Achondroplasia is a genetic bone growth disorder that mainly affects the arms and legs, leading to short stature and abnormal bone growth. Treatment options for achondroplasia have seen tremendous advancements in the past few years. Some of the common treatments used include recombinant human growth hormone (rhGH) therapy and orthopedic surgical procedures. rhGH therapy is designed to help accelerate growth and improve mobility by stimulating cartilage growth at the growth plates. Surgical procedures such as limb lengthening aim to increase height through a gradual process of pulling apart the fracture sites where incisions are made in the leg bones.
The global Achondroplasia Treatment Market is estimated to be valued at US$ 127.8 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The Achondroplasia Treatment Market has seen increased investments from large pharmaceutical companies to develop innovative therapies. Some of the key trends in the market include a rise in gene therapy approaches for patients. In gene therapy, a normal form of the FGFR3 gene is inserted into the body to overwrite the effects of the mutated gene that causes achondroplasia. This has the potential to correct the underlying disorder. Researchers are also investigating antisense oligonucleotide (ASO) therapies that could block the production of mutated FGFR3. There is also increased research on small molecule drugs that aim to inhibit the FGFR3 signaling pathway. These newer treatment approaches are likely to transform the care for achondroplasia patients in the coming years.
Porter’s Analysis
Threat of new entrants: The Achondroplasia Treatment market is difficult for new entrants given the significant capital investment needed for R&D.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of few treatment options for Achondroplasia.
Bargaining power of suppliers: Suppliers have moderate bargaining power as the supply chain involves patented drugs and technology.
Threat of new substitutes: Low threat as there are limited treatment options available for Achondroplasia.
Competitive rivalry: Intense as major players compete on basis of pipeline drugs and treatment effectiveness.
Key Takeaways
The Global Achondroplasia Treatment Market Size is expected to witness high growth over the forecast period 2023 to 2030. The global Achondroplasia Treatment Market is estimated to be valued at US$ 127.8 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.
|Regional analysis
North America is anticipated to lead the global Achondroplasia Treatment market during the forecast period. This is attributed to growing research activities for developing new treatment options and presence of major market players. Europe follows North America in terms of market share supported by availability of favorable reimbursement policies for Achondroplasia treatment. Rising healthcare expenditure is also expected to boost market growth in the region.
Key players
Key players operating in the Achondroplasia Treatment market are Salesforce.com, Inc., Microsoft Corporation, ADOBE INC., SAP SE, Oracle Corporation, SugarCRM Inc., Zoho Corporation Pvt. Ltd, Copper CRM, Inc., Insightly Inc., and Creatio. Major players compete on basis of pipeline drugs and focus on enhancing treatment effectiveness through R&D activities. Strategic collaborations help companies expand geographic presence and strengthen product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it