by Charcot-Marie-Tooth disease is a group of inherited neurological disorders that causes damage to the peripheral nerves. Products associated with Charcot-Marie-Tooth disease include gene therapies, neurotrophic factors, and physical therapy. Gene therapies seek to replace the faulty or mutated gene responsible for Charcot-Marie-Tooth disease, aiming to correct the underlying genetic cause and slow progression. Neurotrophic factors protect degenerating nerves by enhancing their survival and function. Physical therapy focuses on muscle strengthening, range of motion and mobility exercises to help patients cope with their symptoms.
The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1208.92 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising interest in advancing therapies, specifically gene therapy, is one of the key trends impacting the Charcot-Marie-Tooth disease market. Researchers are actively exploring gene therapy strategies for Charcot-Marie-Tooth Disease types 1A and X, with some candidates now in clinical trials. Gene therapies aim to provide a long-term cure by delivering therapeutic genes to nerves with the goal of halting or reversing nerve degeneration caused by the genetic defects underlying these types of Charcot-Marie-Tooth Disease. Another emerging area is expanding treatments to target specific genetic subtypes of Charcot-Marie-Tooth disease, fueled by growing understanding of genotype-phenotype correlations. Precision medicine approaches may allow therapies to be better matched to individual patients’ genetic profile in the future.
Porter’s Analysis
Threat of new entrants: Low. High capital requirement, long product development cycle and stringent regulatory landscape makes entry difficult for new players.
Bargaining power of buyers: Moderate. Presence of substitute treatments limits buyers power. However, growing awareness and demand empowers buyers.
Bargaining power of suppliers: Moderate. Suppliers of specialized drugs and devices have some control over pricing and supply. However, established buyers can negotiate better.
Threat of new substitutes: Low. While some symptomatic relief options are available, no major substitute for treating the underlying cause exists.
Competitive rivalry: High. Major players competing on the basis of product differentiation, launch of new formulations and adoption of innovative marketing strategies.
Key Takeaways
The Global Charcot-Marie-Tooth Disease Market Size is expected to witness high growth. The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1208.92 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030.
Regional analysis: North America accounts for the largest share of the global Charcot-Marie-Tooth Disease market due to growing elderly population, availability of advanced treatment options and favorable reimbursement policies. The Asia Pacific market is estimated to grow at a high CAGR during the forecast period due to increasing healthcare awareness, healthcare reforms and improving economic conditions.
Key players: Key players operating in the Charcot-Marie-Tooth Disease market are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, Drägerwerk AG & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. Baxter offers Hextend, a 6% hetastarch solution used to treat hypovolemia while AbbVie provides Vimizim, a treatment for Morquio A syndrome.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
