Gene Therapy Segment Is Fastest Growing Segment Fueling The Growth Of Achondroplasia Treatment Market


https://www.coherentmarketinsights.com/market-insight/achondroplasia-treatment-market-4161


Market Overview:

Achondroplasia is a rare genetic form of dwarfism caused by a mutation in the fibroblast growth factor receptor 3 (FGFR3) gene. Current treatment options are limited to managing physical complications and maximizing quality of life. Emerging gene therapies aim to directly address the underlying FGFR3 gene mutation in order to stimulate bone growth and prevent spinal complications.

Market key trends:
One of the key trends in the Achondroplasia treatment market is the increased focus on developing gene therapies. BioMarin Pharmaceutical Inc., Ascendis Pharma, and other companies are developing gene therapies that can address the underlying genetic cause of achondroplasia by delivering a normal copy of the FGFR3 gene to stimulate bone growth. If approved, these therapies may potentially revolutionize the treatment landscape by providing a curative option for patients. Currently, several gene therapy candidates are in clinical trials and have shown potential to increase growth and prevent skeletal complications of achondroplasia. Further development of these therapies is anticipated to drive significant growth of the achondroplasia treatment market in the forecast period.

The global Achondroplasia Treatment Market Demand is estimated to be valued at US$ 127.8 Mn in 2023 and is expected to exhibit a CAGR of 36. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The global achondroplasia treatment market is segmented into drug type, distribution channel and end user. Based on drug type, the market is classified into vosoritide, recombinant human growth hormone, and others. Among these, the vosoritide segment dominates the market due to its effectiveness in improving bone growth and height potential in children with achondroplasia.

Key Takeaways
The global achondroplasia treatment market is expected to witness high growth, exhibiting CAGR of 36.% over the forecast period, due to increasing awareness about treatment for achondroplasia and rise in research & development activities.

Regional analysis
North America accounts for the largest share in the global achondroplasia treatment market due to high healthcare expenditure and availability of resources for clinical trials. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to large patient pool and increase in healthcare spending in this region.

Key players analysis
Key players operating in the achondroplasia treatment market are 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. Read More: https://www.dailyprbulletin.com/gene-therapies-set-to-boost-the-growth-of-achondroplasia-treatment-market-size-and-share-analysis/

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