A recent study published by FMI anticipates that the global market for therapeutics to treat Laband syndrome will grow at a compound annual growth rate (CAGR) of 5.2% between 2023 and 2033. The study projects that the market will reach a valuation of US$ 5 billion by the end of the assessment period.
There is an increasing awareness of rare diseases and heredity-related issues in the general population, which is expected to drive demand for Laband syndrome therapeutics and create a potential opportunity for the market. However, the therapy options for Laband syndrome are currently limited.
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The Laband syndrome therapeutics market is currently experiencing an uneven demand and supply environment due to the increased adoption of currently available medicines. However, increased investment in the healthcare industry and improved reimbursement facilities in developed nations such as the United States and Germany are expected to provide a boost to the market.
Key Takeaways from the Market Study
- According to FMI, the global Laband syndrome treatments market will grow at a 5.2% value CAGR by 2033.
- The global Laband syndrome therapeutics market is expected to be worth $3 billion.
- The global Laband syndrome therapeutics market is anticipated to be worth $5 billion.
- North America is predicted to increase at a CAGR of 5.1% between 2023 and 2033.
- Europe is predicted to increase at a CAGR of 5% between 2023 and 2033.
- Asia Pacific is predicted to develop at a CAGR of 4.8% between 2023 and 2033.
- Over the projection period, the oral segment is expected to maintain the biggest market share for lab and syndrome therapies.
“The worldwide Laband syndrome therapeutics market is expanding rapidly as people become more conscious of the need for rare illness treatment and pay close attention to the presence of a family genetic history. Because of their well-established healthcare infrastructure and excellent healthcare standards, industrialised countries have a strong need for Laband syndrome therapeutics,” says an analyst at FMI
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Market Competition
Key players in the laband syndrome therapeutics market are Xinhua Pharmaceutical, BASF, SI Group, Strides Pharma Science, Selleckchem, Merck & Co. Inc., Vasudha Pharma Chem Limited, Sanofi, Takeda and Pfizer. Some prominent developments are as follows:
- BASF Pharma Solutions announced in December 2022 that the FDA’s Center for Drug Evaluation and Research (CDER), Office of New Medicines accepted its excipient, Soluplus®, into the FDA’s Pilot Program for the Review of Innovation and Modernization of Excipients (PRIME). The program’s goal is to reduce the risk and burden on pharmaceutical companies that want to use novel excipients for modern drug development challenges, as well as to provide a path for excipient manufacturers like BASF to obtain FDA approval for their novel excipients before using them in an FDA-approved drug.
- Stelis Biopharma Ltd, a developing biopharmaceutical Contract Development and Manufacturing Organization (CDMO) and Strides Pharma Science Limited’s biologics business, reported in December 2022 that its CDMO partner had acquired FDA approval for a crucial ANDA (USFDA). The product was submitted from Stelis Biopharma’s headquarters in Bangalore.
- Merck, a worldwide pharmaceutical giant, signed a non-binding Memorandum of Understanding (MoU) with Synplogen, a company spun out of Kobe University’s Graduate School of Science, Technology, and Innovation, in December 2022. Both companies intend to pool their resources to accelerate the research, production, and testing of viral vector gene therapy in Japan.
More Valuable Insights Available
Hypertrichosis-osteochondrodysplasia syndrome (also known as Laband syndrome) is a rare genetic disorder characterized by abnormal hair growth, malformations of the fingers and toes, and skeletal abnormalities. There is currently no known cure for the condition, and treatment options are limited to managing the symptoms of the disorder. As a result, the Hypertrichosis-osteochondrodysplasia syndrome therapeutics market is relatively small and focused on providing supportive care to affected individuals.
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Key Segments Profiled in the Laband Syndrome Therapeutics Industry Survey
By Drug Class:
- NSAIDS
- Bisphosphonate
- Skeletal Muscle Relaxants
By Route of Administration:
- Oral
- Rectal
- Parental
- Topical
- Infusion
By Distribution Channel:
- Hospital Pharmacies
- Clinical Pharmacies
- Drug Stores
- Online Pharmacies
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
About FMI:
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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