Fighting Ataxia: Market Report 2024 Spotlights Treatment Advancements

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Ataxia Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $51.3 billion In 2028 At A CAGR Of 8.5%.

The ataxia market size has grown strongly in recent years. It will grow from $33.78 billion in 2023 to $37.01 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to limited treatment options, advances in neurological research, growing awareness of rare diseases, evolution of diagnostic technologies, increased focus on genetic factors.

The ataxia market size is expected to see strong growth in the next few years. It will grow to $51.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to accelerated drug development for ataxia, rising investments in rare disease research, adoption of precision medicine approaches, increased focus on patient advocacy, growing understanding of the genetic basis of ataxia.. Major trends in the forecast period include integration of digital health solutions in ataxia management, development of gene therapies for ataxia treatment, rise in collaborative research initiatives, emphasis on patient-centric care models, adoption of telemedicine for ataxia consultations.

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Ataxia Market Major Segments
The ataxia market covered in this report is segmented -

1) By Type: Friedreich's Ataxia, Ataxia-telangiectasia, Episodic Ataxia, Other Types
2) By Product: Treatment, Diagnosis
3) By Dosage Form: Solid, Liquids, Other Dosage Forms
4) By Route of Administration: Oral, Parenteral, Other Routes of Administration
5) By End User: Hospital, Clinics, Home Healthcare, Other End-Users

Key Driver - Alarming Surge In Alcohol Consumption Spurs Growth In The Ataxia Market

The rise in alcohol consumption is expected to propel the growth of the ataxia market going forward. Alcohol consumption refers to drinking an ethanol-containing beverage, usually orally. Cerebellar degeneration, a prevalent kind of acquired toxic ataxia, is caused by chronic alcohol misuse. Patients with alcoholism experience lower limb postural tremors and gait ataxia. For instance, in December 2022, according to the Global Beer Consumption Report for 2021 shared by Kirin Holdings Company Limited, a Japan-based integrated beverages company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from the previous year. Due to the easing of the effects of the spread of COVID-19, the total amount of beer consumed worldwide in 2021 increased by roughly 7.13 million kiloliters (equivalent to about 11.3 billion 633-ml bottles) from the previous year, reaching about 185.6 million kiloliters (up 4.0% of the prior year, or roughly 293.2 billion 633-ml bottle equivalent). Therefore, the rise in alcohol consumption is driving the growth of the ataxia market.

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Prominent Trend - Revolutionizing Ataxia Treatment With Groundbreaking Drug Targeting

Product innovations are a key trend gaining popularity in the ataxia market. Major companies operating in the ataxia market are focused on innovating new products or drugs to sustain their position in the market. For instance, in February 2023, Reata Pharmaceuticals, a US-based biotechnology company, announced the FDA's (the U.S. Food and Drug Administration's) approval of SKYCLARYS (omavaloxolone). It is the first and only drug indicated for patients with Friedreich's ataxia in adults and adolescents aged 16. At Week 48, treatment with the oral, once-daily medication SKYCLARYS led to statistically significant lower mFARS (modified Friedreich's Ataxia Rating Scale) scores (reduced impairment) compared to placebo. The diagnosis of Friedreich's ataxia, an extremely rare inherited neurological condition, usually occurs around adolescence.

Ataxia Market Players
Major companies operating in the ataxia market report are Pfizer Inc., Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd, AbbVie Inc., Bayer AG, Novartis AG, Sanofi, Bristol-Myers Squibb Company, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Merck KgaA, Viatris Inc., Teva Pharmaceutical, Otsuka Pharmaceutical Co. Ltd., Mylan N.V., Celgene Corporation, Vertex Pharmaceuticals Incorporated, Banner Health, UCB S.A., Eisai Co. Ltd., Sun Pharmaceutical Industries Ltd., Genentech Inc., Ipsen Biopharmaceuticals Inc., Aurobindo Pharma Limited, Apotex Inc., Amneal Pharmaceuticals LLC, Biogen Inc, Lupin Limited

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Largest And Fastest Growing Region In The Market
North America was the largest region in the ataxia market in 2023. Asia-Pacific is expected to be the fastest-growing region in the ataxia market report during the forecast period. The regions covered in the ataxia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ataxia Market Report Structure
3. Ataxia Market Trends And Strategies
4. Ataxia Market - Macro Economic Scenario
5. Ataxia Market Size And Growth
…..
27. Ataxia Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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