February 24, 2024
Huntington’s Disease Treatment Market

The Rising Incidence Of Huntington’s Disease To Openup New Avenue For Huntington’s Disease Treatment Market

Market Overview:

Huntington’s disease is a genetic disorder that causes the degeneration of nerve cells in the brain. It is characterized by abnormal body movements, emotional disorders, and loss of intellectual abilities. The major symptoms include chorea, difficulty in walking and balance issues, psychiatric and cognitive issues including dementia. The currently approved drugs for Huntington’s disease treatment include neuroleptics, antidepressants, and antipsychotics. These drugs are aimed at reducing chorea and managing behavioral symptoms like depression, irritability and psychosis. However, there is no cure available for the disease currently. Growing initiatives by governments and non-profit organizations to spread awareness and provide support to patients are driving the growth of the Huntington’s disease treatment market.

The global Huntington’s Disease Treatment Market is estimated to be valued at US$ 0.47 Bn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the Huntington’s disease treatment market is increasing research on gene silencing therapy. Gene silencing or antisense oligonucleotide therapy aims to silence the huntingtin gene expression by blocking the production of the abnormal HTT protein. The approach holds promise for disease-modifying treatment. Major companies like Ionis Pharmaceuticals, Roche and Wave Life Sciences are conducting clinical trials of innovative gene-silencing drugs for Huntington’s disease treatment. Another important trend is the focus on the development of new drug classes like HDAC inhibitors and PDE10A inhibitors. Drugs such as RG6042 by Roche and ABBV-957 by AbbVie aim to alter the disease pathology and provide neuroprotective benefits for patients.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low in the Huntington’s disease treatment market due to high R&D costs and stringent regulatory requirements for drug approval.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of alternative treatment options for Huntington’s disease.

Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the presence of several drug manufacturers and service providers in the market.

Threat of new substitutes: The threat of new substitutes is low as there are limited treatment options currently available for Huntington’s disease.

Competitive rivalry: High due to the presence of many global and regional players competing based on drug pipeline and portfolio strength.

Key Takeaways

The Global Huntington’s Disease Treatment Market Size is expected to witness high growth, exhibiting a CAGR of 20% over the forecast period, due to increasing R&D investments by pharmaceutical companies and rising prevalence of Huntington’s disease.

The North America region is expected to dominate the global Huntington’s disease treatment market during the forecast period. This is attributed to the presence of major market players and availability of advanced healthcare facilities in the region. Europe is also anticipated to hold a significant share in the market due to rising focus on rare disease treatment.

Key players operating in the Huntington’s disease treatment market are Teva Pharmaceutical Industries Ltd (Israel), Amneal Pharmaceuticals LLC. (U.S.), Elekta AB (Sweden), Alnylam Pharmaceuticals, Inc(U.S.), Apotex Inc (Canada), Armata Pharmaceuticals, Inc.(U.S.), Pfizer Inc (U.S.), H. Lundbeck A/S (Denmark), Alterity Therapeutics (Australia)., Vertex Pharmaceuticals Incorporated (U.S.), SK Plc. (U.K.), Ceregene, Inc (U.S.). SOM BIOTECH (Spain), Palobiofarma (Spain), and Ipsen Pharma (France).

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it