Charcot-Marie-Tooth disease (CMT) refers to a group of inherited neuromuscular disorders that cause damage to the peripheral nerves, which are those outside of the brain and spinal cord. The global CMT disease market involves the research and development of various treatment approaches including drug therapies and gene or cell-based therapies. Symptoms of CMT disease include weakness in the legs and feet as well as muscle wasting and deformities of the feet and lower legs. Currently, there is no cure for CMT disease and treatment focuses on managing symptoms.
The global Charcot-Marie-Tooth disease market is estimated to be valued at US$ 1208.92 million in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The market is witnessing considerable growth opportunities due to growing research in the area of gene therapy for CMT disease. Several biotechnology companies are developing gene therapy approaches aiming to deliver a functional copy of the faulty gene to replace the abnormal one causing CMT disease. If successful, gene therapy could potentially cure CMT disease.
Market Dynamics:
Gene therapy is expected to be a major driver for the growth of the CMT disease market over the forecast period as referred to in the heading. Currently, several gene therapy clinical trials are underway to evaluate the potential of gene therapy for different subtypes of CMT disease. For example, Avexis, a subsidiary of Novartis, is conducting a phase 1/2 clinical trial evaluating AVXS-501 gene therapy for childhood-onset CMT1A. Early results from this trial showed patients experienced improvements in motor function. Another gene therapy approach involves using adeno-associated viral vectors (AAV) to deliver therapeutic genes. Beyond traditional gene augmentation therapy, novel gene editing techniques such as CRISPR are also being explored which allows direct in vivo editing of the mutated gene. The successful development of safe and effective gene therapies would revolutionize the treatment landscape of CMT disease from symptomatic treatment to potential cure. This in turn is expected to significantly drive growth of the CMT disease market during the forecast period.
Segment Analysis
The Charcot-Marie-Tooth Disease Market can be segmented into type, treatment, end-user, and geography. By type, the market is classified into CMT1, hereditary neuropathy with liability to pressure palsies, and others. CMT1 accounts for the lion’s share owing to rising incidence of the condition. By treatment, medications such as steroids for acute inflammatory demyelinating polyneuropathy and amifampridine to improve muscle strength dominate as patients rely on treatment for symptomatic relief. Pharmacies accounted for the largest share in the end-user segment due to higher patient footfall and availability of medications.
PEST Analysis
Political: Market growth is positively impacted by regulations mandating universal healthcare coverage and supporting research activities in developing nations.
Economic: Rising patient disposable incomes in emerging countries have boosted adoption of high-cost medications.
Social: Growing awareness programs by patient associations have encouraged early diagnosis and treatment seeking.
Technological: Advancements in treatment methods such as stem cell therapy and gene therapy hold promise but are currently in experimental stages.
Key Takeaways
The Global Charcot-Marie-Tooth Disease Market Size is expected to witness high growth. The global Charcot-Marie-Tooth disease market is estimated to be valued at US$ 1208.92 million in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030.
Regional analysis: North America currently dominates due to strong reimbursement policies and healthcare infrastructure. However, Asia Pacific is poised to grow at the fastest pace due to unmet needs and improving access to care.
Key players: Key players operating in the Charcot-Marie-Tooth Disease market are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, Drägerwerk AG & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
