Market Overview:
The Charcot-Marie-Tooth disease market comprises drugs that are used for the treatment of Charcot-Marie-Tooth disease (CMT). CMT is a genetic disorder characterized by the gradual weakening and atrophy of muscles in the legs and arms caused by damage to peripheral nerves. The standard treatment includes physiotherapy, bracing or orthotics, and assistive devices. However, researchers are focusing on developing novel therapeutic approaches such as gene therapy, neurotrophic factors, and vitamins to slow or halt the progression of the disease. These new treatment options are expected to drive the growth of the Charcot-Marie-Tooth disease market during the forecast period.
Market key trends:
One of the key trends in the Charcot-Marie-Tooth disease market is the increasing research and development activities for novel drug development. Various pharmaceutical companies and research institutes are conducting clinical trials to evaluate drug candidates for the treatment of CMT. For instance, in September 2021, Genzyme Corporation announced positive top-line results from a Phase 3 clinical trial evaluating aldurazyme for CMT type 1A. The trial met its primary endpoint and aldurazyme was found to be generally well-tolerated. Such ongoing R&D initiatives are fueling the growth of the market.
Porter’s Analysis
The threat of new entrants: Low investment requirement creates a threat of new entrants in the Charcot-Marie-Tooth Disease market.
Bargaining power of buyers: A large presence of existing drugs and treatment options increases the bargaining power of buyers in this market.
Bargaining power of suppliers: Highly specialized products and services utilized in CMT treatment command higher bargaining power for suppliers.
Threat of new substitutes: Several substitute drugs and therapies can potentially treat CMT symptoms, posing a threat of substitutes.
Competitive rivalry: A significant number of pharmaceutical companies engaged in the development and commercialization of innovative CMT drugs intensify competitive rivalry.
The global Charcot-Marie-Tooth Disease Market Demand is estimated to be valued at US$ 793.9 Mn in 2023 and is expected to exhibit a CAGR of 23.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways:
The global Charcot-Marie-Tooth Disease market is expected to witness high growth, exhibiting CAGR of 23.4% over the forecast period, due to increasing investment in R&D of novel drugs for CMT treatment. North America dominates the global Charcot-Marie-Tooth Disease market due to well-established healthcare infrastructure and high healthcare expenditure in the region. The Asia Pacific region will emerge as the fastest-growing market owing to rising prevalence of CMT and improving healthcare facilities in the region.
Key players operating in the Charcot-Marie-Tooth Disease market are Addex Therapeutics Ltd., Affectis Pharmaceuticals AG, Genzyme Corp, Lead Discovery Center GmbH, Pharnext SA, Acceleron Pharma, MedDay Pharmaceuticals, Bristol-Myers-Squibb Company, Inflectis Bio Science Health Company, Helixmith Co., Ltd., and Neurogene Inc. Addex Therapeutics Ltd., Affectis Pharmaceuticals AG and Genzyme Corp currently dominate the market with their wide product portfolio and strong geographical presence across major markets.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
