The Menkes disease market consists of gene therapy as a promising treatment option for Menkes disease. Menkes disease is an X-linked recessive genetic disorder caused due to a mutation in the copper-transporting adenosine triphosphatase gene. It results in impaired absorption of copper in the body leading to connective tissue abnormalities, growth failure, and neurological problems. Gene therapy aims at providing a normal copper transporter gene to cells through a viral or non-viral vector to restore copper transport function in patients.
The Menkes Disease Market is estimated to be valued at US$ 165.1 Mn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Menkes disease market are Fortress Biotech, Inc., Teva Pharmaceutical Industries Ltd., Amerigen Pharmaceuticals Limited, Mylan N.V., Bausch Health Companies Inc. Gene therapy offers an early intervention to minimize symptoms and improve outcomes in Menkes disease patients. Advancements in viral and non-viral gene therapy vectors provide opportunities for development of effective gene therapy for Menkes disease. Growing research in preclinical animal models to optimize dose, delivery method and safety of gene therapy is expected to translate into clinical benefits.
Market Drivers
High prevalence of genetic disorders like Menkes disease is a major growth driver for this market. According to the National Organization for Rare Disorders (NORD), Menkes disease affects approximately 1 in 200,000 to 300,000 newborn males worldwide. Unmet needs since currently there are no approved therapies for Menkes disease also boosts the market growth. Growing investment in research for development of advanced treatment approaches like gene therapy further augments the market expansion over the forecast period.
Current Challenges In The Menkes Disease Market
There are several challenges being faced by the Menkes Disease market currently. One of the major challenges is the low diagnosis rate of Menkes disease. As the symptoms of this rare genetic disorder are nonspecific in early stages, it becomes difficult for healthcare providers to accurately diagnose the condition. This leads to delays in starting the treatment. Another challenge is the high cost of the limited treatment options available for Menkes disease. The only approved drug for this condition, ATP7A gene therapy has a very high cost which makes it unaffordable for many patients. The development of new and more effective treatment options is also hindered by the low commercial incentive due to the small patient population affected by this rare disease.
SWOT Analysis
Strength: The growing research & development activities for developing new treatment therapies.
Weakness: Low diagnosis rates and lack of disease awareness.
Opportunity: Potential of gene therapy and stem cell therapy in effectively treating the condition.
Threats: Intense competition among existing players and high R&D costs involved in developing innovative therapies.
Geographical Regions
North America accounts for the major share of the Menkes Disease Market currently, both in terms of value and volume. This is attributed to factors such as the increasing research funding, presence of key market players, and rising awareness about rare diseases. Europe is expected to witness the fastest growth during the forecast period owing to the expanding biotech industry and growing healthcare expenditure in countries like Germany, U.K, and France. Asia Pacific is likely to emerge as a highly lucrative market in the upcoming years owing to improvement in healthcare infrastructure, rising healthcare spending, and increasing investment by international players.
Fastest Growing Region
Asia Pacific region is poised to offer the most attractive opportunities for players operating in the Menkes disease market during the forecast period. This is majorly ascribed to the increasing per capita healthcare expenditure, growing patient awareness about rare diseases, rising geriatric population, and improving healthcare facilities in various Asian countries like India, China, and South Korea. Favorable initiatives by governments and international organizations are also fueling the research activities and clinical trials across APAC, which will boost the regional market growth.
What Are The Key Data Covered In This Menkes Disease Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Menkes Disease Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Menkes Disease Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Menkes Disease Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Menkes Disease Market vendors
FAQ’s
Q.1 What are the main factors influencing the Menkes Disease Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Menkes Disease Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Menkes Disease Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn