The global Friedreich Ataxia market size was valued at USD 750 million in 2021 and is projected to reach around USD 2,060 million in 2030 exhibiting a CAGR of 12% in the forecasted period.
The fast research and development activities for manufacturing latest therapeutics for Friedreich’s Ataxia treatment, rising inorganic business growth strategies such as acquisitions, collaborations, and others among market players, are expected to upsurge the market growth. However, problems faced during planning and conducting clinical trials for development of Freidreich’s Ataxia treatment are projected to hinder the growth of the market in the forecasted period.
Growing research and development activities for manufacturing of new Friedreich’s ataxia therapeutics is estimated to drive the market growth over the forecasted period. For instance, as per an article published in the Neurobiology of Disease journal, in January 2021, an oral drug called leriglitazone had presented benefits in handling Friedrich’s ataxia in cellular and animal models. Leriglitazone is produced by Minoryx Therapeutics which is presently in innovative Phase 2/3 of clinical trials for the cure of Friedrich’s ataxia. Leriglitazone re-establishes mitochondrial function which is normally hindered owing to the deficiency of mitochondrial protein frataxin (FXN) in Friedreich’s ataxia disease. Moreover, in February 2022, Design Therapeutics, Inc. announced that it is presently showing Phase 1 clinical trial of its investigational drug DT-216, an intravenous (IV) injection for the treatment of Friedreich’s Ataxia and this clinical trial study is projected to be finalized by December 2022. Major players functioning in market are aiming on attaining regulatory approval of their Friedreich’s ataxia drugs, which is anticipated to drive growth of the global Friedreich’s ataxia market during the forecast period.
High burden of Friedreich’s ataxia is anticipated to drive growth of the Friedreich’s ataxia market across the forecasted period. For instance, as per the data published by the Ataxia UK, a charity registered in Scotland and England & Wales in November 2020, it was projected that the incidence of Friedreich’s ataxia established on carrier frequency of 1 in 85 was 1: 29,000 in Europe in 2020. Moreover, according to the research conducted till date, Friedreich’s Ataxia affects 1 in every 40,000 people.
SARS-CoV-2 (Severe acute respiratory syndrome coronavirus) was stated as a global pandemic by the World Health Organization (WHO), which describes this SARS-CoV-2 infection as novel Coronavirus (COVID-19). As per the Coronavirus (COVID-19), Weekly Epidemiological Update by the World Health Organization, COVID-19 has spread throughout the globe infecting more than 519 million population intending to over 6.3 million deaths as of May 15, 2022. The adverse impact of COVID-19 on the healthcare domain is vast and it has considerably disrupted the healthcare industries’ complete supply chain, from raw materials to development and delivery. Also, the COVID-19 pandemic had a negative impact on the overall growth of the Friedreich’s ataxia market, due to movement limitations and lockdowns.
Likewise, demand and supply for Friedreich’s ataxia therapeutics was disturbed, due to termination of clinical trials intended at developing treatment drugs for Freidreich’s ataxia, and disrupted supply of Friedreich’s ataxia treatment drugs through the lockdown. Furthermore, physiotherapy, rehabilitation programs, physical training, etc. for managing Friedreich’s ataxia was stopped during the lockdown. For instance, as per the electronic survey done amongst Friedreich ataxia (FA) patients in Italy and issued in the Cerebellum & Ataxias journal, an open access scientific journal in January 2021, it was found that the number of patients undertaking physiotherapy was declined by 72.2% due to the COVID-19 lockdown. As per the same source, more than 60% of Friedreich ataxia patients described worsening of their health in lack of physiotherapy during COVID-19 lockdown.
Drug Class Insights
On the basis of drug class, the ACE inhibitors leads the market with the maximum share in due to higher safety and it decreases the burden of the heart, and pacemakers or medicines can stabilize an arrhythmic heartbeat.
End User Insights
On the basis of the end user, the hospitals segment accounts for the maximum growth of the Friedreich’s Ataxia market. The several management activities such as speech therapy, physical therapy, occupational therapy, and surgery are conducted in the hospitals. Moreover, people prefer hospitals over other medication centers due to availability of better infrastructure and equipment.
Region Insights
North America accounts for the maximum market share owing to the increasing awareness for Friedrich’s ataxia and growing funding activities by the U.S. FDA to speed up the research activities aiming rare diseases.
Europe is also projected to grow owing to increasing initiative by market companies and the climbing number of orphan drug descriptions to a drug developed for occasional disease treatment.
Asia-Pacific is expected to grow at the fastest rate owing to rising patients focus concerning effective disease diagnosis and growing government focus for the growth of pharmaceutical industries.
Key Companies Insights
The market for Friedreich’s Ataxia is moderately competitive. With the rising applications of Friedreich’s Ataxia, new players are considering to enter the market. The companies are also involved in activities like joint ventures, mergers, acquisitions, partnerships, and collaborations. These activities aid in growing the effect of the players in the Friedreich’s Ataxia market, ultimately boosting the market growth. Some of the key companies working in the global Friedreich’s Ataxia market include:
- Reata Pharmaceuticals, Inc.
- Retrotope Inc.
- Minoryx, PTC Therapeutics
- Design Therapeutics, Inc.
- Larimar Therapeutics, Inc.
- Jupiter Neurosciences, Inc.
- Lexeo Therapeutics
- Zydus Lifesciences Ltd.
- Cipla Limited
- GlaxoSmithKline Plc.
- Aurobindo Pharma Ltd.
- Sun Pharmaceutical Industries Ltd.
- Torrent Pharmaceuticals Ltd.
- Intas Pharmaceuticals Ltd.
- Other players
Some of the Recent Developments:
- In February 2022, Design Therapeutics, Inc. announced that it is currently conducting Phase 1 clinical trial of its investigational drug DT-216, an intravenous (IV) injection for the cure of Friedreich’s Ataxia.
- In March 2022, Stealth BioTherapeutics Inc. received Orphan Drug Designation from the U.S. Food and Drug Administration (US FDA) Office of Orphan Products Development for its drug Elamipretide, which is designated for the treatment of Friedreich’s ataxia.
Segments
By Drug Class
- ACE Inhibitors
- Beta Blockers
- Diuretics
- Para-Benzoquinone
- Others
By Route of Administration
- Oral
- Injectable
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By End User
- Clinics
- Hospitals
- Diagnostic Centers
- Others
Global Friedreich Ataxia Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Friedreich Ataxia market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
The main goals of report are:
- To examine and assignment the extent of the international market for the market sector.
- To Researching the important gamers globally, their SWOT analysis, market value, and market share.
- To identify, describe, and mission market based totally on type, quit use, and geography.
- To take a look at the market advantages, challenges, dangers, and constraints in the world’s principal regions.
- To pick out key traits and variables that are advertising or inhibiting market growth.
- To decide the excessive increase segments in order to have a look at the market potentialities for stakeholders.
- To consider every submarket fastidiously in phrases of its very own boom sample and market contribution.
- To know market possessions, agreements, growth, and the introduction of new merchandise as aggressive advances.
- To strategically discover the essential gamers and completely take a look at their enlargement plans.
