by The Charcot-Marie-Tooth disease (CMT) Market is estimated to be valued at US$ 1208.92 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Charcot-Marie-Tooth disease (CMT) is a rare degenerative disease of the peripheral nervous system that impacts both motor and sensory peripheral nerves. The disease is expressed across a spectrum of phenotypes (CMT1-CMT5), with symptoms usually presenting in the first two decades of life. Common symptoms include progressive distal muscle weakness and atrophy in the legs and forearms, high arched feet, foot deformities and reduced/loss of tendon reflexes. Currently approved therapies for the treatment of CMT are limited to neuropathic pain medications and orthopedic aids.
Market Dynamics:
The CMT disease market is primarily driven by rising geriatric population and increasing global prevalence of CMT. As per several estimates, around 1 in 2,500 people globally are estimated to have some form of CMT. Increasing awareness about early diagnosis and management of CMT and expanding therapeutic pipeline are also expected to propel market growth over the forecast period. Addex Therapeutics, Affectis Pharmaceuticals, Pharnext and others have several phase 2 clinical trials ongoing for various novel small molecules targeting different etiologies of CMT. If approved, these therapeutics are anticipated to transform the CMT treatment landscape from symptomatic treatment to disease modifying therapies, further fueling market growth during the forecast period from 2023-2030.
Segment Analysis
The Charcot Marie Tooth disease market can be segmented based on type, treatment and end use. The type segment can be further divided into Charcot Marie Tooth disease type 1 and Charcot Marie Tooth disease type 2. The type 1 segment currently dominates the market due to the high prevalence of type 1 Charcot Marie Tooth disease. Based on treatment, the market can be categorized into drug medication, physiotherapy and occupational therapy. The drug medication segment holds the largest share as it is the most effective treatment currently available to manage Charcot Marie Tooth disease.
PEST Analysis
Political: The government support in terms of funding for research and development of novel drugs for rare diseases like Charcot Marie Tooth disease is driving the market growth.
Economic: The rising healthcare expenditure and increasing disposable income is positively impacting the market.
Social: Growing awareness about Charcot Marie Tooth disease and availability of various treatment options is supporting the market expansion.
Technological: Advancements in genetic testing and research is aiding the development of targeted drug therapies and diagnostics tests for Charcot Marie Tooth disease.
Key Takeaways
The global Charcot Marie Tooth disease market is expected to witness high growth, exhibiting CAGR of 23% over the forecast period, due to increasing research funding and approvals of new drugs.
The North America region currently dominates the market due to presence of key players, growing healthcare expenditure and increasing incidence of Charcot Marie Tooth disease in the region. Europe is poised to be the fastest growing market owing to rising government support for rare disease research.
Key players operating in the Charcot Marie Tooth disease market are Addex Therapeutics Ltd., Affectis Pharmaceuticals AG, Genzyme Corp, Lead Discovery Center GmbH, Pharnext SA, Acceleron Pharma, MedDay Pharmaceuticals, Bristol-Myers-Squibb Company, Inflectis Bio Science Health Company, Helixmith Co., Ltd., and Neurogene Inc. Addex Therapeutics Ltd and Bristol-Myers-Squibb Company hold a significant share due to their novel pipeline drugs under development and clinical trials.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
