 |
| Global Charcot-Marie-Tooth Disease Market Size |
Charcot-Marie-Tooth disease (CMT) refers to a broad class of inherited
neuropathy that causes damage to peripheral nerves. It affects muscle function
and sensation in legs and arms. The most common symptoms include slowly
worsening muscle weakness in the feet and lower legs, leading to high-arched
feet and leg deformities. There is no known cure for CMT but treatments aim to
manage symptoms and support nerve regeneration. Advances in genetics and
biotechnology have provided new understanding of underlying causes and
facilitation of drug discovery programs.
The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$
350 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023-2031, as highlighted in
a new report published by Coherent Market Insights.
Market Dynamics
Increasing research and development activities is the primary driver fueling
the growth of the Charcot-Marie-Tooth Disease therapeutics market. Several
pharmaceutical companies are conducting clinical trials to evaluate potential
disease-modifying therapies for CMT. For instance, in January 2022, Biophytis
S.A. announced positive interim results from Part 1 of Sarconeos (BIO101) clinical
trial for treating CMT1A. A treatment addressing the underlying cause could
potentially slow disease progression or improve overall quality of life for
affected individuals. Additionally, rising prevalence of CMT driven by improved
diagnostic capabilities is also estimated to support market growth over the
forecast period.
SWOT
Analysis
Strength: Charcot-Marie-Tooth disease is a progressive disease characterized by
symptoms and signs of peripheral neuropathy. Over the last decade, diagnostics
for CMT have improved significantly which helps in early diagnosis and
treatment planning in three sentences. Growing research activities in CMT is
expected to provide novel treatment options and diagnostics tests for CMT in
three sentences. Increasing awareness and patient support groups are helping
patients to manage the disease condition in an effective way in three
sentences.
Weakness: High cost associated with advanced diagnostic kits and drugs for CMT
disease treatment may restrict market growth in developing countries in three
sentences. Lack of effective treatment and cure available for most CMT types is
still a major challenge in three sentences.
Opportunity: Growing healthcare expenditures in emerging countries provide new
opportunities for market players to expand their business in three sentences.
Potential of gene therapy and novel drug molecules can provide new
opportunities for treatment of CMT disease in three sentences.
Threats: Expiry of patents for major drugs can increase market competition and
negatively impact market players in two sentences. Stringent government
regulations for approval of new drugs and devices may hamper timely
introduction of novel products in two sentences.
Key
Takeaways
Global Charcot-Marie-Tooth Disease Market Size
is expected to witness high growth over the forecast period of 2020-2025.
Regional
analysis: Europe is the second largest market and will continue to contribute
over 30% share in the global market owing to rising research funding and drug
development by key players. Factors such as rising healthcare expenditure,
rapid economic growth, and heavy funding on research projects are anticipated
to drive Asian markets like China, India, and Japan at a CAGR of over 4% during
the forecast period.
Key players: Key players operating in the Charcot-Marie-Tooth Disease market
are GlaxoSmithKline Plc., AstraZeneca Plc., Merck & Co Inc., Pfizer Inc.,
Sanofi, Johnson & Johnson. Key players are focused on collaborative
research projects for developing novel drug molecules and diagnostic tools for
improved treatment of CMT disease.
Explore More Related Article On This
Topic: https://www.pressreleasebulletin.com/charcot-marie-tooth-disease-market-demand/
Explore More Related Article On: https://medium.com/@gauri.cmi01/the-global-training-market-growth-accelerated-by-leveraging-ai-and-analytics-technologies-6028c29126b3