Growing Awareness Among the Patients Pertaining to the Available Treatment Options is Bolstering the growth of the Global Ataxia Market

Hereditary cerebellar ataxias (HCA) and hereditary spastic paraplegias (HSP) are two types of neurodegenerative illnesses that cause increasing gait impairment and can lead to permanent disability. In recent decades, advances in genetic science have improved their diagnosis and opened up new avenues for prevention and treatment.

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The global ataxia market is expected to reach USD  36,900.18  thousand by 2029 from USD 34.48 thousand in 2021, growing at a CAGR of 6.9% in the forecast period of 2022 to 2029. Increasing demand for advanced medical technologies for diagnostic and treatment purposes and the growing incidence rate of acute and chronic diseases are some of the drivers boosting the growth of the market. Rising incidence rate of ataxia, increasing awareness about the availability of treatment options in the developing economies and rising personal disposable income are some other important market growth determinants.

Increasing prevalence and incidences of ataxia is expected to drive the market's growth rate

Thereby, the incidence and prevalence of ataxia keep increasing, and the disease has been widely recognized as a major clinical problem worldwide, carrying high morbidity and mortality burden. Hence, increasing prevalence and incident rates of ataxia affecting different age groups may drive the global ataxia market. This in turn will act as an important market growth determinant. Increased expenditure by public and private players on the development of healthcare infrastructure will also promote the market growth rate. Continuous research and development pertaining to the deployment of advanced healthcare technologies will yet again widen the scope of growth.

Report Scope and Market Segmentation

Segment Analysis:

The global ataxia market is categorized into seven notable segments such as type, product, dosage form, route of administration, patient type, end user, and distribution channel.

• On the basis of type, the global ataxia market is segmented into spinocerebellar ataxias, ataxia-telangiectasia, episodic ataxia, and others (multiple system atrophy (MSA)). In 2022, the Spinocerebellar Ataxias segment is expected to dominate the global ataxia market with 84.05% market share due to the high prevalence of this type of ataxia amongst the population in various regions.
• On the basis of product, the global ataxia market is segmented into treatment and diagnosis. In 2022, the treatment segment is expected to dominate the global ataxia market with 60.67% market share as the need for the treatment of this disease has increased in recent times.
• On the basis of dosage form, the global ataxia market is segmented into solid, liquids, and others. In 2022, the solid segment is expected to dominate the global ataxia market with an 85.25% market share due to the high convenience of consuming drugs in this form.
• On the basis of route of administration, the global ataxia market is segmented into oral, parenteral, and others. In 2022, the oral segment is expected to dominate the global ataxia market with 86.40% market share as this route is highly effective for the administration of the drug due to the fast metabolism rate.
• On the basis of patient type, the global ataxia market is segmented into adult, child, and geriatric. In 2022, the adult segment is expected to dominate the global ataxia market with 66.74% market share due to the prevalence of ataxia disease is seen as high in the adults, both male and female.

Adult is expected to dominate the patient type segment in the global ataxia market

In 2022, the adult segment is expected to dominate the global ataxia market with 66.74% market share due to the prevalence of ataxia disease is seen as high in the adults, both male and female. Adult population is more susceptible towards developing ataxia and this has widened the scope of growth for the market.

• On the basis of end users, the global ataxia market is segmented into hospital, clinics, home healthcare, and others. In 2022, the hospital segment is expected to dominate the global ataxia market with 55.41% market share because of the availability of reimbursement for major market products and facilities available in the hospitals.

Hospitals is expected to dominate the end users segment in the global ataxia market

Rising number of hospitals and clinics all especially in the developing economies has emerged as a major factor responsible for bolstering the growth of this segment. The hospitals segment is projected to hold more than 55% of the total end user segment share. This is because of the rising awareness about the availability of treatment options and increasing incidence rate of chronic diseases globally. 

• On the basis of distribution channel, the global ataxia market is segmented into direct tender, retail sales, and others. In 2022, the direct tender segment is expected to dominate the market as this option is mostly utilized by large channel hospitals and diagnostic centers in major regions for purchasing drugs for ataxia treatment.

Major Players

Data Bridge Market Research recognizes the following companies as the major ataxia market players in advanced wound care market are Priory. (U.K.), Banner Health (U.S.), ATI Physical Therapy (U.S.), Merck KGaA (Germany), Cipla Inc. (U.S.), Aurobindo Pharma. (India), Sanofi (France), and Viatris Inc. (U.S.).

• In April 2021, Healx launched a partnership with Ataxia UK, the leading charity in the United Kingdom for people suffering from ataxia, and Friedreich’s Ataxia Research Alliance (FARA), a non-profit organization in the United States, to find treatments for rare neurodegenerative conditions, including ataxia.
• In October 2021, Merck KGaA completed gene therapy's new viral vector contract development manufacturing facility. Gene therapies are usually very helpful for rare disease diagnoses such as ataxia.
• Pfizer Inc. announced the completion of its acquisition of Arena Pharmaceuticals in November 2022. It's a clinical-stage startup working on novel possible therapeutics for a variety of immuno-inflammatory illnesses. With this acquisition, the company has been able to expand its product offering.
• 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).

Regional Analysis

Geographically, the countries covered in the ataxia market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in ataxia market during the forecast period 2022 - 2029

North America is dominating the global ataxia market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. The U.S. is dominating due to the presence of major market players which provide the wide drug portfolio and well-developed healthcare infrastructure in this region. Also, existence of advanced healthcare technologies in this region is another reason for this region’s dominance in the global market.  

Asia-Pacific is estimated to be the fastest growing region in ataxia market the forecast period 2022 - 2029

Asia-Pacific is expected to grow during the forecast period due to the increasing patient population and rapid development of infrastructural facilities in emerging economies in this region. In addition to this, rising level of private and public expenditure on the development of healthcare industry infrastructure in the developing and backward economies and increasing per-capita income are expected propel the market's growth rate in this region. Also, increasing geriatric population base, surging incidence rate of chronic and acute disorders and diseases and rising medical tourism are some other important market growth determinants.

COVID-19 Impact Analysis

The COVID-19 has a negative impact on the market. During pandemic, lockdowns and isolation have raised market demand to reduce virus contamination. Major industry participants have introduced numerous new products and services to the market. Social isolation resulting in postponing of the healthcare procedures, which has resulted in lowering the growth rate of the market demand during the epidemic.  However, due to the enormous immediate increase in utilization, telehealth organizations may experience difficulties handling loads, as well as technological issues and IT crashes, necessitating sophisticated mobility solutions. As a result, telehealth organizations have a fantastic chance to comprehend and analyze these difficulties, as well as deal with them.

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