Charcot-Marie-Tooth disease, also known as hereditary motor and sensory neuropathy, is a group of inherited genetic disorders that damage peripheral nerves. Symptoms of this disease include weak leg and foot muscles, numbness and tingling in the feet and hands, and foot bones that curve abnormally. It is the most common inherited peripheral neuropathy. With increasing research and funding towards developing new disease modifying therapies.
The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1,392.68 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Research and development is one of the key trends driving the growth of the Charcot-Marie-Tooth Disease Market. Ongoing clinical trials exploring new drug targets and developing therapy options are providing impetus to the market. For instance, in April 2022, Therapeutics Acquisition Corp. announced positive interim results from its ongoing Phase 1/2 clinical trial of TAC-155 for the treatment of Charcot-Marie-Tooth disease type 1A. The trial results showed that TAC-155 treatment was well-tolerated and demonstrated target engagement as evidenced by reductions in peripheral nerve perfXS1 biomarker levels. If approved, TAC-155 can potentially capture significant market share in the coming years.
SWOT Analysis
Strength: Early diagnosis can help slow progression of disease and offer patients and families better disease management.
Weakness: Limited treatment options available. Disease often goes undiagnosed or misdiagnosed for years.
Opportunity: Increased R&D into novel therapeutics. Growing awareness can help more patients get properly diagnosed and access supportive care.
Threats: Expensive cost of innovative new therapies may limit access and uptake. Lack of cure poses ongoing challenges.
Key Takeaways
The global Charcot-Marie-Tooth Disease Market Growth is expected to witness high growth. This rare genetic disorder affects the peripheral nervous system and causes muscle wasting and weakness in the legs and arms. The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1,392.68 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period 2024 to 2031.
Regional analysis: North America currently dominates the market due to higher diagnosis rates, growing awareness, and availability of advanced healthcare facilities. However, Asia Pacific is expected to witness the fastest CAGR over the forecast period aided by rising healthcare expenditure, increasing focus on rare disease diagnosis and management in countries like China and India.
Key players: Key players operating in the Charcot-Marie-Tooth Disease market include Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. These companies are focused on developing novel drug therapies and devices to optimize management of symptoms and functional deficits associated with the disease.
For more insights, read- https://www.dailyprbulletin.com/charcot-marie-tooth-disease-share/
For more insights, read- https://dailynewsmotion.weebly.com/report-blog/innovations-in-healthcare-navigating-the-cell-and-gene-therapy-market
