SEATTLE, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global ataxia treatment market is estimated to be valued at US$ 30,880.5 million in 2021 and is expected to exhibit a CAGR of 9.4% over the forecast period (2021-2028).
Key Trends and Analysis of the Global Ataxia Market:
Key trends in the market include increasing incidence of ataxia, rapid research in the field of ataxia therapeutics, and increasing collaborations and acquisitions among key players. These key trends are expected to aid in growth of the global ataxia market.
For instance, according to the National Organization for Rare Disorders (NORD) database published in 2018, the global prevalence of Friedreich’s ataxia (FRDA), a type of ataxia is estimated to be approximately one in 40,000 people as of 2018.
Moreover, rapid research in the field of ataxia therapeutics is expected to drive the market growth over the forecast period. For instance, in August 2018, the Clinical Research Consortium for Spinocerebellar Ataxias (CRC-SCA) initiated a NIH (National Institute of Health, U.S.) funded five-year project to evaluate the status of clinical trials in the field of Spinocerebellar ataxias (SCA) and develop novel therapeutics for the treatment of SCA I and SCA II. This study is expected to be completed by December 2022.
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Furthermore, key players operating in the global ataxia market are focusing on adoption of inorganic growth strategies such as acquisitions and collaborations, in order to expand their market presence in the global market. For instance, in June 2021, Capsida Biotherapeutics Inc., a U.S. based biotechnology company collaborated with CRISPR Therapeutics, a Switzerland based biopharmaceutical company to research, develop, manufacture and commercialize novel gene editing therapies for the treatment of Friedreich’s ataxia and familial amyotrophic lateral sclerosis (ALS).
Key Market Takeaways:
The global ataxia market is expected to exhibit a CAGR of 9.4% over the forecast period, owing to rapid research for development of diagnostics and treatments for ataxia. For instance, in November 2019, University Hospital, Montpellier initiated an observational study to validate a clinical algorithm for diagnosis of recessive cerebellar ataxias (ARCA) on the basis of next generation sequencing techniques and this study is expected to be completed by December 2021.
Among treatment type, pharmacotherapy segment is expected to account for largest market share in 2021, owing to market players focusing on getting approvals for drugs which can be used for treatment of ataxia. For instance, in January 2020, Cadent Therapeutics, a U.S. based biotechnology company focusing on neurological disorders announced the approval of IND (investigational new drug) from the U.S. Food and Drug Administration (FDA) for investigational drug CAD-1883, indicated for the treatment of spinocerebellar ataxia (SCA).
Competitive Landscape:
Key players operating in the global ataxia market include Pfizer Inc., CRISPR Therapeutics, Acorda Therapeutics, Capsida Biotherapeutics Inc., Larimar Therapeutics, Inc., Healx, Intellia Therapeutics, Inc., Editas Medicine, bluebird bio, Inc., Sanofi, Merck & Co., Inc., H. Lundbeck A/S, Cellectis SA, Bio-Techne, GlaxoSmithKline plc, and Allergan.
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Market Segmentation:
- Global Ataxia Market, By Treatment Type:
- Pharmacotherapy
-
- Levodopa
- Pramipexole
- Desvenlafaxine
- Venlafaxine
- Others (Acetazolamide, Scopolamine, Buspirone, Tizanidine, etc.)
-
- Physical Therapy
- Speech Therapy
- Others (Adaptive Devices and Occupational Therapy)
- Global Ataxia Market, By Disease Type:
- Friedreich's Ataxia
- Ataxia-telangiectasia
- Spinocerebellar Ataxias
- Episodic Ataxia
- Others (Multiple System Atrophy (MSA))
- Global Ataxia Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Ataxia 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 Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
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