Charcot-Marie-Tooth disease (CMT) refers to a group of inheritedneuropathies characterized by muscle wasting and weakness in the lower legs and feet. The signs and symptoms of CMT are caused by damage to the peripheral nerves that connect the spinal cord and brain to muscles. Effective treatments are needed to improve mobility and quality of life for millions of patients globally.
The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1208.92 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Emerging therapies are playing a key role in accelerating growth of the Charcot-Marie-Tooth disease market. Several biopharmaceutical companies are conducting clinical trials evaluating drug candidates that aim to halt progression or improve symptoms of CMT. For instance, Dignity is developing DXP-597 for the treatment of Type 1 CMT, which has received orphan drug designation from the FDA. If approved, DXP-597 has the potential to be a first-in-class therapy for CMT1 and could capture a sizable market share. Further, ongoing research in areas such as gene therapy and stem cell therapy hold promise to fundamentally alter the treatment landscape for CMT in the long run. These emerging therapies are expected to drive substantial growth of the market over the forecast period.
Segment Analysis
The global Charcot-Marie-Tooth disease market is dominated by the drug therapy segment. This is due to the availability of both prescription and over-the-counter drugs to manage the symptoms of Charcot-Marie-Tooth disease such as pain, muscle cramps, muscle weakness, and others. The drug therapy segment is further segmented into pain relievers, cramp relievers, antidepressants, and others. Pain relievers accounted for the largest share due to their wide usage for symptom management.
Key Takeaways
The Global Charcot-Marie-Tooth Disease Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 1208.92 Mn by 2024.
Regional analysis
North America dominated the global Charcot-Marie-Tooth disease market in 2021 due to the high prevalence of the disease in the region along with availability of advanced treatment options and reimbursement. Asia Pacific is expected to grow at the fastest pace during the forecast period owing to the large population base, improving healthcare infrastructure, and increasing awareness about rare diseases in developing countries such as India and China.
Key players
Key players operating in the Charcot-Marie-Tooth disease market are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, Drägerwerk AG & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. Baxter is a leading player owing to its broad portfolio of therapies and global presence.
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