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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