Increasing population and surge in demand for advanced drug types for controlling the symptoms associated with Huntington's drive the growth of the global Huntington's disease treatment market.
PORTLAND, Ore., Sept. 20, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Huntington's Disease Treatment Market by Drug type (Approved drugs, Offlabel drugs), by Age (Below 50 years, Above 50 years), by Distribution channel (Hospital pharmacies, Drug store and retail pharmacies, Online pharmacies): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global Huntington's disease treatment industry was estimated at $315.2 million in 2021, and is anticipated to hit $707.5 million by 2031, registering a CAGR of 8.4% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.
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Determinants of growth-
Increasing population and surge in demand for advanced drug types for controlling the symptoms associated with Huntington's drive the growth of the global Huntington's disease treatment market. On the other hand, certain complications associated with Huntington's disease treatment impede the growth to some extent. However, rise in demand for advanced disease treatment has created lucrative opportunities in the industry.
Impact of Covid-19 on Huntington's Disease Treatment Market-
- The majority of the hospitals across the globe were restructured to increase hospital capacity for patients diagnosed with Covid-19, and the non-essential procedures took a potential backlog, owing to rapidly rising Covid-19 cases.
- Furthermore, other factors responsible for the impact on the market include limited availability of medical care and shortage of healthcare staff had a negative impact on the global Huntington's Disease Treatment market.
The approved drugs segment to maintain the lion's share-
By drug type, the approved drugs segment contributed to more than four-fifths of the global Huntington's disease treatment market share in 2021, and is expected to lead the trail by 2031. The same segment is also expected to exhibit the fastest CAGR of 8.5 % from 2022 to 2031. This is due to growing demand for effective treatments and rapid development of other disease-modifying drugs.
The below 50 years segment to dominate by 2031-
By age, the below 50 years segment garnered more than half of the global Huntington's disease treatment market share in 2021, and is expected to retain its dominance by 2031. The same segment is also expected to exhibit the fastest CAGR of 8.6% from 2022 to 2031, owing to higher incidence of diseases in this age group.
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North America garnered the major share in 2021-
Based on region, North America held the major share in 2021, generating more than two-fifths of the global Huntington's disease treatment market. This is attributed to technological advancements in Huntington's disease treatment and the presence of key players across the region. The Asia-Pacific region, simultaneously, would cite the fastest CAGR of 9.2% throughout the forecast period. Rise in patient population, development of healthcare infrastructure, and increase in investments projects in the province fuel the market growth.
Key players in the industry-
- Bausch Health Companies Inc.
- Eli Lilly And Company
- Hikma Pharmaceuticals PLC
- Lupin
- Medesis pharma SA
- Annexon Biosciences
- Vaccinex, Inc.
- Mitochon Pharmaceuticals
- Neurocrine bioscience Inc.
- Dr.Reddy's Laboratories Ltd
- Novartis
- PTC Therapeutics, Inc.
- SOM Biotech
- Sun Pharmaceuticals
- Teva Pharmaceuticals Industries Ltd.
- UniQure
The report analyzes these key players in the global Huntington's disease treatment market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
Official Press Release- https://www.alliedmarketresearch.com/press-release/huntington%E2%80%99s-disease-treatment-market.html
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