Covina, Feb. 01, 2024 (GLOBE NEWSWIRE) -- “According to the recent research study, the Achondroplasia Treatment Market size was valued at about USD 120.4 million in 2024 and expected to grow at CAGR of 38.8% to extend a value of USD 3208.6 million by 2034.”
What is Achondroplasia Treatment?
- Market Overview:
Achondroplasia Treatment is the common form of short-limbed dwarfism and also called as “without cartilage formation’. They are caused by mutation in fibroblast growth factor receptor 3 (FGFR3) gene. The treatment targets underlying molecular pathogenesis with increasing growth velocity & height Z-score with no serious side-effects. Achondroplasia is a genetic disorder that affects bone growth, resulting in dwarfism. While there is no cure for achondroplasia, various treatments and interventions can help manage its symptoms and improve the quality of life for individuals with the condition. It's important to note that the primary focus is on addressing specific medical issues and providing support rather than altering the genetic cause of the condition.
- Market Dynamics:
Driving Factors:
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- Increasing funding’s by the government for the treatment has driven market growth.
- Advances in genetic research and understanding of the specific mutations associated with achondroplasia are critical drivers. Continued research can lead to a deeper understanding of the condition and potential targeted therapies.
- The initiation of clinical trials and the development of pharmaceutical interventions targeted at addressing the symptoms or underlying mechanisms of achondroplasia are crucial. Progress in drug development can significantly impact the management of the condition.
- Technological advancements in medical imaging, surgical techniques, and rehabilitation therapies can contribute to better management of orthopedic and other complications associated with achondroplasia.
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Restrain Factors:
- The poor efficiency and efficacy of drugs restrain market growth.
- Unknown long-term effects of treatment.
- Genetic complexity.
- Regulatory hurdles & ethical concerns.
- Limited funding for research.
- Lack of awareness
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*Note: PMI Sample Report includes,
- Overview & introduction of market study
- Revenue and CAGR of market
- Drivers & Restrains factors of market
- Major key players in market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent development/news of market
- Opportunities & Challenges of Market
Report Scope:
| Attribute | Details |
| Base year for estimation | 2023 |
| Forecast period | 2024 – 2034 |
| Market representation | Revenue in USD Billion & CAGR from 2024 to 2034 |
| Market Segmentation | By Product Type – RBM-007, TA-46, B-701, and Others By End-User - Hospital, Clinic, and Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Top Leading Players in Achondroplasia Treatment Market:
- BioMarin
- RIBOMIC
- Ascendis Pharma A/S
- BridgeBio Pharma, Inc.
- Pfizer Inc.
- PhaseBio Pharmaceuticals, Inc.
- SiSaf
- Novo Nordisk A/S
- F. Hoffmann-La Roche Ltd.
- LG Chem
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Emerging Trends and Opportunities in Achondroplasia Treatment Market:
- Major players are conducting advances in gene-editing technologies, such as CRISPR-Cas9, have the potential to address the underlying genetic mutations causing achondroplasia. Research in genetic therapies may open new possibilities for targeted interventions.
- Ongoing and upcoming clinical trials focused on achondroplasia treatments provide opportunities to test new therapeutic approaches. The results of these trials can shape the future landscape of achondroplasia management.
- Continued research and optimization of growth hormone therapies for individuals with achondroplasia may lead to improved outcomes, especially when started early in childhood.
- Advancements in personalized or precision medicine, tailoring treatments based on an individual's genetic profile, may play a role in optimizing achondroplasia management.
- Conducting long-term follow-up studies on individuals with achondroplasia who have undergone specific treatments or interventions can provide valuable insights into the efficacy and safety of those approaches.
Challenges of Achondroplasia Treatment Market:
- Limited treatment options.
- Educational & employment barriers.
- Long-term follow-up
- Regulatory hurdles
- Psychosocial & emotional challenges
Recent Development:
- In November 2021, the U.S. FDA (Food and Drug Administration) has approved Voxzogo (vosoritide) injection for improving growth in children five years of age and older with open epiphyses and achondroplasia. This approval has unmet medical needs for more than 10,000 children in United States.
Detailed Segmentation:
Achondroplasia Treatment Market, By Product Type:
- RBM-007
- TA-46, B-701
- Others
Achondroplasia Treatment Market, By End-User:
- Hospital
- Clinic
- Others
Achondroplasia Treatment Market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Key highlights of the Achondroplasia Treatment Market:
- Genetic understanding and increased research & development activities.
- Ongoing clinical trials and drug development.
- Increased awareness about achondroplasia among the general public, healthcare professionals, and policymakers can drive support for research funding, improved healthcare.
- Technological advancement in healthcare.
- Ensuring that individuals with achondroplasia have access to specialized healthcare services, including genetic counseling, orthopedic care, and psychological support, is crucial.
- North America is likely to dominate the Achondroplasia Treatment Market because of the high prevalence of achondroplasia, favorable health reimbursement, and increased awareness.
Conclusion:
Achondroplasia Treatment Market is at the forefront of medical advancements, addressing the unique challenges associated with this genetic disorder. With a focus on innovative therapies and targeted interventions, the market strives to improve the quality of life for individuals affected by achondroplasia. As research and development continue to progress, the Achondroplasia Treatment Market remains dedicated to advancing treatment options and providing hope for a brighter and healthier future for those living with this condition.
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