The Charcot-Marie-Tooth disease market comprises neuropathy treatment medications that help manage the inherited neurological disorder affecting the peripheral nervous system. Characterized by muscle weakness and atrophy, principally in the legs and forearms, the condition disrupts the functioning of the Schwann cells responsible for forming the myelin sheath protecting the peripheral nerves. With no cure available currently, ongoing research focuses on developing drugs targeting the underlying genetic defects and nerve degeneration.
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 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing research efforts for developing advanced treatment options is one of the key trends fueling the growth of the Global Charcot-Marie-Tooth Disease Market Size. Several pharmaceutical companies and research institutes worldwide have ongoing clinical trials assessing the efficacy of various drug candidates in managing CMT symptoms. For instance, Addex Therapeutics Ltd is investigating the potential of dipraglurant in slowing the progression of CMT1A, the most common subtype caused by a duplication of the PMP22 gene. Other companies like Affectis Pharmaceuticals and Pharnext are also exploring novel targets and therapies that can halt nerve damage and restore function. This rising R&D focus on Charcot-Marie-Tooth disease is anticipated to translate into new product approvals and commercial launches over the forecast period, augmenting the revenues of this market.
SWOT Analysis
Strength: High unmet medical needs as there is no cure currently available for Charcot-Marie-Tooth disease. Increasing R&D investments by key players for developing novel therapeutics.
Weakness: Low disease awareness among general population. Challenges in disease diagnosis due to variability of symptoms.
Opportunity: Expected launch of late stage pipeline drugs during the forecast period will drive the market growth. Growing clinical trials for evaluating new treatment options.
Threats: High treatment costs associated with Charcot-Marie-Tooth disease management reduces patient adherence. Stringent regulatory framework for approval of new therapies.
Key Takeaways
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 23% over the forecast period 2023 to 2030.
North America is currently the dominant region for Charcot-Marie-Tooth disease market and is estimated to retain its dominance during the forecast period. This is attributed to growing pharmaceutical R&D investments, presence of key players, and high diagnosis rate in the US and Canada.
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. Pharnext SA’s PXT3003, a first-in-class oral therapy, is currently in Phase 3 clinical trial for treating Charcot-Marie-Tooth disease Type 1A.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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