February 28, 2024

The Global Huntington’s Disease Treatment Market Is Driven By Rising Prevalence Of Huntington’s Disease

Huntington’s disease is a genetic disorder that results in the degeneration of nerve cells in the brain. The disease is characterized by involuntary jerking or writhing movements and loss of intellectual faculties and psychological turmoil. The currently available treatments focus on managing the symptoms of the disease and improving the patient’s quality of life. Drugs such as tetrabenazine help reduce jerky movements associated with Huntington’s disease. Other drugs like antidepressants help in managing mood disorders. Gene therapy and stem cell therapy are promising emerging treatment modalities currently being explored.

The global Huntington’s Disease Treatment Market is estimated to be valued at Us$ 0.55 Mn in 2024 and is expected to exhibit a CAGR Of 4.3% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the Huntington’s disease treatment market is the development of emerging therapies. Manufacturers are increasingly focusing on gene therapeutic and stem cell-based approaches to address the underlying cause of Huntington’s disease. Several players are exploring antisense oligonucleotide technologies to suppress the production of mutant huntingtin protein responsible for neurodegeneration. Companies are also developing human embryonic stem cell-based therapies engineered to deliver neurotrophic factors in the brain. If successful, these emerging modalities have the potential to slow, and possibly stop, progression of the disease.Furthermore, collaborations between industry players and research institutes aim to advance the Huntington’s disease treatment landscape through developing new drug targets and diagnostic methods.

Porter’s Analysis

Threat of new entrants: The Huntington’s disease treatment market requires extensive research and development for drugs which acts as an entry barrier for new players.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are only a few players operating in this niche market.

Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute materials and intensity of competition in the market.

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

Competitive rivalry: The competitive rivalry is high in the market as the major players are strongly focusing on developing novel treatment drugs.

Key Takeaways

The Global Huntington’s Disease Treatment Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The global Huntington’s Disease Treatment Market is estimated to be valued at US$ 0.55 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031.

Regional analysis:

 

North America dominates the global Huntington’s disease treatment market and is expected to continue its dominance over the forecast period owing to increasing prevalence of Huntington’s disease in the region. Europe is also a major market supported by availability of funds for research.

Key players:

 

Key players operating in the Huntington’s disease treatment market are Unilever Plc., Coty Inc., Johnson & Johnson Inc., Proctor & Gamble Co., L€TMOreal S.A., Revlon Inc., Kao Corporation, Avon Products Inc., Beiersdorf AG., Colgate Palmolive Company, Natura & co., and Estee Lauder Inc. These players are focusing on developing novel drugs for treatment of Huntington’s disease.

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