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The Statins market to be under the gambit of “growth curve” in the next decade
Ataxia is a neurological condition, characterized by lack of voluntary coordination of muscle movement. Ataxia causes head trauma, stroke, Transient Ischemic Attack (TIA), tumor and toxic reaction. Progressive ataxia and weakness disorders are related to damage, degeneration or loss of neurons of the brain which leads to muscle coordination disability.The global market for treatments of syndromes of progressive ataxia and weakness disorders is categorized based on various drugs used for treatment of progressive ataxia syndromes, drugs for progressive weakness syndromes and by technology. The progressive ataxia syndrome segment is further sub-segmented into major diseases, such as Friedreich’s ataxia, Gertsman-Straussler-Scheinker disease and Machado-Joseph disease. The progressive weakness syndrome segment includes amyotrophic lateral sclerosis, hereditary spastic paraplegia, hereditary neuropathies, progressive bulbar palsy and multiple sclerosis. The technology segment is further sub-segmented into small molecules based therapies and monoclonal antibody.
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In terms of geography, the U.S. and Canada holds major market share of treatments for syndromes of progressive ataxia and weakness disorders market in North America. In Europe, Germany, France and the U.K are major markets for treatments of syndromes of progressive ataxia and weakness disorders.
Globally, treatments for syndromes of progressive ataxia and weakness disorders market are growing due to novel drug development and rapid technological advancement for treatment of progressive ataxia and weakness disorders. Some of the major technological advancement involved in growth of the market are protein mis-folding, gene mutation and stem cell therapy. In addition, increased collaborations between industry players for development of new therapies is a key trend for the market.
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The statins market is expected to register a significant CAGR during the forecast period. Depending on geographic regions, statins market is segmented into seven key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). The statins market is led by North America followed by Europe and Asia Pacific. North America statins market is expected to expand slowly when compared to Asia Pacific. Latin America and MEA are expected to witness moderate growth during the forecast period. Increase in incidence rate of obesity and cardiovascular related disorders in emerging regions along with changes in healthcare regulatory regimes in some of these regions is expected to boost overall demand for statins in developing regions. Many companies are focusing on strengthening their distribution networks in Asia Pacific to expand their market presence as well as increase their profit pools over the next few years.
Some of the key market players for statins market are AstraZeneca plc, Pfizer Inc., GlaxoSmithKline plc, Novartis International AG, Merck & Co., Inc., Biocon, Concord Biotech, and Aurobindo Pharma Ltd.
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