April 24, 2024

Charcot-Marie-Tooth Disease Market Growth to be fuelled by Rising Drug Approvals and Increasing Diagnosis Rates

Symptoms usually begin in the first two decades of life with altered sensation in the feet and lower legs. Over time, the condition leads to weakening of leg, forearm and hand muscles. Devices such as ankle-foot orthoses and leg braces are commonly used to improve mobility.

The Global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1392.68 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Charcot-Marie-Tooth Disease Market Size are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, Dr├Ągerwerk AG & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. These players are involved in developing drugs and devices for CMT disease management.

There exist significant opportunities for pharmaceutical companies in developing drugs for orphan CMT indications like CMT4J and HNPP which currently have no treatment options. Devices market is also poised to grow rapidly with innovations in knee-ankle-foot orthoses and myoelectric prosthetics.

Rising diagnosis rates, newborn screening programs and drug approvals are expected to drive the CMT disease market during the forecast period. In 2021, the FDA approved Viltepso (viltolarsen) injection for the treatment of CMT1A in patients aged 2 years and older. Advances in genetic testing technologies are enabling early and accurate diagnosis of various CMT subtypes.

Market Drivers
Growing awareness about CMT disease symptoms and management among physicians as well as patients is a major market driver. Increasing research funding from government and private organizations is facilitating drug development for rare orphan CMT types. Launch of novel drugs with improved safety and efficacy profiles compared to existing treatment options is anticipated to boost the market growth over the next few years.

Current challenges in Charcot-Marie-Tooth Disease market:

There are significant challenges in the Charcot-Marie-Tooth disease treatment landscape. Currently, the disease management mainly focuses on supportive therapies to relieve symptoms. However, there is no approved drug available to halt or reverse the progression of the condition. The exact pathogenesis is yet to be fully understood. This lack of complete understanding of the disease pathophysiology hinders the development of effective therapies. Due to the heterogeneity in genetic subtypes, it is difficult to identify drug targets. Moreover, designing adequate clinical trials to assess treatment efficacy poses practical and ethical challenges considering the rarity and complexity of the disease.

SWOT Analysis
Strength: Growing research and clinical trials for developing disease-modifying drugs. Several biotech companies focusing on gene and cell-based therapies.

Weakness: Limited understanding of disease mechanisms. Heterogeneity based on genetic subtypes makes drug development complex.

Opportunity: High unmet need opens up scope for novel therapies. Several ongoing research studies exploring gene therapy, antisense oligonucleotides, and neurotrophic factors hold promise.

Threats: Expensive drug development process. Challenges in patient recruitment due to the rare disease nature. Potential side effects and safety issues of experimental therapies.

The United States currently dominates the Charcot-Marie-Tooth Disease market in terms of value, owing to the strong presence of biopharmaceutical companies and growing clinical research activities. Europe is the second largest regional market led by countries such as Germany, France, and the UK. The Asia Pacific region is poised to showcase the fastest CAGR over the forecast period due to rising healthcare spending, increasing awareness about rare diseases, and growing focus of global players on emerging Asian markets.

Geographically, the North American region holds the major share of the Charcot-Marie-Tooth Disease treatment market currently. However, the Asia Pacific region is estimated to register the highest CAGR during the forecast period due to rising healthcare expenditure, large patient population, and increasing focus of key market players on emerging Asian countries.

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