Huntington’s Disease Treatment market to Flourish with an Impressive CAGR During 2022-2032
In 2021, the global Huntington's disease treatment market was pegged at US$ 360 Mn and is projected to grow at a CAGR of 20% from 2022-2032. According to a recently published Fact.MR report, it is estimated that the market will reach US$ 2.7 Bn by 2032.
Due to the global COVID-19 pandemic, the market's growth rate slowed to 7% from 2019 until mid-2020. Online pharmacies were selling off-label drugs to manage symptoms of HD during the COVID-19 pandemic, such as antipsychotics, antidepressants, and anticonvulsants. As a result of the government-imposed blackout, clinical trials were delayed during the COVID-19 pandemic.
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The market is predicted to grow at a y-o-y rate of 6.5% between 2022 and 2023. As of the second quarter of 2021, most hospitals and clinics worldwide reported an increase in the frequency of clinical visits for HD diagnosis and treatment. Ingrezza's expected expansion of its label to include chorea associated with Huntington's disease. This is due to the high incidence of Huntington's disease in western countries. These are anticipated to be major market drivers.
Key Takeaways from the Market Study
- Huntington's disease treatment market is expected to reach US$ 432 Mn by 2022
- Asia Pacific is expected to witness rapid growth for Huntington's disease treatment, with 45% of revenue share
- Symptomatic Huntington's disease treatment will be the most sought after accounting for 98% revenue
- North America to account for 77% of the global market for the treatment of Huntington’s disease
- Disease modifying therapies accumulated US$ 4.2 Bn by 2021, expected to flourish at a 9.1% CAGR until 2032
Rising prevalence of rare genetic disorders amongst the urban population has increased the incidence of Huntington’s disease, with key healthcare stakeholders attempting to discover novel therapeutic approaches, providing a platform for manufacturers to expand their influence in the global market, says a Fact.MR analyst.
Competitive Landscape
In order to gain a significant share of the market, key players are focusing on new product development and partnerships.
- In September 2021, Spark Therapeutics, Inc. (a subsidiary of F Hoffmann La Roche Ltd) will form a partnership with NeuExcell Therapeutics Inc to develop gene therapy for treating HD patients. As part of the deal, NeuExcell Therapeutics will receive upfront license fees, R&D milestone payments, and product royalties of up to approximately USD 190 Mn.
- Teva Pharmaceutical Industries Ltd's Austedo, a drug intended to treat chorea associated with HD, has received approval from the National Medical Products Association (NMPA) in China in May 2020. With AUSTEDO's approval in China, the company expects to expand its patient base and revenue.
- To present phase 3 results for candidate pridopidine at the HC Walkewright 23rd Annual Global Investment Conference, the Cantor Virtual Global Healthcare Conference, and the European Huntington Disease Network, Prilenia Therapeutics BV announced its participation in September 2021. A healthcare conference is a worthwhile opportunity to expand your customer base.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the Huntington’s disease treatment market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of treatment (symptomatic treatment and disease modifying therapies) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle Eats & Africa).
Key Segments Covered in the Huntington’s disease Treatment Industry Survey
· By Treatment
- Symptomatic Treatment of Huntington’s disease
- Disease-Modifying Therapies for Huntington’s disease
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