Achondroplasia Treatment Market Key Trend Outline

 

Achondroplasia Treatment Market

The global Achondroplasia Treatment Market is estimated to be valued at US$ 127.8 million in 2022 and is expected to exhibit a CAGR of 36.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Achondroplasia is the most common form of disproportionate short stature or dwarfism. It is caused by a mutation or change in the fibroblast growth factor receptor 3 (FGFR3) gene which inhibits bone growth, resulting in shorter arms and legs, and an enlarged head. Currently, there is no cure for achondroplasia and treatment focuses on managing complications and improving quality of life. However, pharmaceutical companies are developing drugs that target the underlying genetic cause of achondroplasia to potentially stop or reverse symptoms. Some drugs in the pipeline hone growth signals to stimulate healthy bone growth. If effective, these treatments could provide hope for increasing height achievement in children and adults with achondroplasia.

Market key trends:

One of the key trends in the achondroplasia treatment market is the development of injectable recombinant human fibroblast growth factor receptor 3 (FGFR3) inhibitors. FGFR3 inhibition has emerged as a potential therapeutic strategy to reduce disproportionate short stature in achondroplasia. Promising candidates such as rivoceranib and BioMarin’s vosoritide are being evaluated in clinical trials to determine their safety and ability to stimulate bone growth. Positive Phase 2 data for vosoritide reported increased height velocity and prompted further late-stage development. Advancements in genetic engineering and molecular biology have also facilitated the design of therapies targeting underlying disease mechanisms at the genetic level. If approved, first-generation approved therapies could lead to improved quality of life and stronger long-term outcomes for people with achondroplasia.

Porter’s Analysis

Threat of new entrants: The Achondroplasia Treatment market faces low threat of new entrants due to high capital requirement for R&D and presence of major players.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of limited treatment options in the market.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to presence of substitutes.

Threat of new substitutes: Threat of new substitutes is low due to patent protection and regulatory requirements.

Competitive rivalry: High due to presence of major players.

Key Takeaways

The Global Achondroplasia Treatment Market is expected to witness high growth, exhibiting CAGR of 36.5% over the forecast period 2023-2030, due to increasing R&D investments and rising prevalence of Achondroplasia.

The US dominates the global Achondroplasia Treatment market owing to increasing healthcare expenditure and availability of advanced treatment options. Europe is also expected to grow at a significant rate during the forecast period.

Key players operating in the Achondroplasia Treatment market include 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, Ferring B.V., JCR Pharmaceuticals Co., Ltd, KVK TECH, INC., VIVUS LLC., ProLynx Inc., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Ipsen Pharma, Novartis AG, and Xiamen Amoytop Biotech Co., Ltd. BioMarin leads the market with its drugs in pipeline and approved treatment Options.

Read More:

https://www.marketwebjournal.com/achondroplasia-treatment-market-forecast-analysis-and-trends/