-income nations, healthcare spending rose by 6.3% a year between 2000 and 2017, while the economy rose by 5.9% a year. Additionally, health spending in low-income countries also observed a growth by 7.8% a year in the same period. The growth in the healthcare spending of these nations can be attributed to the increasing focus of the governments in these nations to meet the laid down targets of the Sustainable Development Goals (SDGs) of 2030. Such factors are anticipated to drive the growth of the X-Linked Hypophosphatemia Market during the forecast period.
Market Analysis
XLH is an inherited phosphate metabolism disorder in which inactivating mutations of the PHEX gene lead to local and systemic effects such as impaired growth, rickets, hearing difficulties, enthesopathy, osteomalacia, bone pain, bone abnormalities, spontaneous dental abscesses, osteoarthritis, and muscular dysfunction. The growing cases of XLH in developing countries and developed countries, the global XLH market is expected to grow steadily during the forecast period. For instance, according to a European Journal of Endocrinology statistics released in 2016, the incidence of XLH is estimated to be 3.9 per 100,000 live births and has a incidence of 4.8 per 100,000 people. Also, according to a study published in May 2016 by NIHR Horizon Scanning Research & Intelligence Centre, XLH affected more than 500 children in the UK. X-linked hypophosphatemia (XLH) is an inherited condition characterized by lower levels of phosphate in the blood.
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The phosphate levels lessen as it is exceptionally processed for the kidneys, resulting in the loss of phosphate over the urine (phosphate wasting) and leads to soft and weak bones, causing rickets. XLH is generally diagnosed in childhood, and symptoms have lowered or bent legs, short stature, bone pain, and heavy dental pain. XLH is due to mutations PHEX gene on the X chromosome, and the legacy of the X-linked is the dominant. The treatment generally involves supplements of phosphate and high-dose calcitriol (an active form of vitamin D) and may include growth hormones and remedial surgery. Main factors accountable for driving the market are growing a prevalence of XLH, growing awareness about XLH.
However, negative psychological and emotional impacts of having X-linked hypophosphatemia, post-operative complications, unfavorable drug price control policies in many countries, increasing penetration of counterfeit drugs, and complex license renewal procedures are hindering the growth of the global X-linked hypophosphatemia market.
The Global X-Linked Hypophosphatemia Market is forecast to register a CAGR of 3.6% in order to achieve USD 40,309.1 Thousand by the year 2025. In the Same Way, according to statistics published in 2017 by the Food and Drug Administration (FDA), XLH had an impact on an approximate of 3,000 children and 12,000 adults in the US. And according to a report published in the year 2017 by the National Institute for Health and Care Excellence, there were around 250 children and young people with XLH in England, and up to 2,500 adults, till date. Thus, total market growth is expected to rise due to rising incidence of XLH, which required enough drugs and therapies for treatment. The X-linked hypophosphatemia (XLH) market by treatment has been divided into medication and Surgical or orthopedic treatment.
The X-linked hypophosphatemia market is categorized by the end user into hospitals and clinics and research facilities. The research centers segment is expected to account for the largest market share during the forecast period attributing to the increasing prevalence of XLH, a growing awareness regarding the disease, and growing scientific activity for its treatment. The global X-linked hypophosphatemia market, according to the region, is segmented into the Americas, Europe, Asia-Pacific, and RoW. Factors such as the increasing prevalence of XLH and increasing awareness about the disorder is expected to boost the growth of the global X-Linked hypophosphatemia market.
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Market Segmentation
The global X-linked hypophosphatemia (XLH) market has been segmented by treatment, by end user and by region. By treatment the Global X-Linked Hypophosphatemia Market has been segmented into Medication and Surgical or Orthopedic Treatment. Based on End User the market has been segmented into Hospitals and Clinics and Research Centres. Global X-Linked Hypophosphatemia Market based on region is split into different regions like Americas, Europe, Asia-Pacific, Middle East and Africa. America include North America (US, Canada and South America), Europe (covering Germany, UK, France, Spain, Italy and Rest of Europe), Asia-Pacific (covering China, India, Japan, Australia & New Zealand, Southeast Asia and Rest of Asia-Pacific), Middle East and Africa.
Regional Analysis
Geographically, the Global X-Linked Hypophosphatemia Market based on region is split into different regions like Americas, Europe, Asia-Pacific, Middle East and Africa. America include North America (US, Canada and South America), Europe (covering Germany, UK, France, Spain, Italy and Rest of Europe), Asia-Pacific (covering China, India, Japan, Australia & New Zealand, Southeast Asia and Rest of Asia-Pacific), Middle East and Africa. The XLH market in the Americas is expected to hold significant market share owing to the growing prevalence of XLH in the US and Canada and the presence of a well-established healthcare sector. Growing funding for research towards rare diseases such as XLH and the high healthcare expenditure is expected to fuel the growth of the market within the forecast period. For example, Genome Canada and the Canadian Institutes for Health Research partnered to study rare genetic disorders by using Next-Generation Sequencing (NGS) technology.
In the Same Way, the International Rare Diseases Research Consortium (IRDiRC) is a Scientific Secretariat that collaborates with Orphanet. Since 2010, IRDiRC financed over 3,000 projects. Additionally, according to statistics published in the year 2017 by the Food and Drug Administration (FDA), XLH affected an approximate of 3,000 children and 12,000 adults in the US. Additionally, the increasing government funding for the healthcare sector, the increasing incidence rate of rare diseases, and research funding is expected to drive the growth of the market in this region.
Major Players
The proposed spectators in the global X-linked hypophosphatemia (XLH) market are coke manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the global X-linked hypophosphatemia (XLH) market are concentrating on firming their global ways by entering into untouched markets.
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The projected onlookers are Government Research Laboratories, Independent Research Laboratories, Government and Independent Regulatory Authorities, Drug Suppliers, Research and Development (R&D) Companies, Market Research and Consulting Service Providers, Medical Research Laboratories and Academic Medical Institutes and Universities. Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Ultragenyx Pharmaceutical, Validus Pharmaceuticals LLC, Merck KGaA, Zeria Pharmaceutical Co., Ltd, Narang Medical Limited, Prospec-Tany Technogene Ltd, Smith & Nephew, and Others are some of the major players in the global X-linked hypophosphatemia (XLH) market. The players active in global X-linked hypophosphatemia (XLH) market are focusing on product launches, together with expanding their global footprints by going into the untapped markets.
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