Int'l : +1-503-894-6022 | Toll Free : +1-800-792-5285 | help@alliedmarketresearch.com
A12337 | Pages: NA | Charts: NA | Tables: NA |
Amifampridine Market Overview: 2030
Amifamprdine is used as a drug for treating a number of rare muscle diseases. The free base form of amifampridine is used to treat Lambert–Eaton myasthenic syndrome (LEMS) and congenital myasthenic syndromes. It was discovered in Scotland in the 1970s, and its use in LEMS was first shown in the 1980s. Amifampridine, a quaternary ammonium compound, can help block the presynaptic potassium channels. Thus, the drug helps prolong the action potential and aids in increasing presynaptic calcium concentration. Amifampridine is ideally given in the form of oral tablets three or four times a day
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.
However, with COVID-19, the supply chain of raw materials required to manufacture amifampridine has been disrupted in many countries. In addition, the market growth of pharmaceuticals is declining, as the manufacturers of drugs have slowed down their production due to the pandemic. With reduction in production activities, shortage of amifampridine has been witnessed in in many regions. This, in turn, is expected to have a significant impact on the amifampridine market.
Top Impacting Factors
Rise in prevalence of muscle-specific kinase myasthenia gravis is positively influencing the amifampridine market. This is attributed to the fact that amifampridine can be used to lessen symptoms of loss of muscle movement and muscle weakness associated with muscle-specific kinase myasthenia gravis.
Increase in healthcare spending by governments all across the world is enabling the manufacturers of amifampridine to penetrate deeper into the market. This factor is therefore positively influencing the market growth.
The demand for better drugs that help control the symptoms of rare muscle diseases such as Lambert–Eaton myasthenic syndrome (LEMS) and congenital myasthenic syndromes has fueled the growth of the market.
However, amifampridine can affect the voltage-gated channels of the heart which is why it is contraindicated in people who have the long QT syndrome. Hence, this factor can impede the growth of the amifampridine market.
Key Market Trends
Many key players of the amifampridine market are focusing on assessing challenges that could influence the dominance of amifampridine. With this, they are finding opportunities to serve a large customer base.
North America holds a major share of the amifampridine market, owing to availability of sophisticated healthcare infrastructure and high purchasing power of citizens. With high purchasing power, the people of this region can easily seek healthcare services and afford the cost of pharmaceuticals.
Europe is one of the leading players in the market, attributable to favorable healthcare reimbursement policies for citizens.
In addition, Asia-Pacific is anticipated to show a high growth rate in the amifampridine market due to presence of high population base and rise in cases of muscle-specific kinase myasthenia gravis.
Key Benefits of the Report
Questions Answered in the Amifampridine Report
Key Market Segments
Key Market Players