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The predicted growth of the krabbe disease treatment market share from 2021 to 2026 is USD 438.03 million at a progressing CAGR of 7.56%
This krabbe disease treatment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers krabbe disease treatment market segmentation by:
The krabbe disease treatment market report also offers information on several market vendors, including AbbVie Inc., Acorda Therapeutics Inc., CENTOGENE NV, GlaxoSmithKline Plc, Johnson and Johnson, Novartis AG, Pfizer Inc., Polaryx, Teva Pharmaceutical Industries Ltd., and UCB SA among others.
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The special drug designation is notably driving the krabbe disease treatment market growth, although factors such as limited patient pool for clinical trials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the krabbe disease treatment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Krabbe Disease Treatment Market Driver
One of the key factors driving growth in the krabbe disease treatment market is the special drug designation. The priority review program for facilitating fast drug approvals is offered by the Food and Drug Administration (FDA). This program entitles a sponsor to obtain a priority review voucher on receiving an approval for a biologic or drug for a rare pediatric disease. The voucher helps the sponsor to get the priority review of a subsequent marketing application for a different product. Such special drug designations act as a non-monetary motivation factor for the vendor to engage in R and D for rare diseases such as Krabbe. With the disease being rare and the patient pool small (factors responsible for low profits), such designations make the otherwise non-viable deal, attractive for the vendors. Hence, such special designations will drive market growth during the forecast period.
Key Krabbe Disease Treatment Market Trend
The emergence of pharmacological chaperone therapy is a krabbe disease treatment market trend that is expected to have a positive impact in the coming years. A missense mutation in the GLC enzyme is responsible for more than two-fifths of all known instances of Krabbe disease. Due to the lack of accumulated main substrate within the lysosome and the predominant CNS illness, therapeutic techniques for other lysosomal storage disorders are ineffective in treating Krabbe disease. Due to specific qualities such as low molecular weight, low toxicity, and high bioavailability, the molecules are being studied because they have the potential to penetrate the blood-brain barrier more efficiently than enzymes. There have also been some allosteric chaperones discovered that are directed away from the enzyme's active site. Krabbe disease may be treated with pharmacological chaperone therapy, which is likely to be effective.
Key Krabbe Disease Treatment Market Challenge
The limited patient pool for clinical trials will be a major challenge for the krabbe disease treatment market during the forecast period. Orphan diseases like Krabbe have a very low prevalence rate. As a result, compared to other conditions, the percentage of the population affected by such diseases is low. The number of people available for clinical trials of medications being developed for the treatment of orphan diseases is limited. Due to the lack of a patient pool, drugs examined in these studies also fail to show statistically significant results, even if they are effective. Because it is difficult to identify people from all areas and races due to the rarity of the disease's rarity, limited enrolment in clinical trials raises the risk of post-marketing adverse effects. Trials comparing new treatments to existing medications necessitate a large patient population, which is yet another constraint for the global Krabbe disease treatment market.
This krabbe disease treatment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global Krabbe disease treatment market as a part of the global pharmaceuticals market within the overall healthcare industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the krabbe disease treatment market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the krabbe disease treatment market encompasses successful business strategies deployed by the key vendors. The krabbe disease treatment market is concentrated and the vendors are deploying growth strategies such as practicing efficient production techniques to minimize treatment costs and prevent cost overruns to compete in the market.
jnj.com - The company offers Flexeril as muscle relaxants for krabbe disease treatment.
jnj.com - The consumer segment is focused on six therapeutic areas, immunology, neuroscience, infectious diseases and vaccines, oncology, cardiovascular and metabolism, and pulmonary hypertension.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The krabbe disease treatment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the krabbe disease treatment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for krabbe disease treatment in North America. Market growth in this region will be slower than the growth of the market in other regions.
The significant incidence rate of Krabbe disease will facilitate the krabbe disease treatment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 drastically affected the Krabbe disease treatment in the region. This led to radical changes and disturbances like delay or cancellation in treatment in various medical procedures. Owing to the pandemic, all the medical procedures and services, including Krabbe disease treatment, are performed in compliance with all COVID-19 measures and precautions. The fear of the spread of COVID-19 among people reduced, which, in turn, will drive the growth of the regional market during the forecast period.
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The krabbe disease treatment market share growth by the anticonvulsants segment will be significant during the forecast period. Anticonvulsant drugs are used for the treatment of convulsions or seizures, which is one of the main symptoms of Krabbe disease in infants. Convulsions occur due to severe myelin destruction. With no treatment available to change the course of the disease, there is a high demand for anticonvulsants to treat convulsions that occur in Krabbe-affected patients.
This report provides an accurate prediction of the contribution of all the segments to the growth of the krabbe disease treatment market size and actionable market insights on post COVID-19 impact on each segment.
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Krabbe Disease Treatment Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.56% |
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Market growth 2022-2026 |
$ 438.03 million |
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Market structure |
Concentrated |
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YoY growth (%) |
7.34 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, Canada, UK, Germany, Japan, and China |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AbbVie Inc., Acorda Therapeutics Inc., CENTOGENE NV, GlaxoSmithKline Plc, Johnson and Johnson, Novartis AG, Pfizer Inc., Polaryx, Teva Pharmaceutical Industries Ltd., and UCB SA |
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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, Market condition analysis for the forecast period |
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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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Therapy
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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