The global Achondroplasia Treatment Market Growth Accelerated by Innovation in Therapies
Achondroplasia is the most common form of dwarfism. It is caused by a mutation in the fibroblast growth factor receptor 3 gene (FGFR3) affecting bone growth and resulting in shorter stature and abnormal bone structure. Achondroplasia treatments help address related health issues and improve quality of life. Emerging therapies are targeted at correcting the underlying genetic defect responsible for achondroplasia. They aim to inhibit the mutated FGFR3 receptor using small molecule inhibitors or gene therapies.
The global Achondroplasia Treatment Market is estimated to be valued at US$ 127.8 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend driving growth in the market is the robust pipeline of innovative therapies for achondroplasia. Currently, multiple companies are developing small molecule inhibitors and gene therapies targeting FGFR3. These next generation treatments hold potential to slow, stop or even reverse abnormal bone growth associated with achondroplasia by correcting the underlying genetic defect. For instance, BioMarin Pharmaceutical Inc is evaluating BMN 307, an oral FGF receptor inhibitor that aims to inhibit excessive activity of the FGFR3 receptor. Additionally, PhaseBio Pharmaceuticals Inc is developing PB6440, an engineered alfalimogene alparvovec that aims to deliver a correct copy of the FGFR3 gene to cells. If successful, these therapies may transform the treatment landscape for achondroplasia in the coming years.
Segment Analysis
The global Achondroplasia Treatment market is dominated by the growth hormone therapy segment. Growth hormone therapy aims to increase height by stimulating bone and cartilage growth. As Achondroplasia results in short stature and other bone abnormalities, growth hormone therapy is administered to help improve these symptoms. The therapy has shown promise in increasing height in achondroplasia patients and hence continues to be the preferred treatment approach.
Key Takeaways
The Global Achondroplasia Treatment Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 127.8 Mn by 2024, growing at a CAGR of 12%.
Regional analysis
North America is currently the dominant region in the Achondroplasia Treatment market. This is attributed to growing awareness about the condition and availability of advanced treatment options in the region. Moreover, presence of leading pharmaceutical companies conducting research and clinical trials is also boosting market growth. However, Asia Pacific is expected to witness fastest growth owing to rising healthcare expenditure and increasing patient pool.
Key players
Key players operating in the Achondroplasia Treatment market are Salesforce.com, Inc., Microsoft Corporation, ADOBE INC., SAP SE, Oracle Corporation, SugarCRM Inc., Zoho Corporation Pvt. Ltd, Copper CRM, Inc., Insightly Inc. These companies are focusing on new drug development and gaining regulatory approvals to strengthen their market position.
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