by Charcot-Marie-Tooth disease (CMT), which is also known as hereditary motor and sensory neuropathy, is a group of inherited neuropathies that cause damage to the nerves that control movement. It is one of the most commonly inherited neurological disorders. There are several types of CMT categorized based on genetic and electrophysiological findings. The most common sign and symptoms of CMT include weak leg, foot, and hand muscles that can cause trouble with walking, running and grasping objects. Currently, there is no cure for CMT but existing treatment options aim to manage symptoms and improve quality of life. These include physical therapy, stretching and orthopedic devices for foot and leg problems. The pharmaceutical industry is focusing on development of new drug therapies for CMT such as neurotrophic factors, antioxidants, and gene therapies.
The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1208.92 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
There is higher research and development focus on development of novel drug therapies for CMT. Some key pipeline drugs in clinical trials include AGN-172514 by Addex Therapeutics, bimagrumab by Bristol-Myers-Squibb and PXT-3003 by Pharnext. These investigational therapies aim to slow down or halt progression of CMT by targeting underlying disease mechanisms. Further, development of gene therapy approaches could also help address genetic CMT types in the future. Growing awareness about CMT as a treatable inherited neuropathy is also leading to higher diagnosis rates globally. This is expected to drive uptake of existing and new treatment options over the forecast period.
Porter’s Analysis
Threat of new entrants: Low-moderate due to need for large investments in R&D activities and high competition from established players.
Bargaining power of buyers: Moderate-high due to presence of alternative treatment options like physical therapy and medication.
Bargaining power of suppliers: Low as raw material suppliers have less control over pricing due to availability of substitutes.
Threat of new substitutes: Moderate as alternative treatment options provide partial relief from symptoms.
Competitive rivalry: High level of competition exists among key players to commercialize novel therapies.
Key Takeaways
The Global Charcot-Marie-Tooth Disease Market Size is expected to witness high growth. The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1208.92 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030.
North America is expected to dominate the market during the forecast period. Higher awareness regarding CMT and strong healthcare infrastructure are factors supporting the growth of this region. The Asia Pacific region is anticipated to grow at the fastest rate owing to increasing patient pool and rising healthcare expenditure.
Key players operating in the Charcot-Marie-Tooth Disease market are Addex Therapeutics Ltd., Affectis Pharmaceuticals AG, Genzyme Corp, Lead Discovery Center GmbH, Pharnext SA, Acceleron Pharma, MedDay Pharmaceuticals, Bristol-Myers-Squibb Company, Inflectis Bio Science Health Company, Helixmith Co., Ltd., and Neurogene Inc. Addex Therapeutics and Pharnext are focusing on developing novel treatment options for CMT through clinical trials.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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