In 2023, the myotonic dystrophy treatment market is projected to be worth US$ 874.39 million. The global demand for myotonic dystrophy treatment is anticipated to increase at a CAGR of 12.3% between 2023 and 2033, reaching a total of around US$ 2,789.35 million by 2033 due to the strategic initiatives taken by industry participants and rigorous regulatory environment.
A 2020 National Center for Biotechnology Information (NCBI) report estimated that globally, 1 in every 8,000 people develops myotonic dystrophy type 1. This increasing patient population demand and effective therapy are expected to create lucrative avenues for the growth of the myotonic dystrophy market in the forthcoming years.
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Factors such as strategic initiatives adopted by market players, the presence of pipeline therapies, and rising healthcare expenditure are other factors augmenting the market growth. In addition, several other factors, such as the emergence of mutation-specific therapies, a growing target population, and favorable government initiatives, are also fueling the market growth in the near future.
The myotonic dystrophy treatment market identifies the increase in R&D of therapeutic vaccines as one of the prime reasons driving the myotonic dystrophy drug market growth in the coming years. Moreover, increased disease diagnostic modalities and growing research on combination therapies will lead to sizable demand in the market during the analysis period.
The myotonic dystrophy market is expected to become intensely competitive in the medium- to long-term. Due to insufficient trials, the sector has witnessed delays and denials of several key products by the U.S. FDA. Raxone (by Santhera) and Givinostat (by Italfarmaco) remain the most strategically significant R&D pipeline assets for the myotonic dystrophy treatment market, with a good possibility of regulatory approval in the coming time.
Furthermore, several novel mechanisms of action, such as NF-κB inhibition, myostatin inhibition, and gene therapy, are under investigation. Other drug classes, such as exon-skipping and mutation-suppression, are expected to gain traction over the forecast period, supported by the rising adoption of these therapeutics, which in turn are expected to push the market growth.
Key Takeaways from the Market Study:
- The 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 research and development 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:
- 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
- Siemens Healthcare
- Lupin
- ANI Pharmaceuticals
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Recent Developments:
- In September 2022, University at Albany scientists were awarded $2.5 million to advance research to find 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.
Know More About What the Myotonic Dystrophy Treatment Market Report 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 based on therapeutics class and distribution channel across five major regions.
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 Stores and Retail Pharmacies
- Online Pharmacies
Myotonic Dystrophy Treatment Market by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Originally Publish By: https://www.chronicles24.com/index.php/2023/09/20/myotonic-dystrophy-treatment-market-to-reach-us-2789-35-million-by-2033-driven-by-increasing-patient-population-and-effective-therapies-fmi-report/
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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