Seattle, Jan. 28, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global infantile spasm treatment market was valued at US$ 111.1 million in 2017 and is projected to exhibit a CAGR of 3.1% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Infant Spasm Treatment Market:
Key trends such as strong product pipeline, launch of new generic versions of drugs, government initiatives for rare disease treatment, and increasing prevalence of prenatal cause such as central nervous system (CNS) infection is expected to boost the market growth.
Request Sample Copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/2453
Government is actively taking initiatives for rare disease treatment. For instance, Infantile Spasms Awareness Week (ISAW) by Epilepsy Foundation, co-lead by Child Neurology Foundation and Tuberous Sclerosis Alliance, is conducted each year to educate parents, physicians, and other healthcare providers about infantile spasm and its treatment. Moreover, the U.S. FDA has provision to allot orphan drug status, in order to speed up the drug development process. Relapse or reoccurrence of infantile spasm is expected to boost the market growth. According to studies conducted by Riikonen et al., the relapse rate after second course of ACTH was around 23% among the patients.
Moreover, key players operating in the market are focused on launching cost-effective new generic versions of existing drugs. For instance, Aucta Pharmaceuticals and Upsher-Smith Laboratories, LLC launched vigabatrin for oral solution under the brand name Vigadrone in July 2018, which is another generic version of vigabatrin (Sabril).Strong product pipeline is also driving the market growth. As of 2018, there were around 5 novel drug candidates in development. 60% of these drugs are in phase III of development, which are expected to enter the market in the near future.
However, lack of proper diagnosis of infantile disease and poor disease understanding are the major restraints affecting the market growth. Epilepsy Action states that in 9 out of 10 children with the condition, infantile spasms occur in the first year of life, typically between 3 and 8 months old. Seizures lasts for few seconds, which may result in intellectual disability, autism, and death. Unlike diseases affecting large patient populations, rare and orphan diseases are difficult to fully understand, thus making the development of drugs for rare diseases is a fundamental challenge for pharma companies. Moreover, only few scientific literature about rare diseases are published, thus limiting awareness of the disease. High cost of treatment is expected to restrain the market growth. For instance, in June 2014, Questcor acquired the rights to market Synacthen in Canada and Europe. Questcor had previously acquired marketing rights in the U.S. for a natural ACTH product, H.P. Acthar Gel and raised the price of the medication from around US$ 50 per vial to US$ 28,000 per vial of 5 ml.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/infantile-spasm-treatment-market-2453
Key Market Takeaways:
- The global infantile spasm treatment market is expected to exhibit a CAGR of 3.1% during the forecast period (2018 – 2026), attributed to strong product pipeline. For instance, as of 2018, there were around 5 novel drug candidates in development. 60% of these drugs are in phase III of development, which are expected to enter the market in the near future.
- Market growth is attributed to launch of new generic versions of existing drugs to lower the treatment cost. For instance, in May 2018, Amneal Pharmaceuticals launched vigabatrin for oral solution USP, which is a generic equivalent for Sabril. This is the second generic vigabatrin product available in the market.
- Key players in the market are focused on adopting mergers and acquisition strategies to enhance their product portfolio, which in turn is expected to propel the market growth over the forecast period. For instance, Acthar, which is corticotropin branded product from Mallinckrodt pharmaceutical, costs around US$ 125,000 per patient, i.e. US$ 28,000 per dose according to Harvard Law School’s bill of health blog published in 2013.
- Key players operating in the global infantile spasm treatment market include H. Lundbeck A/S, Mallinckrodt Pharmaceuticals, Catalyst Pharmaceuticals, GW Pharmaceuticals plc, Retrophin, Inc., Valerion Therapeutics, Orphelia Pharma SA, Insys Therapeutics, Inc., and Anavex Life Sciences Corp.
Request for Report Customization
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.