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The global Wilson's disease drugs market size is estimated to grow by USD 179.97 million at a CAGR of 6.32% between 2022 and 2027.
One of the driving factors for the growth of the market is growing awareness among individuals about the treatment of Wilson's disease. Many people come to the clinic complaining of abdominal pain, light-colored stools, dark-colored urine, jaundice, anxiety and depression, disturbed thoughts and emotions, mood swings, corneal limbal rings, muscle stiffness, and tremors, which are the symptoms of Wilson's disease. Various organizations such as Wilson Disease Association and National Organization for Rare Disorders, are raising awareness about Wilson's disease, which will drive Wilson's disease (WD) drugs market growth. Wilson's Disease Association is a volunteer organization based in New York that aims to promote the well-being of patients affected by Wilson's disease by providing up-to-date information on diseases, symptoms, and treatment. In addition, the Wilson Disease Association provides funding for research and trials for Wilson's disease. Thus, increasing awareness of the treatment of Wilson's disease among individuals will drive the growth of the global Wilson's disease drugs market during the forecast period.
Technavio has segmented the market into Products, Distribution channels, and Geography.
It also includes an in-depth analysis of drivers, trends, and challenges.
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The market share growth by the chelators segment will be significant during the forecast period. Copper chelators are the first line of therapy for Wilson's disease, which includes Penicillamine and trientine. Copper chelators work by reducing the copper toxicity in the body, which is then preventing it from reaccumulating on its own. Clovique and synephrine as well as trientine are some of the common or brand names for copper chelators. The growth of the segment is due to the rising incidences of Wilson's disease across all the regions.
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The chelators segment was valued at USD 264.85 million in 2017. The pharmaceutical industry and research organizations are concentrating on the discovery of a treatment for Wilson's disease. The ongoing research initiatives undertaken by market leaders like Bausch Recordati and Teva Pharmaceuticals as well as other participants in that market, the deployment of new technologies, in addition to significant government and private sector funding in Wilson's disease research, will drive the growth of the chelators segment.
Based on the distribution channel, the market has been segmented into retail pharmacies, hospital pharmacies, and online pharmacies. The Retail pharmacies segment will account for the largest share of this segment. The retail pharmacies segment of the global Wilson's disease (WD) drugs market includes chain pharmacies, independent pharmacies, and drugstores that dispense prescription and over-the-counter medications to patients outside of a hospital setting. Generally, Wilson's Disease medicinal products are bought in smaller quantities from wholesalers or manufacturers by retail pharmacies. They stock a range of medications used to manage Wilson's disease drugs. Retail pharmacies also provide a range of services that can help support the use of Wilson's disease drugs, such as medication counseling, medication therapy management, and disease management programs. These services may be able to help patients understand their medical condition and how they are being treated, which could lead to better health outcomes and an increase in demand for Wilson's disease medicines. Retail pharmacies play an important role in the distribution of Wilson's disease drugs and can contribute to the growth
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period.
The availability of improved healthcare infrastructure and the presence of reimbursement policies and co-pay assistance programs such as Medicaid and Medicare enable individuals to opt for medical treatment. However, the increasing availability of generics in the market is expected to offset the growth partially. Drug developers are encouraged to explore new treatment options by favorable regulatory initiatives for the approval of Wilson's disease drugs. The US is the major revenue contributor to Wilson's disease (WD) drugs market in the region. Few factors are expected to drive the growth of the regional market during the forecast period.
In 2020, the outbreak of COVID-19 adversely affected the healthcare sector of various countries, such as the US and Canada in the region. However, government initiatives such as mass vaccination drives and other restrictions such as social distancing have helped the regional government to curb the spread of the virus. The lockdowns were lifted and the restrictions were relaxed by the government. The treatment of piled-up cases of Wilson's disease drugs has started, which will further drive the market for regional Wilson's disease drugs during the forecast period.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 17 market vendors, including:
ANI Pharmaceuticals Inc. - The company offers Wilson's disease drugs such as ANI Pharmaceuticals Cuprimine.
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key trends and challenges.
The growing prevalence of chronic pain is a primary trend in Wilson's disease drug market. The demand for Wilson's disease medicines is increasing due to the increase in chronic pain conditions, such as Wilson's disease. Furthermore, according to data from the National Health Interview Survey (NHIS), the prevalence of chronic pain was 20.4% globally in February 2022, and the prevalence of high-impact chronic pain was 7.4% (or 36.4% of adults with chronic pain).
Globally, women (21.7%), non-Hispanic white adults (23.6%), and those aged 65 and up (30.8%) had the highest rates of chronic pain. Therefore, the global market for Wilson's disease medicinal products will grow over the forecast period due to a growing prevalence of chronic pain.
The stringent regulatory environment on Wilson's drug development and approval is a major challenge faced by Wilson's disease drugs market. In order to guarantee a high level of sterileness and consistency, the majority of pharmaceutical development and approval processes are strictly regulated by different regulatory authorities. The key factors examined by these regulatory bodies include safety, efficacy, medicinal product information, pharmacodynamic effects, and interactions. Therefore, if a drug fails to comply with any of these criteria, it is likely to receive a complete response letter (CRL) or may face complete rejection from regulatory agencies. On receiving a CRL, a drug applicant (pharma company) needs to furnish additional data pertaining to the drug. This may require further studies for the drug applicant, leading to increased spending on research and development. In some cases, drug applicants withdraw their applications and discontinue their drug candidates.
Clinical trials for a drug are typically done in three phases. The US Food and Drug Administration may require further information or suspend the current study if any serious safety, efficacy, or tolerability problems are observed in all phases of animal studies or trials. Upon successful completion of all three phases of clinical trials, the applicant is required to submit a new drug application (NDA) to the US FDA. Such stringent regulatory guidelines on Wilson's drug development and approval can hamper the growth of the market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Wilson's Disease Drugs Market Customer Landscape
The Wilson's disease drugs market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Wilson's Disease Drugs Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.32% |
Market growth 2023-2027 |
USD 179.97 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.25 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ANI Pharmaceuticals Inc., Apotex Inc., AstraZeneca Plc, Bausch Health Co. Inc., Breckenridge Pharmaceutical Inc., Dr. Reddys Laboratories Ltd., Endo International Plc, Lupin Ltd., Merck and Co. Inc., Navinta LLC, Noblepharma Co. Ltd., Panacea Biotec Ltd., Recordati S.p.A, Sanofi, Taj Pharmaceutical Ltd., Teva Pharmaceutical Industries Ltd., and Tsumura and Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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