by The global Charcot Marie Tooth Disease Market is estimated to be valued at US$ 1208.92 Mn 2023 and is expected to exhibit a CAGR of 23.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Charcot Marie Tooth disease, also known as peroneal muscular atrophy or hereditary motor and sensory neuropathy, is a group of inherited neurological disorders that affect the peripheral nervous system. The main symptoms include weakness and wasting away of the leg, foot, and hand muscles.
Market key trends:
One of the key trends in the Charcot Marie Tooth Disease market is the increasing research and development activities for new drug development. Pharmaceutical companies are focusing on developing novel therapies for the treatment of Charcot Marie Tooth disease. For instance, Neurogene Inc. is developing RNM-484 drug candidate for the treatment of Charcot Marie Tooth disease type 1A (CMT1A). Addex Therapeutics Ltd. is developing dipraglurant for treating pain associated with Charcot-Marie-Tooth disease. if approved, these new drug therapies will drive the market growth during the forecast period.
Market key trends:
Charcot Marie Tooth Disease Market is witnessing high research and development activities. Development of new drug candidates with novel mechanisms of action is one of the key trends in this market. Recently, ACE-083, a novel orally administered small molecule developed by Acorda Therapeutics received an orphan drug designation from FDA for the treatment of Charcot-Marie-Tooth disease type 1A. This drug is believed to reduce toxic RNFL4 protein levels and shows promise in slowing disease progression.
SWOT Analysis
Strength: High unmet medical need for effective treatment options presents a large target patient population.
Weakness: Genetic heterogeneity of the disease poses challenges in drug development. Treatment of subtypes may require individualized strategies.
Opportunity: Recent research advancing understanding of disease pathology at molecular level has aided identification of novel targets and development of new therapies.
Threats: Long development timelines and regulatory hurdles for rare disease drug approvals increase investment risks for pharmaceutical companies.
Key Takeaways
The global Charcot Marie Tooth Disease Market is expected to witness high growth, exhibiting 23.% CAGR over the forecast period, due to increasing research & development activities of niche pharmaceutical companies in orphan drug space.
Regionally, North America is expected to dominate Charcot Marie Tooth Disease Market owing to concentration of key market players and availability of advanced healthcare facilities for rare disease treatment. Europe is also expected to grow substantially due to presence of supportive government policies for rare disease research.
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 recently initiated PRECISION trial to evaluate ACE-083 in treating Charcot–Marie–Tooth disease type 1A.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
