Charcot-Marie-Tooth Disease Market Is Estimated To Witness High Growth Owing To Rising Prevalence And Increasing R&D Activities
Market Overview:
Charcot-Marie-Tooth disease (CMT) refers to a group of inherited neurological disorders that cause damage to the peripheral nerves. The disease is characterized by muscle weakness and atrophy, predominantly in the legs and feet. There are currently no cure for CMT, however supportive treatments aim to manage symptoms and improve quality of life.
Market Dynamics:
The Charcot-Marie-Tooth Disease Market is driven by the rising prevalence of CMT worldwide. CMT affects approximately 1 in 2500 people globally. In addition, increasing research and development activities by companies in the market is also expected to fuel market growth over the forecast period. For instance, Addex Therapeutics Ltd. is evaluating dipraglurant in a phase II/III clinical trial for the treatment of certain CMT subtypes. Furthermore, genetics studies have identified over 90 genes associated with CMT, providing opportunities for drug development targeting specific genetic mutations.
The global Charcot-Marie-Tooth Disease Market Demand is estimated to be valued at US$ 793.9 Mn in 2023 and is expected to exhibit a CAGR of 23.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: The Charcot-Marie-Tooth Disease market has a large patient population which allows for significant market potential. Several targeted therapeutics are currently in development which could improve patient outcomes. Established diagnostic methods help identify patients.
Weakness: The disease has heterogeneous subtypes which makes therapeutic development more complex. There remains a lack of approved disease modifying therapies. Diagnosis can be difficult due to overlapping symptoms with other neuropathies.
Opportunity: An increasing research focus on rare disease therapeutics is driving drug development. There is potential for personalized medicine approaches through stratification of subtypes. Emerging biomarkers may aid earlier diagnosis and tracking of disease progression.
Threats: High development costs and risks associated with rare disease drug development limit the number of companies involved. Failure or delays of drugs in late stage trials could significantly impact the market. Regulatory pathways for approval remain uncertain.
Key Takeaways
The global Charcot-Marie-Tooth Disease market is expected to witness high growth, exhibiting a CAGR of 23.4% over the forecast period, due to increasing research and development efforts of pharmaceutical companies. The current market size is valued at US$ 793.9 Mn in 2021.
Regional analysis: North America is currently the largest Charcot-Marie-Tooth Disease market due to concentration of key market players and research centers. Growth will be highest in Asia Pacific due to rising healthcare investments and improving access to diagnosis.
Key players: Key players operating in the Charcot-Marie-Tooth Disease market are Addex Therapeutics Ltd., Affectis Pharmaceuticals AG, Genzyme Corp, Lead Discovery Center GmbH, Pharnext SA, Acceleron Pharma, MedDay Pharmaceuticals, Bristol-Myers-Squibb Company, Inflectis Bio Science Health Company, Helixmith Co., Ltd., and Neurogene Inc. All major players are conducting clinical trials focused on subtype-specific therapies.
Read More: https://blogger-veritas.blogspot.com/2023/11/future-of-charcot-marie-tooth-disease.html
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