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| Charcot-Marie-Tooth Disease Market |
Charcot-Marie-Tooth disease, commonly known as CMT, is a group of inherited neurological disorders that cause damage to the peripheral nerves. The disease affects the motor and sensory peripheral nerves, which transmit signals between the central nervous system and muscles. Common symptoms include muscle atrophy in the legs and lower part of the body, uneven leg musculature, high arches of the feet, and hammertoes. There is currently no cure for CMT but treatments try to manage individual symptoms and improve quality of life. Research activities for developing gene therapy, medications for slowing progression, nerve stimulators are ongoing.
The global Charcot-Marie-Tooth Disease market is estimated to be valued at US$ 1,392.68 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 Dynamics:
Growing research and development activities on CMT is expected to drive growth
of the market over the forecast period. Pharmaceutical companies are investing
in developing new treatment options for CMT due to high unmet need. For
instance, Avexis, a subsidiary of Novartis is conducting phase 3 trails of gene
therapy candidate AVXS-101 for treatment of CMT type 1A. In addition, various
models of nerve stimulators are being tested for managing CMT symptoms.
Furthermore, accelerating diagnosis rate backed by adoption of advanced
diagnostic technologies such as genetic testing and nerve conduction test will
lead to rising cases of CMT diagnosis, thus propelling the market growth.
However, lack of FDA approved drugs for CMT remains a major challenge for
market growth.
Segment Analysis
The global Charcot-Marie-Tooth Disease market is segmented based on type,
treatment, end user. Charcot-Marie-Tooth disease type 1A dominates the market,
accounting for nearly 30% share. It is the most commonly inherited peripheral
neuropathy and affects 1 in 2500 people. Treatment-wise, drugs to reduce pain,
treating specific symptoms and physiotherapy dominates with over 60% share as
majority of cases require symptomatic treatment currently. Hospitals hold the
largest share in the end user segment due to availability of advanced
healthcare facilities needed for treatment and diagnosis.
PEST Analysis
Political: Governments across regions are increasingly focusing on rare disease
treatment and awareness. In the US, Orphan Drug Act provides incentives for
drug development.
Economic: Rising healthcare expenditure and increasing approval of high priced
drugs are driving market growth. The average annual healthcare cost per CMT
patient is estimated to be over $2000.
Social: Increasing R&D efforts from foundations and advocacy groups are
raising disease awareness levels. Support groups are helping patients cope up
with the condition.
Technological: Advancements in genetic testing help in accurate diagnosis.
Research focusing on gene therapy and biomarkers holds potential to alter the
treatment landscape in future.
Key Takeaways
The global Charcot-Marie-Tooth
Disease Market Growth is
expected to witness high growth at a CAGR of 3.6% during the forecast period of
2024 to 2031. The global Charcot-Marie-Tooth Disease Market is estimated to be
valued at US$ 1392.68 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over
the forecast period 2024 to 2031.
Regional analysis: North America holds the largest market share currently due
to high awareness and healthcare spending. Asia Pacific is expected to witness
fastest growth due to rising incidence of the disease and improving access to
diagnosis and treatment in major countries.
Key players: Key players operating in the Charcot-Marie-Tooth Disease market
are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA,
GE Healthcare, and Mindray Medical International Limited, among others. Baxter
launched XIAFLEX in 2012, the first and only FDA approved drug to treat pes
cavus in CMT1A patients.
For more insights, read- https://www.newswirestats.com/charcot-marie-tooth-disease-market-forecast-outlook-trend-2023-2030/
For more insights, read- https://dailynewsmotion.weebly.com/report-blog/innovations-in-healthcare-navigating-the-cell-and-gene-therapy-market
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