Symptomatic Huntington’s disease Treatment Will Be The Most Sought after Accounting For 98% Revenue

In 2021, the global Huntington’s disease treatment market was pegged at US$ 360 Mn and is projected to grow at a CAGR of 20% from 2022-2032. According to a recently published Fact.MR report, it is estimated that the market will reach US$ 2.7 Bn by 2032.

Due to the global COVID-19 pandemic, the market’s growth rate slowed to 7% from 2019 until mid-2020. Online pharmacies were selling off-label drugs to manage symptoms of HD during the COVID-19 pandemic, such as antipsychotics, antidepressants, and anticonvulsants. As a result of the government-imposed blackout, clinical trials were delayed during the COVID-19 pandemic.

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The market is predicted to grow at a y-o-y rate of 6.5% between 2022 and 2023. As of the second quarter of 2021, most hospitals and clinics worldwide reported an increase in the frequency of clinical visits for HD diagnosis and treatment. Ingrezza’s expected expansion of its label to include chorea associated with Huntington’s disease. This is due to the high incidence of Huntington’s disease in western countries. These are anticipated to be major market drivers.

Key Takeaways from the Market Study

  • Huntington’s disease treatment market is expected to reach US$ 432 Mn by 2022
  • Asia Pacific is expected to witness rapid growth for Huntington’s disease treatment, with 45% of revenue share
  • Symptomatic Huntington’s disease treatment will be the most sought after accounting for 98% revenue
  • North America to account for 77% of the global market for the treatment of Huntington’s disease
  • Disease modifying therapies accumulated US$ 4.2 Bn by 2021, expected to flourish at a 9.1% CAGR until 2032

Rising prevalence of rare genetic disorders amongst the urban population has increased the incidence of Huntington’s disease, with key healthcare stakeholders attempting to discover novel therapeutic approaches, providing a platform for manufacturers to expand their influence in the global market, says a Fact.MR analyst.

Attributes Details
Estimated value of the Huntington’s Disease Treatment Market in 2021 US$ 360 Mn
Projected value of the Huntington’s Disease Treatment Market in 2022 US$ 432 Mn
Projected value of the Huntington’s Disease Treatment Market in 2032 US$ 2.7 Bn
CAGR during the forecast period, 2022-2032 20%
Market Share North America Expected During 2022 77%

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Competitive Landscape

In order to gain a significant share of the market, key players are focusing on new product development and partnerships.

  • In September 2021, Spark Therapeutics, Inc. (a subsidiary of F Hoffmann La Roche Ltd) will form a partnership with NeuExcell Therapeutics Inc to develop gene therapy for treating HD patients. As part of the deal, NeuExcell Therapeutics will receive upfront license fees, R&D milestone payments, and product royalties of up to approximately USD 190 Mn.
  • Teva Pharmaceutical Industries Ltd’s Austedo, a drug intended to treat chorea associated with HD, has received approval from the National Medical Products Association (NMPA) in China in May 2020. With AUSTEDO’s approval in China, the company expects to expand its patient base and revenue.
  • To present phase 3 results for candidate pridopidine at the HC Walkewright 23rd Annual Global Investment Conference, the Cantor Virtual Global Healthcare Conference, and the European Huntington Disease Network, Prilenia Therapeutics BV announced its participation in September 2021. A healthcare conference is a worthwhile opportunity to expand your customer base.

Key Players Offering Treatment for Huntington’s Disease

  • Lundbeck A/S
  • Bausch Health Companies Inc.
  • Hetero Drugs
  • Lupin Limited
  • Hikma Pharmaceuticals Plc.
  • Roddy’s Laboratories Ltd.
  • Sun Pharmaceutical Industries Ltd.

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Key Segments Covered in the Huntington’s disease Treatment Industry Survey

  • By Treatment
    • Symptomatic Treatment of Huntington’s disease
    • Disease-Modifying Therapies for Huntington’s disease

Why is the disease-modifying therapies segment gaining preference?

The disease-modifying therapies segment is expected to grow at the fastest rate over the forecast period. An increasing demand for advanced products, such as gene therapy and stem cell therapy, along with an increase in research and development for disease-modifying therapy are responsible for this growth. The government’s Fast Track Designation program by the US FDA could lead to accelerated registration processes, fueling the market in the years to come.

As an example, the US Food and Drug Administration granted fast track designation in September 2021 to Sage Therapeutics’s candidate drug, SAGE-718, as a potential treatment for Huntington’s disease. IQVIA predicts significant growth in US sales of tetrabenazine tablets 12.5 mg and 25 mg in the forecast period of 2022- 2032. The disease-modifying therapies segment was valued at US$ 4.2 Bn in 2021 and is projected to reach US$ 9.83 Bn by 2032, growing at a CAGR of 9.1%.

Check Out More Related Studies Published By Fact.MR Research: https://www.prnewswire.com/news-releases/medical-suction-devices-market-to-register-4-cagr-as-installation-of-ac-powered-machines-surges-in-emergency-care-settings-301632917.html

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