Refsum disease is a genetic disease that is inherited as an autosomal recessive trait. The major cause of refsum disease is the accumulation of fatty acid (phytanic acid) in the plasma and tissues. It is indicated by numbness or weakness in the feet and hands, as well as a lack of the peroxisomes enzyme, which helps break down phytanic acid. It occurs due to the malfunction of the enzyme-producing gene that metabolizes phytanic acid. The disorder is caused by a mutation in the PHYH gene. Moreover, symptoms of refsum disease include progressive vision loss (retinitis pigmentosa), degenerative nerve disease (peripheral neuropathy); muscle coordination failure (ataxia); and dry, rough, scaly skin (ichthyosis).
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in 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 shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the global refsum disease treatment market.
Top Impacting Factors
Increase in awareness about the rare and genetic disorders and rising population drive the growth of the refsum disease treatment market.
In addition, rise in genetic mutations led by the environmental changes increases the probability of its occurrence leading to surge in demand for treatments of refsum disease, thus boosting the growth of the market.
Furthermore, substantial investments put in the R&D activities for the innovation & development of new medical devices, treatments, and medicines foster the growth of the market.
Moreover, increasing government support, improving regulatory framework, and rising funding and reimbursement continuously contributing to the growth of the refsum disease treatment market.
However, complications related to the disease such as cardiac abnormalities and cardiomyopathy which leads to premature death which is the restraining factor for the market growth.
New Product Launches to Flourish the Market
In April 2019, Progenity Inc. launched the Resura Prenatal Test for Monogenic Disease, the first of its kind, commercially available, customizable, and noninvasive prenatal test (NIPT) for single-gene disorders. The new test broadens expectant parents prenatal testing options to include a safe, non-invasive test tailored to their family’s risk for a specific genetic disease.
Additionally, the company announced improvements to its Innatal Prenatal Screen, a leading NIPT (non-invasive prenatal test) for chromosomal aneuploidies that now provides greater specificity and sensitivity in evaluating aneuploidy across all chromosomes tested in a recent validation study.
Key Benefits of the Report
- This study presents the analytical depiction of the refsum disease treatment market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Refsum Disease Treatment Market Report
- Which are the leading market players active in the refsum disease treatment market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is refsum disease treatment market?
- What is refsum disease treatment market prediction in the future?
- Who are the leading global players in the refsum disease treatment market?
- What are the current trends and predicted trends?
- What are the key benefits of the refsum disease treatment market report?
Refsum Disease Treatment Market Report Highlights
By End User
Key Market Players
Igenomix, B. Braun Medical Inc., Cochlear Ltd., Fresenius Kabi, Agilent Technologies, Ceuta Healthcare Limited, Medline Industries Inc, Cook, BioRad Laboratories Inc, Illumina, Inc.