The Achondroplasia treatment market comprises pharmaceutical products used for treatment of Achondroplasia disorder. Achondroplasia is the most common type of dwarfism, which leads to short stature and disproportionately short limbs caused by a mutation in the fibroblast growth factor receptor 3 (FGFR3) gene.
The global Achondroplasia treatment market is estimated to be valued at US$ 147.23 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Key Takeaways
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. Key players are focused on achieving regulatory approvals and launching new drug products for treatment of Achondroplasia.
The key opportunities in Achondroplasia Treatment Market include rise in research and development activities for development of new drug candidates, and increasing awareness regarding available treatment options. Companies are expanding their presence globally with focus on emerging markets in Asia Pacific and Latin America.
Major players are undertaking initiatives for global expansion through strategic collaborations and partnerships with regional and local distributors. Companies are also focusing on geographical expansion in emerging countries through acquisition strategies.
Market drivers: Increase in prevalence of Achondroplasia disorder globally is the major factor driving the growth of Achondroplasia treatment market. According to Achondroplasia Resource Center, Achondroplasia occurs in approximately 1 in 15,000 to 40,000 newborns worldwide.
Market restraints: High costs associated with Achondroplasia treatment drugs is a major challenge for market growth. Drugs available for treatment of Achondroplasia have high prices which limits their access and adoption in low and middle income countries.
Segment Analysis
The achondroplasia treatment market is segmented based on treatment type, end user and distribution channel. Based on treatment type, the dominating segment is medical treatment. This sub segment accounts for the largest share owing to increasing prevalence of achondroplasia across the globe. Medical treatment includes growth hormone therapy and orthopedic surgeries which are commonly prescribed treatments for achondroplasia.
Global Analysis
North America is expected to be the fastest growing region in the achondroplasia treatment market from 2024 to 2031. This is attributed to presence of advanced healthcare infrastructure, rising healthcare expenditure and presence of key players in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), around 15,000 to 20,000 people in the US have achondroplasia. Additionally, presence of prominent players engaged in new drug development and increasing awareness about available treatment are driving the market growth in North America. Asia Pacific is anticipated to showcase lucrative growth during the forecast period due to growing geriatric population, improved access to healthcare facilities and increasing disposable income in emerging economies like India and China.
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