The Global Charcot-Marie-Tooth Disease Market Growth Accelerated By Emerging Drugs
Charcot-Marie-Tooth disease is a group of inherited neurological disorders that causes damage to the peripheral nerves, resulting in weakness and atrophy in the legs and arms. It is most common genetic neuromuscular disorder. Drug therapies aim to manage symptoms such as pain, muscle spasms, and muscle cramps. Emerging drug therapies targeting the root cause are offering new hope.
The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1392.68 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The emergence of drugs targeting the underlying genetic causes of Charcot-Marie-Tooth disease is one of the major trends driving the market growth. Some of the promising drug candidates currently in clinical trials aim to address genetic mutations that lead to the disease. For example, ION363 targets a specific mutation and has shown promising results in preclinical studies. Its developer BioElectron Technology Corporation plans to initiate phase 1/2 clinical trials. Such emerging drugs offering disease-modifying effects present a major opportunity in the treatment of this currently incurable disease.
Segment Analysis
The global Charcot-Marie-Tooth Disease market is dominated by the hereditary neuropathies segment. This segment accounts for the majority share owing to the fact that Charcot-Marie-Tooth disease is primarily genetic neurological disorder and a majority of the cases occur due to hereditary factors. Over 80% of Charcot-Marie-Tooth cases are genetic in nature, thus making hereditary neuropathies the most prevalent sub-segment.
Key Takeaways
The global Charcot-Marie-Tooth Disease Market Growth is expected to witness high growth over the forecast period of 2024 to 2031. The market is projected to grow at a CAGR of 3.6% during this period. By 2031, the market size is estimated to reach US$ 1.734 Million.
Regional analysis
North America is currently the dominant region in the global Charcot-Marie-Tooth Disease market and is expected to maintain its dominance over the forecast period. The high prevalence of Charcot-Marie-Tooth disease in the US, availability of advanced healthcare facilities and presence of key players in the region are some of the major factors contributing to the large share of North America. However, Asia Pacific is likely to witness the highest growth rate owing to the rising healthcare expenditures and increasing awareness about rare diseases in the region.
Key players
Key players operating in the Charcot-Marie-Tooth Disease market are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, and Mindray Medical International Limited, among others. Baxter offers Dextrose solutions for Charcot Marie Tooth disease patients. AbbVie provides Venclexta for neurological conditions like Charcot-Marie-Tooth disease.
For more insights, read- https://www.insightprobing.com/charcot-marie-tooth-disease-market-trends-size-and-share-analysis/
For more insights, read- https://dailynewsmotion.weebly.com/report-blog/innovations-in-healthcare-navigating-the-cell-and-gene-therapy-market
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