In 2023, the global Myotonic Dystrophy Treatment Market is expected to be worth $874.39 million. The overall demand for Myotonic Dystrophy Treatment is expected to grow at a CAGR of 12.3% between 2023 and 2033, totaling around US$ 2,789.35 Million by 2033, thanks to strategic initiatives taken by market players and a strict regulatory framework.
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According to a 2020 report from the National Center for Biotechnology Information (NCBI), one in every 8,000 people worldwide develops myotonic dystrophy type 1. This rising patient population demand, combined with effective therapy, is expected to open up lucrative opportunities for the myotonic dystrophy market in the coming years.
Other factors boosting market growth include strategic initiatives taken by market players, the presence of pipeline therapies, and rising healthcare expenditure. In addition, the emergence of mutation-specific therapies, a growing target population, and favourable government initiatives are fueling market growth in the near future.
The increase in RandD of therapeutic vaccines is one of the primary reasons driving the Myotonic Dystrophy Drug Market growth in the coming years, according to the Myotonic Dystrophy Treatment market. Furthermore, increased disease diagnostic modalities and increased research on combination therapies will result in significant market demand during the analysis period.
In the medium to long term, the myotonic dystrophy market is expected to become intensely competitive. Due to insufficient trials, the US FDA has delayed or denied several key products in the sector. Raxone (Santhera) and Givinostat (Italfarmaco) continue to be the most strategically important R&D pipeline assets for the Myotonic Dystrophy Treatment market, with a high likelihood of regulatory approval in the near future.
Furthermore, several novel mechanisms of action are being investigated, including NF-B inhibition, myostatin inhibition, and gene therapy. Other drug classes, such as exon-skipping and mutation-suppression, are expected to gain traction during the forecast period, supported by rising adoption of these therapeutics, which will drive market growth.
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Key Takeaways from the Market Study
- Global Myotonic Dystrophy Treatment Market was valued at US$ 778.62 Billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 5.6%
- By Therapeutics Class, the Molecular-based Therapies segment of the market constitutes the bulk of the market with a market share of 44%
- By Distribution Channel, the Hospital Pharmacies segment dominates the market with a share of 43%
- From 2023 to 2033, Cystic Fibrosis sales are expected to flourish at a CAGR of 12.3%.
- By 2033, the market value of Cystic Fibrosis is expected to reach US$ 2,789.35 Billion.
Factors such as rising R&D and new drug approvals are projected to escalate the growth of the Myotonic Dystrophy market during the forecast period, remarks an FMI analyst.
Competitive Landscape
Prominent players in the Myotonic Dystrophy Treatment Market are Pfizer, Inc., Eli Lilly and Company, Mylan Pharmaceuticals Inc., Wockhardt Ltd., Teva Pharmaceutical Industries Ltd., Novartis AG, BioMarin Pharmaceutical, Inc., Asklepios Kliniken GmbH, Hoveround Corporation, and Siemens Healthcare, among others.
Recent Developments:
- In September 2022, University at Albany scientists were awarded $2.5 million to advance research aimed at finding a cure for myotonic dystrophy — the most common form of adult-onset muscular dystrophy, impacting about 1 in 2,100 New Yorkers.
- In July 2022, Dyne Therapeutics, Inc., a clinical-stage muscle disease company focused on advancing innovative life-transforming therapeutics for people living with genetically driven diseases, announced that the New Zealand Medicines and Medical Devices Safety Authority cleared its clinical trial application to initiate its Phase 1/2 multiple ascending dose (MAD) clinical trial of DYNE-101 in patients with myotonic dystrophy type 1 (DM1). The Company also anticipates receiving regulatory clearance in additional countries for DYNE-101. Dyne expects to begin dosing patients in its clinical trial of DYNE-101 in mid-2022.
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Key Segments Covered in the Myotonic Dystrophy Treatment Industry Analysis
Myotonic Dystrophy Treatment Market by Therapeutics Class:
- Molecular-based Therapies
- Steroid Therapy
Myotonic Dystrophy Treatment Market by Distribution Channel:
- Hospital Pharmacies
- Drug Store and Retail Pharmacies
- Online Pharmacies
Know More About What the Myotonic Dystrophy Treatment Market Repost Covers
Future Market Insights offers an unbiased analysis of the global Myotonic Dystrophy Treatment Market, providing historical data for 2018-2022 and forecast statistics from 2023-2033. To understand opportunities in the Myotonic Dystrophy Treatment Market, the market is segmented on the basis of therapeutics class, and distribution channel, across five major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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