Dublin, May 28, 2024 (GLOBE NEWSWIRE) -- The "Global Friedreich's Ataxia Market" report has been added to ResearchAndMarkets.com's offering.
The global Friedreich's ataxia market accounted for USD 0.881 billion in 2023 and is expected to reach at USD 3.39 billion by 2034 with a CAGR of 13.04% during the forecast period 2024-2034. The market will grow as a result of the increasing frequency of genetic disorders, new treatment options and technological advancements, growing government support for rare illnesses, and partnerships and collaborations.
By drug class, the beta-blockers and ACE inhibitors segment accounted for the highest revenue-grossing segment in the global Friedreich's ataxia market in 2023 owing to the growing recognition of their potential to manage cardiac complications, a prevalent concern in Friedreich's ataxia patients, driving increased adoption and demand for these therapies. For instance, in October 2023, Pfizer announced the start of a Phase 2/3 research to assess the safety and effectiveness of PF-338015 in individuals with Friedreich's ataxia. Additionally, the others segment is predicted to grow at the fastest CAGR during the forecast period owing to the emergence of novel therapeutic approaches, including gene editing technologies and RNA-based therapies, offering potential disease-modifying treatments beyond conventional options.
By route of administration, the oral segment accounted for the highest revenue-grossing segment in the global Friedreich's ataxia market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the convenience, improved patient compliance, and ongoing research into oral formulations of existing and novel therapies, driving increased adoption and market growth. For instance, in February 2024, Voyager Therapeutics announced the start of IND-enabling research for VY-M1, a possible gene treatment for Friedreich's ataxia.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global Friedreich's ataxia market in 2023 owing to the increased prevalence of severe cases requiring specialized care and access to comprehensive treatment options typically available at hospital pharmacies, driving higher revenue generation in this segment. For instance, in October 2023, at the 15th International Ataxia Research Conference, Ionis Pharmaceuticals presented findings from the Phase 1/2 research of ION449 in individuals with Friedreich's ataxia. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing trend towards telemedicine, convenience, and accessibility, facilitating easier access to medications for Friedreich's ataxia patients regardless of geographic location, driving rapid growth in online pharmacy sales.
North America is anticipated to have the highest revenue share during the forecast period owing to the presence of advanced healthcare infrastructure, robust research and development activities, favorable regulatory environment, and higher prevalence of Friedreich's ataxia cases compared to other regions, driving the dominance of North America in the market. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness, improving healthcare infrastructure, rising healthcare expenditure, and growing investments in research and development, driving accelerated growth of the Friedreich's ataxia market in the Asia Pacific region. For instance, in October 2023, BioMarin reported encouraging interim results from the ongoing Phase 1/2 research of BMN 290, a possible gene therapy for Friedreich's ataxia.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Friedreich's Ataxia Market Analysis & Forecast by:
Drug Class 2023 - 2034 (Revenue USD Bn)
- ACE Inhibitors
- Beta Blockers
- Diuretics
- Para-Benzoquinone
- Vitamin E
- Immunomodulators
- Skeletal Muscle Relaxants
- Anti- Epileptic Drugs
- Others
Route of Administration 2023 - 2034 (Revenue USD Bn)
- Oral
- Injectable
Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Companies Featured
- Reata Pharmaceuticals Inc.
- Pfizer Inc.
- BioMarin Pharmaceutical Inc.
- Retrotope Inc.
- Voyager Therapeutics Inc.
- Agilis Biotherapeutics LLC (a subsidiary of PTC Therapeutics)
- Sanofi Genzyme
- Ionis Pharmaceuticals Inc.
- NeuroSense Therapeutics Ltd.
- Taiho Pharmaceutical Co. Ltd.
- Cardero Therapeutics Inc.
- Minoryx Therapeutics S.L.
- Astellas Pharma Inc.
- Censa Pharmaceuticals Inc.
- Evotec SE
For more information about this report visit https://www.researchandmarkets.com/r/xmjdpb
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