Achondroplasia Treatment Market is Estimated to Witness High Growth Owing to promising product pipeline and rising awareness

 

Achondroplasia Treatment Market

Achondroplasia is the most common type of dwarfism. It results in an abnormal bone growth and disproportionately shorter arms and legs, as well as distinctive facial features such as an enlarged head and protruding forehead. The Achondroplasia Treatment includes recombinant human growth hormone, gene therapy, and bone lengthening surgery, which can help to increase height in people with achondroplasia. The treatment options address the underlying genetic defect and provide improved mobility and quality of life.

The global achondroplasia treatment market is estimated to be valued at US$127.8 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Promising product pipeline and growing awareness about treatment options are fuelling growth of the achondroplasia treatment market. Several pharmaceutical companies are developing pipeline candidates that target the underlying cause of achondroplasia rather than just managing symptoms. Some notable candidates in clinical trials include BioMarin's vosoritide, Ascendis Pharma's TransCon CNP and PhaseBio’s investigational product for achondroplasia. Moreover, support organizations like Achondroplasia Forward are raising awareness and advocacy efforts, which is positively impacting the market.

 Porter’s Analysis

Threat of new entrants: Low-moderate as this market requires huge R&D investments and regulatory approvals for treatment. Bargaining power of buyers: Moderate as limited options are available in the market. Bargaining power of suppliers: Moderate as suppliers have pricing power due to specialized drugs. Threat of new substitutes: Low as treatment options are limited. Competitive rivalry: High as key players are aggressively expanding their pipeline molecules.

SWOT Analysis

Strength: Existing treatment options, growing public awareness. Weakness: High cost of treatment, low diagnosis rates. Opportunity: Rising prevalence, emerging economies. Threats: Stringent regulations, reimbursement issues.

Key Takeaways

The Global Achondroplasia Treatment Market is expected to witness high growth, exhibiting CAGR of 12 % over the forecast period, due to increasing prevalence of Achondroplasia disorder globally.

The US market currently dominates the global Achondroplasia Treatment market and is expected to grow at a CAGR of over 35% during the forecast period, due to the strong presence of major pharmaceutical players, rising healthcare expenditure in the region. The Asia Pacific region is expected to be the fastest growing market exhibiting a CAGR of over 38% during the forecast period due to huge patient pool, rising geriatric population, and increasing medical tourism in countries like India, China and Japan.

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. These players are focused on expanding their product portfolio by developing new and innovative therapies for more effective treatment of Achondroplasia through mergers, acquisitions and partnerships.

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