According to our new research study on “Homocystinuria Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Method and End User,” the market is expected to reach US$ 73.96 million by 2028 from US$ 56.58 million in 2021; it is estimated to grow at a CAGR of 3.9% during 2021–2028. The report highlights trends prevailing in the market and factors driving its growth. The growth of the market is attributed to the rising deficiencies patterns of vitamin B6 and Vitamin B12 and the growing prevalence of inherited metabolic disorders. However, the lack of awareness about various rare disorders and inherited metabolic disorders hampers the market growth.
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Based on method, the homocystinuria market is bifurcated into treatment and diagnostics. The treatment segment held a larger share of the market in 2021. The same segment is anticipated to register a higher CAGR in the market during the forecast period due to the incumbent usage of treatment and increase in the research and development of new homocystinuria treatments.
BASF SE, HUAZHONG PHARMACEUTICAL, Pfizer Inc., MYLAN N.V, Aeglea BioTherapeutics, Amino GMBH, KAO Corporation, DSM Corporation, Orphan Technologies, and Fresenius Kabi AG are among the leading companies operating in the homocystinuria market.
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The homocystinuria market, by method, is bifurcated into treatment and diagnostics. The market for the treatment segment is further segmented into pyridoxine, betaine, and others. The market for the diagnostics segment is subsegmented into genetic testing, amino acid screening test, liver enzyme test, and others. Based on end user, the homocystinuria market is segmented into hospitals and clinics, diagnostic and imaging laboratories, specialty clinics, and academic and research institutes. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East and Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East and Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).
Impact of COVID-19 Pandemic on Homocystinuria Market
The COVID-19 pandemic is adversely affecting industries worldwide. The outbreak led to significant disruptions in primary industries, such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction in 2020. In the initial days of COVID-19, many sectors had a negative impact on the total sales of most companies. In addition, the diagnostics device industry is facing negative impact of this pandemic. As the COVID-19 pandemic continues to unfold, diagnostics device companies are finding difficulties in managing their operations. However, with the introduction of COVID –19 vaccination, there is ease in the restrictions due to which business operations of many companies offering products for homocystinuria are started growing as it was before pandemic.
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