Global Achondroplasia Market - Industry Trends and Forecast to 2029

 Achondroplasia Market Analysis and Size

The global achondroplasia market is expected to witness significant growth during the forecast period. Achondroplasia is the most common form of dwarfism. The condition is known to affect 1 in 15,000 to 40,000 newborns. The severe complications or risk factors that are associated with this disease are breathing difficulties such as obesity, sleep apnea, spinal stenosis, and recurrent ear infections. This disorder does not normally affect intelligence. Mutations in the FGFR3 gene cause achondroplasia. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global achondroplasia market in the forecast period 2022-2029. The expected CAGR of global achondroplasia market is tend to be around 36.5% in the mentioned forecast period. The market was valued at USD 68.73 million in 2021, and it would grow upto USD 828.34 million by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Achondroplasia Market Scope and Segmentation

Market Definition

Arachnoiditis is also known as achondroplasia dwarfism, which is the bone growth disorder and the most common form of short-limbed dwarfism. It is largely characterized by short stature and short limbs. The genetic defect can be passed from parent to child. Although, in around 80% of instances, achondroplasia is caused by a spontaneous mutation that originates in the developing embryo. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period

Global Achondroplasia Market Dynamics

Drivers

• Increased Incidence of Achondroplasia

The growing prevalence of achondroplasia is projected to drive the market growth during the forecast period. For instance, as per the data published by the European Medicines Agency in June 2021, it is projected that 350 children are born with achondroplasia each year in Europe. This boosts the market growth.

• Increasing Drug Approvals and Launches

The increasing number of drug approvals and launches by major market players is expected to drive market growth. For example, Ascendis Pharma A/S announced on January 13, 2022, that the European Commission (EC) approved TransCon hGH as a once-weekly subcutaneous injection to treat paediatric patients experiencing growth failure due to insufficient endogenous growth hormone secretion or growth hormone deficiency. TransCon hGH contains Somatropin, which delivers unmodified Somatropin (hGH) to the body in therapeutic quantities.

Opportunities

• Higher Adoption in Oral Route of Administration

The oral segment is anticipated to dominate the segment growth during the forecast period, due to the increasing R&D activities for the oral administration of drugs for the treatment of achondroplasia. For instance, as per an article published in PLOS One in April 2020, the drug meclizine hydrochloride inhibited fibroblast growth factor receptor 3 (FGFR3) signaling in numerous chondrocytic cells and promoted longitudinal bone growth in mouse model of achondroplasia. The results stated that oral medicine administration once a day or twice a day was potentially safe and well tolerated with no adverse events in children with achondroplasia. This hampers the market growth.

• Rise in Awareness and Increased Research Activities

Increase in awareness about timely diagnosis of congenital disorders is anticipated to boost the global achondroplasia market during the forecast period. An increase in cases of achondroplasia results in a rise in R&D by companies and research institutes in clinical trials to manufacture novel therapeutics. Thus, these factors drive the market growth.

Restraints/Challenges

• High Cost

The high cost associated with the treatment process of achondroplasia  are considered to restrain the market growth. For instance, the growth hormone treatment therapy can be expensive, ranging from US$ 10,000 to US$ 60,000 per year for growth hormone treatment alone. Additionally, the list price of VOXZOGO in France under the ATU (Temporary Authorization for Use) process is 712€ (US$ 837.3 ) per vial.

• Lack of Skilled Professionals

Lack of trained professionals who are not aware of the appropriate treatment methods for this disease could restrain the growth of the global achondroplasia market  over a forecast period.

This global achondroplasia market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global achondroplasia market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Achondroplasia Market       

During the pandemic, factors such as investments in R&D of novel growth hormone products targeting achondroplasia, and funding by various companies operating in the research and development sector, were postponed, which is expected to stymie global achondroplasia market growth.

Furthermore, the COVID-19 pandemic has had an impact on ongoing clinical trials for achondroplasia, which is expected to impede the global achondroplasia market during the forecast period due to product clinical trials that have been delayed. For instance, Ascendis Pharma A/S 2019 annual report stated that the pandemic had a potential impact on the conduct of clinical trials of investigational drug candidates.

Global Achondroplasia Market Scope

The global achondroplasia market is segmented on the basis of treatment, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Treatment

• Growth Hormone Therapy
• Surgery
• Supportive Therapy
• Others

Route of Administration

• Oral
• Parenteral

End-Users

• Hospitals
• Homecare
• Speciality Centres
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Achondroplasia Market Regional Analysis/Insights

The global achondroplasia market is analysed and market size insights and trends are provided by treatment, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the global achondroplasia market report are the 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.

North America is expected to have the highest market growth due to the high-income of the countries and advanced healthcare facilities.

Asia-Pacific dominates the market due to the increase’s cases of cardiovascular diseases and  a rapidly aging population.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Achondroplasia Market Share Analysis

The global achondroplasia market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global achondroplasia market.

Key players operating in the global achondroplasia market include:

• Teva Pharmaceutical Industries Ltd (Israel)
• Mylan N.V (U.S.)
• Johnsons & Johnsons Services Inc (U.S.)
• F. Hoffman-La Roche Ltd. (Switzerland)
• Lilly (U.S.)
• Merck & Co., Inc. (U.S.)
• Aurobindo Pharma (India)
• Bristol-Myers Squibb Company (U.S.)
• GSK plc (U.K.)
• Ascendis Pharma A/S (Denmark)
• OCUGEN, INC (U.S.)
• RIBOMIC (Japan)
• QED Therapeutics, Inc (U.S.)

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