Niemann-Pick Disease Drug Type C Treatment Market is Anticipated to Witness High Growth Owing to Rising Awareness about the Disease
Niemann-Pick Disease Drug Type C Treatment Market |
The
Niemann-Pick Disease Drug Type C Treatment Market comprises treatments such as
Zavesca and Celiprolol used to treat symptoms associated with NPC Type C
disease. Niemann-Pick disease Type C (NPC) is a rare cholesterol storage
disorder characterized by abnormal accumulation of lipids within spleen, liver,
and brain tissues. NPC disease impacts the nervous system, liver, and lungs and
manifestation of symptoms often starts during childhood.
The
global Niemann-Pick disease Drug Type C treatment market is estimated to be
valued at US$ 63.81 Mn in 2024 and
is expected to exhibit a CAGR of 6.5%
over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Niemann-Pick
Disease Drug Type C Treatment Market Demand are Olympus Corporation,
KARL STORZ SE & Co. KG, Richard Wolf GmbH, Stryker Corporation, Medtronic
plc, Ethicon (Johnson & Johnson), Braun Melsungen AG, Boston Scientific
Corporation, Cook Medical, ROCAMED, Maxer Endoscopy GmbH, Vimex Endoscopy,
PENTAX Medical (HOYA Corporation), Hunan Handlike Minimally Invasive Surgery
Co., Ltd., Optimed Medizinische Instrumente GmbH. The key players focus on
various organic and inorganic growth strategies such as partnerships, new
product launches, agreements, and collaborations to expand their regional presence
and gain larger market share.
Some of the key opportunities in the Niemann-Pick Disease Drug Type C Treatment
Market include rising awareness about the rare disease. For instance, several
international conferences and workshops are being organized to spread awareness
about the symptoms and available treatment options. According to a survey,
approximately 100 to 150 new cases of NPC are diagnosed globally each year.
Furthermore, increasing research activities by government and non-government
organizations and rising healthcare expenditure in developing economies are
projected to open new avenues over the next few years.
The growing focus of established players to expand globally in emerging markets
of Asia Pacific and Latin America will further contribute to the growth of the
Niemann-Pick Disease Drug Type C Treatment market size during the forecast
period. For example, in October 2021, Lysogene, S.A. an advanced gene therapy
company, received Rare Pediatric Disease Designation from the U.S. Food and Drug
Administration for LYS-SAF302, a gene therapy product candidate for the
treatment of Mucopolysaccharidosis Type IIIA (MPS IIIA).
Market drivers: One of the key
drivers of the Niemann-Pick disease drug Type C treatment market is the rising
awareness about the disease through various government and non-government
organization initiatives. Several international conferences are being organized
to spread awareness regarding symptoms and treatment approaches. Growing
healthcare expenditure in developing economies will also contribute to the
market growth during the forecast period.
Market restraints: However, the growth of Niemann-Pick disease drug Type C
treatment market may be hampered due to the high cost of treatment procedures
and lack of approved drug therapies. NPC is an ultra-rare disease and limited
patient pool makes drug development challenging. Furthermore, long approval
times and stringent regulations for orphan drug development can negatively
impact the market in the coming years.
Segment Analysis
The Niemann-Pick Disease Drug Type C Treatment Market is dominated by the
JNCL Subsegment. JNCL is a rare, autosomal recessive, progressive
neurodegenerative disorder characterized by ataxia, dystonia, dysarthria,
dysphagia, and dementia. It accounts for approximately 50% of the total market
share as it has higher prevalence rate compared to other types of Niemann-Pick
Disease type C. The increasing R&D activities for developing effective
treatment options for JNCL indicate promising growth opportunities for the
dominating subsegment over the forecast period.
Global Analysis
The North America region holds the largest market share in the Niemann-Pick
Disease Drug Type C Treatment Market due to increasing prevalence of NPD Type C
disorder, rising healthcare expenditure, and presence of key players in the
region. Europe is the second largest regional market on account of growing
government funding for orphan drug development. The Asia Pacific region is
anticipated to witness the fastest growth rate during the forecast period owing
to improving healthcare infrastructure, rising healthcare spending, and
expanding patient pool in countries like China and India. Rising medical
tourism in emerging Asia Pacific countries will further supplement the regional
market expansion between 2024 and 2031.
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Disease Drug Type C Treatment Market
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