Dublin, April 15, 2024 (GLOBE NEWSWIRE) -- The "5-Alpha Reductase Deficiency Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The 5-alpha reductase deficiency market size has grown strongly in recent years, growing from $1.29 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historical period can be attributed to several factors, including investments in research and development, the regulatory landscape influencing healthcare practices, the development and improvement of healthcare infrastructure, increased awareness and educational efforts, and expanded health insurance coverage. These combined elements have played a significant role in shaping the growth trajectory within the specified historic period.
The 5-alpha reductase deficiency market size is expected to see continued growth in the next few years, reaching $1.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated growth in the forecast period can be attributed to various factors, including innovations in therapeutics, advances in genetic research, the emergence of precision medicine, global health initiatives, and the integration of gene therapies. Significant trends expected in the forecast period encompass advancements in treatment options, diagnostic innovations, the adoption of patient-centric approaches in healthcare, developments in the regulatory landscape, and considerations related to market access and affordability.
The escalating number of research and development endeavors in genomics is significantly contributing to the growth trajectory of the 5-alpha reductase deficiency market. Genomics, involving the comprehensive study of an individual's entire genome, including the interplay between genes and their environment, serves as a pivotal tool in diagnosing 5-alpha reductase deficiency by pinpointing specific genetic mutations responsible for the condition. Consequently, the surge in research and development activities within genomics is poised to play a crucial role in not only uncovering but also treating this disorder. As detailed in the 'Accelerating Access to Genomics for Global Health' report by the World Health Organization (WHO) in July 2022, the percentage of nations equipped to perform genomic surveillance surged from 54% to 68% between March 2021 and January 2022. Therefore, the burgeoning research and development efforts in genomics are forecasted to be a primary driver propelling the 5-alpha reductase deficiency market.
The mounting prevalence of genetic and rare diseases stands poised to propel the growth trajectory of the 5-alpha reductase deficiency market in the forthcoming years. Genetic and rare diseases, arising from alterations in an individual's genes and being uncommon within the general populace, highlight the intricate role of genetic factors in human development, especially concerning sexual differentiation, exemplified by 5-alpha reductase deficiency. As noted in November 2022 by the Australian Government Department of Health, approximately 7,000 rare illnesses, either fatal or severely disabling, exist. These rare diseases impact about 8% of Australians, totaling around 2 million individuals, with roughly 80% being genetic in nature. Consequently, the escalating prevalence of genetic and rare diseases constitutes a pivotal factor propelling the 5-alpha reductase deficiency market.
The emergence of innovative genetic testing methodologies for diagnosing rare diseases constitutes a key trend in the 5-alpha reductase deficiency market. Leading entities operating within this domain are directing their efforts toward developing pioneering genetic testing solutions that efficiently diagnose rare conditions such as 5-alpha reductase deficiency, particularly in their nascent stages. These advancements in diagnostics not only offer a competitive advantage to major market players but also enhance their position in the market.
The primary diagnostic methods for 5-alpha reductase deficiency include chromosome analysis, gene sequencing, hormone tests, imaging tests, and genetic screening, among others. Chromosome analysis is employed to determine the patient's chromosomal makeup, distinguishing between XX (Female) and XY (Male) chromosomes. Various treatments are available for 5-alpha reductase deficiency, including surgery, vaginoplasty, feminizing genitoplasty, hormone replacement therapy, and other interventions. End-users of these treatments include hospitals, specialty clinics, and other medical facilities.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Report Scope
Markets Covered:
- By Diagnosis: Chromosome Analysis; Gene Sequencing; Hormone Tests; Imaging Tests; Genetic Screening; Other Diagnosis
- By Treatment: Surgery; Vaginoplasty; Feminizing Genitoplasty; Hormone Replacement Therapy; Other Treatments
- By End-Users: Hospitals; Specialty Clinics; Other End-Users
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Companies Profiled:
- Merck
- F. Hoffmann-La Roche
- Sanofi
- Pfizer
- GlaxoSmithKline
- Novartis
- Bayer
- Eli Lilly
- Alma Lasers
- Viveve Medical
- Fotona
- Almirall
- Hologic
- Gilead Sciences
- Johnson & Johnson Services
- Mallinckrodt Pharmaceuticals
- Mylan
- Novo Nordisk
- Regeneron Pharmaceuticals
- Roivant Sciences
- Sanofi Genzyme
- Shionogi & Co.
- Sun Pharmaceutical Industries
- Takeda Pharmaceutical Company
- Teva Pharmaceutical Industries
- UCB
- Vertex Pharmaceuticals
- Zoetis
- Cadila Healthcare
- Endo International
For more information about this report visit https://www.researchandmarkets.com/r/ockt3x
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