The global Frasier Syndrome Market is estimated to be valued at US$ 141.2 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Frasier syndrome is a rare genetic disorder characterized by gonadal dysgenesis in 46,XY individuals and risk for developing Wilms tumor. The main diagnostic tests for Frasier syndrome include invasive tissue biopsy, genetic/molecular testing such as whole exome sequencing, karyotyping and mutational analysis. Advances in non-invasive liquid biopsy techniques and growth of at-home testing kits are expected to drive early diagnosis and monitoring of Frasier syndrome.
Market key trends:
Automated diagnostic technologies are gaining popularity for screening and diagnosis of rare genetic disorders like Frasier syndrome. Technologies such as next generation sequencing (NGS) allow comprehensive analysis of multiple genes simultaneously, improving diagnostic yield. Portable and affordable genetic testing kits are being developed to facilitate at-home sample collection and testing. Telehealth and mHealth solutions enable remote monitoring and management of Frasier syndrome patients. Increased awareness about early diagnosis and availability of novel diagnostics are major trends fueling growth of the Frasier syndrome market during the forecast period.
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Porter’s Analysis
Threat of new entrants: The Frasier Syndrome Market requires high capital investment for R&D of new treatments which poses barriers for new companies.
Bargaining power of buyers: Individual consumers have low bargaining power due to the life threatening nature of the disease whereas bulk buyers like hospitals have moderate bargaining power.
Bargaining power of suppliers: Few biopharmaceutical companies that are engaged in developing treatments for Frasier Syndrome have significant bargaining power.
Threat of new substitutes: There exists very low threat as there are no substitutes for effective treatment of Frasier Syndrome.
Competitive rivalry: Major players strive to gain higher market share by undertaking initiatives like collaborations, acquisitions and new product launches.
Key Takeaways
The global Frasier Syndrome market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing focus on development of personalized treatments.
Regional analysis- North America dominates the global Frasier Syndrome market supported by rising healthcare spending and presence of key players in the region. The Asia Pacific region is expected to witness fastest growth owing to increasing patient awareness and surge in healthcare investments.
Key players operating in the Frasier Syndrome market are Thermo Fisher Scientific, Invitae Corporation, GE Healthcare, Koninklijke Philips N.V., Mindray Medical, Siemens, Canon Medical Systems Corporation, FUJIFILM Sonosite Inc., ESAOTE SPA, SAMSUNGHEALTHCARE, Empire Genomics Inc., BPL Medical Technologies, Trivitron Healthcare, and Hitachi Healthcare. Key players are majorly focusing on new product launches and collaborations to strengthen their geographic presence.