seattle, July 25, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global achondroplasia market is estimated to be valued at US$ 93.82 million in 2022 and is expected to exhibit a CAGR of 36.0% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Achondroplasia Market:
Major players operating in the market are focused on adopting inorganic growth strategies such as acquisitions, which is expected to drive the market growth over the forecast period. For instance, in July 2019, Pfizer Inc., a U.S.-based multinational pharmaceutical and biotechnology corporation, announced completion of its acquisition of Therachon Holding AG, a privately-held clinical-stage biotechnology company focused on rare diseases. Under the terms of the transaction, Pfizer acquired Therachon for US$ 340 million with an additional US$ 470 million payments contingent on the achievement of key milestones in the development and commercialization of TA-46. TA-46 is an investigational medicine for the treatment of achondroplasia, a genetic condition and the most common form of short-limb dwarfism.
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Key Market Takeaways:
The global achondroplasia market is expected to exhibit a CAGR of 36.0% during the forecast period due to the increasing research and development activities of somatotropin, or human growth hormone, used to augment the height of patients with achondroplasia. For instance, on December 26, 2018, Xiamen Amoytop Biotech Co., Ltd., an innovative biopharmaceutical company in China, initiated a Phase 2 & 3 combined study to evaluate the safety and efficacy of weekly Y-shape pegylated somatropin, compared to daily somatropin (Norditropin), in prepubertal, treatment-naive children with growth hormone deficiency. The study is estimated to be completed by December 31, 2022.
Among treatment type, the others segment which includes pipeline drugs, appetite suppressants, etc., is expected to dominate the segment growth over the forecast period, owing to the increased research and development activities by key players for the treatment of achondroplasia. For instance, in April 2022, RIBOMIC, Inc., a clinical stage pharmaceutical company, submitted an Investigational New Drug Application (IND) for an observational study of the drug RBM-007, shown to have potent effects in limiting excessive interactions between fibroblast growth factors, which are known to cause achondroplasia, to the pharmaceuticals and Medical Devices Agency (PMDA) in Japan.
On the basis of route of administration, the oral segment is expected to dominate the segment growth over the forecast period, owing to the increasing research and development activities for the oral administration of drugs for the treatment of achondroplasia. For instance, according to an article published in PLOS One in April 2020, the drug meclizine hydrochloride inhibited fibroblast growth factor receptor 3 (FGFR3) signaling in various chondrocytic cells and promoted longitudinal bone growth in mouse model of achondroplasia. A phase Ia study performed to evaluate the pharmacokinetics and safety of meclizine administered orally to children with achondroplasia showed that meclizine was rapidly absorbed after the oral administration and showed higher exposure in children than in adults and in the fed condition than in the fasted condition. The study was conducted in Nagoya University Hospital, Nagoya, Japan. The results stated that oral administration of meclizine once a day or twice a day was potentially safe and well tolerated with no serious adverse events in children with achondroplasia.
Competitive Landscape:
Key players operating in the global achondroplasia market include BioMarin, RIBOMIC, Ascendis Pharma A/S, BridgeBio Pharma, Inc., Pfizer Inc., PhaseBio Pharmaceuticals, Inc., SiSaf, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, LG Chem, Ferring B.V., JCR Pharmaceuticals Co., Ltd, KVK TECH, INC., VIVUS LLC., ProLynx Inc., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Ipsen Pharma, Novartis AG, and Xiamen Amoytop Biotech Co., Ltd.
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Market Segmentation:
- Global Achondroplasia Market, By Treatment Type:
- Vosoritide
- Human Growth Hormone
- Others
- Global Achondroplasia Market, By Route of Administration:
- Oral
- Parenteral
- Global Achondroplasia Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Achondroplasia Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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