Huntington’s Disease Treatment Market Research, 2031
The global huntington’s disease treatment market was valued at $315.2 million in 2021, and is projected to reach $707.5 million by 2031, growing at a CAGR of 8.4% from 2022 to 2031. Huntington’s disease is a rare, genetic condition that results in the progressive destruction of brain nerve cells. The functional capacities of a person are significantly impacted by Huntington’s disease, which typically causes mobility, cognitive, and psychological issues. It usually begins while a person is in their 30s or 40s. There is currently no authorized disease-modifying medication for patients with Huntington’s disease. The rate at which symptoms appear can differ from person to person. For some people, motor skill changes come first, followed by depressive symptoms. Changes in mood and strange behavior are frequent early warning indicators.
The major factors that drive the Huntington's disease treatment market growth is increase in prevalence population and rise in demand for advanced drug types for controlling the symptoms associated with Huntington’s are the factors attributed to the growth of the Huntington’s disease treatment market. In addition, clinical trials, strong drug type pipeline are Huntington's disease treatment market trends which is expected to fuel the Huntington's disease treatment market forecast growth.
Increase in the Huntington’s disease incidence and rise in demand for advanced disease treatment also drives the Huntington’s disease treatment market growth. However, scenario of complications associated with Huntington’s disease treatment is more which is expected to hamper the Huntington's disease treatment industry growth. Various R & D studies for the disease-modifying drugs is a great Huntington's disease treatment market opportunity for the investors.
Impact of COVID-19
The COVID-19 outbreak is anticipated to have a negative impact on the Huntington's disease treatment market size. A huge number of clinics and hospitals across the globe were restructured to increase hospital capacity for patients diagnosed with COVID-19. Non-essential procedures took a potential backlog, owing to rapidly rising COVID-19 cases. The lockdown led to disruption of manufacturing and transportation of healthcare essentials. Furthermore, other factors responsible for the impact on the market include limited availability of medical care, shortage of healthcare staff, and rise in burden of COVID-19 related hospitalization.
Huntington’s disease treatment is a progressive disorder, and while the health-care system focused on the COVID-19 pandemic, these patients still need to be treated properly. Moreover, a higher desire for home care over the hospital rehab was observed. Thus, the COVID-19 outbreak is anticipated to have a negative impact on the growth of the global Huntington’s disease treatment market.
The global Huntington's disease treatment market size is segmented on the basis of drug type, age, distribution channel, and region. On the basis of drug type, the market is categorized into approved drugs and off label drugs. Approved drug is further classified by type as tetrabenazine and deutetrabenazine. By age, it is divided into below 50 years and above 50 years. By distribution channel, it is segmented into hospital pharmacies, drug store & retail pharmacies and online pharmacies. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA)
By drug type, the Huntington's disease treatment market share is segmented into approved drugs and off-label drugs. The approved drugs segment generated maximum revenue in 2021 and also is expected to witness highest CAGR during the forecast period, owing to effective treatment and surge in the development of other disease-modifying drugs.
Depending on age, the Huntington's disease treatment market share market is divided into below 50 years and above 50 years. The below 50 years segment dominated the market in 2021, and also is expected to witness highest CAGR during the forecast period owing to a higher incidence of disease in this age group.
Depending on the distribution channel, the Huntington's disease treatment market analysis is divided into hospital pharmacies, drug store & retail pharmacies and online pharmacies. The drug store and retail pharmacies segment dominated the market in 2021 as provide advice on its offerings of over-the-counter drugs, and online pharmacies is expected to witness the highest CAGR during the forecast period owing to increase in trend of online shopping and discount provided.
North America accounted for a majority of the global Huntington’s disease treatment market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in Huntington's treatment market, and, presence of key and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth in the Huntington's disease treatment industry, owing rise in patient population, development of healthcare infrastructure and increase in investments projects in the region.
The major players profiled in the Huntington's treatment market are Annexon Biosciences, Bausch Health Companies Inc, Dr.Reddy's Laboratories Ltd, Eli Lilly And Company, Hikma Pharmaceuticals PLC, Lupin, Medesis pharma SA, Mitochon Pharmaceuticals, Neurocrine bioscience Inc., Novartis, PTC Therapeutics, Inc, SOM Biotech, Sun Pharmaceuticals, Teva Pharmaceuticals Industries Ltd., UniQure, Vaccinex, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the huntington’s disease treatment market analysis from 2021 to 2031 to identify the prevailing huntington’s disease treatment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the huntington’s disease treatment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global huntington’s disease treatment market trends, key players, market segments, application areas, and market growth strategies.
Huntington’s Disease Treatment Market Report Highlights
Market Size By 2031
USD 707.5 million
CAGR of 8.4%
2021 - 2031
By Drug type
By Distribution channel
Key Market Players
Vaccinex, Inc, AOP Health, Annexon Biosciences, som biotech, Teva Pharmaceutical Industries Ltd., Novartis AG, Medesis Pharma SA, Sun Pharmaceuticals Industries Ltd., Mitochon Pharmaceuticals, Prilenia Therapeutics, Lupin, UniQure, Dr. Reddy’s Laboratories Ltd., Neurocrine Biosciences, Hikma Pharmaceuticals plc, PTC Therapeutics, Bausch Health Companies Inc.
This section provides opinions of top level CXOs in the global Huntington’s disease treatment market. According to insights of CXOs, leading companies in the market and development of advanced and reliable Huntington’s disease treatment systems has led to rise in R&D investments. Moreover, strong product pipeline and better healthcare services are also expected to propel the Huntington’s disease treatment market.
The Huntington’s disease treatment industry holds the high potential, owing to innovative concepts and multidisciplinary expertise demand for new technological advancements in creation of Huntington’s disease treatment. Recommendations for them are anticipated to expand with introduction of new drugs for treatment with less side effects. Increase in investments in research and development in drug discovery provide a lucrative opportunity for the Huntington’s disease treatment market.