Adrenoleukodystrophy Treatment Market: Rising awareness about rare diseases to drive the market
Adrenoleukodystrophy Treatment Market: Introduction
- A rare genetic condition that causes the buildup of long chain fatty acids (VLCFAs) in the brain is known as adrenoleukodystrophy (ALD). A mutation in the ABCD1 gene on the X chromosome leads to ALD. Childhood cerebral ALD, Adrenomyelopathy, and Addison’s disease are the three types of adrenoleukodystrophy. Childhood cerebral ALD progresses very rapidly in children between the ages of 3 and 10 and causes severe disability and even death. Addison’s disease is caused when the adrenal glands are unable to produce enough hormones. It is also known as adrenal insufficiency. Adrenomyelopathy primarily affects adult men.
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Key Drivers, Restrains and Opportunities of Global Adrenoleukodystrophy Treatment Market
- Rising awareness about rare diseases leads to increase in potential in research treatment. Moreover, rise in support and funds for research into new ALD treatments contribute to drive the market.
- Surge in number of patient is likely augment the market. For instance, the prevalence of adrenoleukodystrophy, globally, is 1 in 20,000 to 50,000 individuals as per the U.S. National Library of Medicine. 1 in every 21,000 men and 1 in 16,800 women thought to be affected by ALD in the U.S.
- Key industry players are engaged in the development of new products by investment in research & developing owing to a rise in the demand for products. This, in turn, is estimated to drive the market. For instance, Viking Therapeutics conducts a clinical trial program for novel VK0214. In September 2020, Viking Therapeutics launched phase I clinical trial testing with increasing doses of VK0214 to treat adrenoleukodystrophy (ALD). In July 2018, NeuroVia, Inc. initiated the Phase 1/2 clinical study of NV1205, in patients with childhood cerebral adrenoleukodystrophy (CCALD).
- However side-effects associated with stem cell therapy and corticosteroid replacement therapy is expected to hamper the market
- Government initiatives in developing countries to improve healthcare infrastructure leads to an increase the patient access and thereby offers significant opportunity in the market. Moreover, investment by key players to address the unmet medical needs is providing considerable opportunity in the market
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North America to Capture Major Share of Global Adrenoleukodystrophy Treatment Market
- North America is expected to account for a major share of the global adrenoleukodystrophy treatment market. It is expected to maintain its dominance during the forecast period. Well-established healthcare infrastructure and presence of key market players are major factors that are anticipated to drive the market.
- The adrenoleukodystrophy treatment market in Asia Pacific is estimated to hold significant share of the market. The market in Asia Pacific is projected to expand at a rapid pace during the forecast period owing to a rise in awareness about rare diseases.
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Key Players Operating in Global Adrenoleukodystrophy Treatment Market
The global adrenoleukodystrophy market is highly concentrated due to the presence of key players. A large number of manufacturers hold major share in their respective regions. Demand for adrenoleukodystrophy treatment products has increased in emerging as well as developed markets owing to a rise in prevalence of adrenoleukodystrophy. Growth strategies adopted by leading players are likely to drive the global market.
Major players operating in the global adrenoleukodystrophy treatment market are:
- agtc (Applied Genetic Technologies Corporation)
- Viking Therapeutics, Inc
- bluebird bio, Inc.
- SwanBio Therapeutics, Inc.
- MedDay Pharmaceuticals
- NeuroVia, Inc
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