According to projections, the global Congenital Hyperinsulinism Treatment Market is set to reach US$ 100 million by 2023 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 6% from 2023 to 2033, accumulating a market value of US$ 179.08 million. Between 2017 and 2022, the market recorded a CAGR of 4%.
The increasing incidence of Congenital Hyperinsulinism disease, affecting around 1 in 50,000 newborns, is driving the market growth. The World Health Organization (WHO) and other organizations are creating awareness about Congenital Hyperinsulinism Treatment, further contributing to market growth.
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During the forecast period, North America is expected to hold a market share of approximately 25% due to the rising prevalence of the disease in the region, technological advancements in healthcare, and efficient treatments being introduced.
Startups like Xinvento, a biotech company established in 2021 by CEO Claudine van der Sande, who has a son diagnosed with Congenital Hyperinsulinism (CHI), are playing a significant role in the market. Recently, Xinvento completed a seed funding round, which will enable the company to design and test its proprietary molecules in relevant pre-clinical models to identify potential drug candidates.
Key Takeaways from the Market Study:
- From 2017 to 2022, the Congenital Hyperinsulinism Treatment market grew at a CAGR of 4%.
- The global Congenital Hyperinsulinism Treatment market is expected to grow with a 6% CAGR during 2023 to 2033.
- As of 2033, the Congenital Hyperinsulinism Treatment Market is expected to reach US$ 179.08 Million
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 25% market share for the Congenital Hyperinsulinism Treatment market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
“Various factors such as awareness in wellness and health, the diagnostics, and pathology segment are improving in the developing countries nowadays which grows the therapeutics market. The research and development activities in the field like emerging novel therapeutics, increasing the efficacy of medicine as well as treatment.” says an FMI analyst
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Market Competition:
Key players in the Congenital Hyperinsulinism Treatment market are Eli Lilly, Novo Nordisk, Novartis AG, Rezolute, Inc., Eiger BioPharmaceuticals., Zealand Pharma A/S, Hanmi Pharmaceutical Co., Ltd., Crinetics Pharmaceuticals, Inc., AmideBio LLC, and Xeris Pharmaceuticals, Inc.
- In September 2022, Novo Nordisk and Microsoft entered a new strategic collaboration to combine Microsoft’s computational services, cloud and artificial intelligence (AI) with Novo Nordisk’s drug discovery, development and data science capabilities. Through the partnership, Microsoft is providing AI technology, foundational science models and expertise and is working alongside Novo Nordisk’s data scientists and domain experts from early research and development areas to accelerate Novo Nordisk’s R&D.
More Insights Available:
Europe is also expected to witness significant growth in the Congenital Hyperinsulinism market. The region has a well-established healthcare system and a large patient pool, which is expected to drive market growth. Furthermore, increasing investments by pharmaceutical companies in the region, along with the growing number of research and development activities, are expected to fuel market growth.
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Key Segments Profiled in the Congenital Hyperinsulinism Industry Survey:
Treatment Method:
- Drug Therapy
- Diazoxide
- Octreotide
- Glucagon
- Others
- Surgery
Application:
- Hospitals
- Clinics
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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