What is Achondroplasty Treatment Drug Market?
Achondroplasty treatment drug is used for the treatment of Achondroplasia, which is a rare genetic bone disorder. It causes the strong, flexible tissue called cartilage to not be made into bone as normal. The FGFR3 gene provides fibroblast growth factor receptor 3 which is used in converting cartilage to bone. FGFR3 is only one gene associated with achondroplasia. But still, no specific treatment is available for achondroplasia. There are so much research and development happening to cure achondroplasia. Moreover, growth hormone therapy is one of the treatments for achondroplasia for only a short duration of time. Increasing demand from parents who having achondroplasia boosting the demand for achondroplasia treatment drug market in the forecast period.
Highlights from Achondroplasty Treatment Drug Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Ascendis Pharma A/S (Denmark), BioMarin Pharmaceutical Inc (United States), Ribomic Inc (Japan), Ultragenyx Pharmaceutical Inc (United States), BridgeBio Pharma, Inc. (United States) and Pfizer Inc. (United States) |
Achondroplasty Treatment Drug market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Achondroplasty Treatment Drug market throughout the forecasted period.
Ascendis Pharma A/S (Denmark), BioMarin Pharmaceutical Inc (United States), Ribomic Inc (Japan), Ultragenyx Pharmaceutical Inc (United States), BridgeBio Pharma, Inc. (United States) and Pfizer Inc. (United States) are some of the key players profiled in the study. Achondroplasty Treatment Drug Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Hospital, Clinic and Others |
Type | Lipase Inhibitor, Appetite Suppresants and Human Growth Hormone |
Patient Type | Adult,Paediatric |
Distribution Channel | Hospital Pharmacies,Online Pharmacy,Retail Pharmacy |
On the basis of geography, the market of Achondroplasty Treatment Drug has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Achondroplasia Diagnosed after Birth with a Physical Exam
Market Growth Drivers:
Increasing Incidences of Achondroplastic Dwarfism and Rising Concern Towards Physical Characteristics
Challenges:
After Treatment Chances of Causing Unexpected New Mutations
Restraints:
Lack of Awareness related to Treatment
Opportunities:
Increasing Demand from the Parents who already Having an Achondroplasia and Growing Product Development in Treatment of Achondroplasia by Various Manufacturers
Key Target Audience
Achondroplasty Treatment Drug Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
Market Leaders & Development Strategies
On 2nd November 2020, BioMarin Pharmaceutical Inc. has announced that the U.S. Food and Drug Administration (FDA) has accepted the New Drug Application (NDA) for vosoritide, an investigational, once-daily injection analog of C-type Natriuretic Peptide (CNP) for children with achondroplasia, the most common form of disproportionate short stature in humans. This acceptance by the FDA marks the first marketing application accepted for treatment for achondroplasia in the United States.
In July 2019, Ascendis Pharma A/S utilizes its innovative TransCon technologies to address significant unmet medical needs, announced the filing of an investigational new drug (IND) application with the U.S. Food and Drug Administration (FDA) to initiate the ACcomplisH Trial, a global phase 2 trial designed to evaluate the safety and efficacy of TransCon CNP in children with achondroplasia.