The global Wilson’s Disease Treatment Market is estimated to be valued at US$ 560.2 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Wilson’s disease is a rare disorder that causes excess copper to accumulate in the body’s tissues. It primarily affects the liver and brain. Symptoms may include liver disease, neurologic symptoms such as tremors and muscle rigidity. The current standard treatments include copper chelating agents such as penicillamine, trientine and zinc. These drugs help eliminate excess copper from the body by binding to it. Liver transplant may also be required in severe cases. Recently emerging therapies include gene therapy and stem cell therapy, which aim to correct the underlying genetic defect and provide long term cure.
Market key trends:
One of the major trends in the Wilson’s disease treatment market is rising research in gene therapy. Several pharmaceutical companies are conducting clinical trials to evaluate gene therapy as a potential cure for Wilson’s disease. Gene therapy aims to deliver functional copies of the ATP7B gene to liver cells using viral vectors. This could correct the underlying genetic defect and eliminate the need for lifelong copper chelating medication. Another emerging trend is the use of stem cell therapy. Transplanting genetically modified stem cells can also theoretically restore copper transport function in liver cells. These novel treatment approaches have the potential to revolutionize Wilson’s disease management if successful.
Threat of new entrants: The threat of new entrants is moderate in the Wilson’s disease treatment market as it requires high R&D investments and various clinical trials for new drug approval. Also, established players have strong brand names.
Bargaining power of buyers: The bargaining power of buyers is low due to the specialized nature of treatment and limited product availability. Switching costs are also high for patients.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key inputs like active pharmaceutical ingredients have few substitutes and suppliers have moderate switching costs.
Threat of new substitutes: The threat of new substitutes is low as existing drugs have well-established efficacy and safety profiles. New substitutes require significant investments.
Competitive rivalry: Competition is moderate to high as major players compete on the basis of pricing, brand recognition, and new product innovations.
The global Wilson’s disease treatment market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing awareness about the disease and its treatment options.
North America dominates the global Wilson’s disease treatment market owing to the growing diagnosis rates and rising healthcare spending in the region. Europe is also a major market driven by the presence of sophisticated healthcare infrastructure. Asia Pacific is expected to be the fastest growing market over the next few years due to the rising healthcare awareness in developing countries like India and China.
Key players operating in the Wilson’s disease treatment market are Valeant Pharmaceuticals International, Inc., Noblepharma Co., Ltd., Wilson Therapeutics AB, Kadmon Holdings, Inc., Merck & Co., Inc., VHB Life Science Ltd., Teva Pharmaceuticals USA, Inc., and Tsumura & Co.