by Market Overview:
Charcot-Marie-Tooth disease, also known as hereditary motor and sensory neuropathy, is a group of inherited neurological disorders that affects the peripheral nervous system. It causes weakness and loss of sensation in the feet and hands. Some key symptoms include foot deformities, difficulty walking, muscle wasting, and loss of reflexes. Current treatment options focus on the management of symptoms through medication, physical therapy and surgery.
Market Dynamics:
The Charcot-Marie-Tooth disease market is primarily driven by rising prevalence of CMT disease across the globe and growing diagnosis rates. According to the National Institute of Neurological Disorders and Stroke, around 150,000 Americans are currently affected by CMT disease. Additionally, growing research into the development of novel disease-modifying therapies is also providing momentum to market growth. For instance, companies like Addex Therapeutics and Affectis Pharmaceuticals are conducting clinical trials for mGluR5 inhibitors that could help slow progression of nerve damage in CMT patients. If approved, these new treatment options will drive significant demand over the forecast period.
Market Trend:
The Charcot-Marie-Tooth Disease market has witnessed increased focus on the development of novel disease-modifying therapeutics in recent years. Drug makers are focusing on developing drugs that can slow or halt the progression of the condition by targeting specific genetic mutations or molecular pathways involved in the disease pathology. Another key trend is the prioritization of orphan drug designations for CMT medicines by regulatory agencies, which provides incentives for companies to develop therapies for rare diseases.
The global Charcot-Marie-Tooth Disease Market Demand is estimated to be valued at US$ 793.9 Mn in 2023 and is expected to exhibit a CAGR of 23.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strengths: The high unmet need for effective treatment options presents a large commercial opportunity. Orphan drug designation provides development incentives.
Weaknesses: Rare disease patient pool is small, limiting market size. The development of disease-modifying therapies poses significant clinical challenges.
Opportunities: Advancements in genetic research can enable targeted therapies. Partnerships with patient advocacy groups can aid recruitments in clinical trials.
Threats: Significant competition from emerging therapies. Stringent regulatory requirements for approval of new CMT drugs. Upcoming patent expiries of major drugs.
Key Takeaways
The global Charcot-Marie-Tooth Disease market is expected to witness high growth, exhibiting a CAGR of 23.4% over the forecast period of 2023 to 2030 due to increasing research into developing innovative treatment options.
Regional analysis: North America dominated the global CMT market in 2021 and is expected to maintain its leading position over the forecast period. This is attributed to growing R&D investments by key players, favorable regulatory environment, and rising public-private funding towards rare disease research in the US. Asia Pacific is anticipated to be the fastest-growing regional market between 2021 and 2028 owing to the large patient population and improving healthcare infrastructure in countries like China, India and Japan.
Key players: Key players operating in the Charcot-Marie-Tooth Disease market are Addex Therapeutics Ltd., Affectis Pharmaceuticals AG, Genzyme Corp, Lead Discovery Center GmbH, Pharnext SA, Acceleron Pharma, MedDay Pharmaceuticals, Bristol-Myers-Squibb Company, Inflectis Bio Science Health Company, Helixmith Co., Ltd., and Neurogene Inc. Major players are focusing on developing small molecule therapeutics, gene therapies and molecular targeted therapies to treat underlying genetic defects causing CMT.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
