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Duchenne Muscular Dystrophy Global Market Types and Applications, Drivers, Ongoing Trends, Future Demand, Challenges, Top Companies And Forecast 2024-2033
Duchenne Muscular Dystrophy Global Market
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According to The Business Research Company's, The duchenne muscular dystrophy market size has grown strongly in recent years. It will grow from $1.07 billion in 2023 to $1.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to genetic understanding and diagnostic advances, clinical trial progress, patient advocacy and awareness, orphan drug designation and incentives, collaborative research initiatives.
The duchenne muscular dystrophy market size is expected to see strong growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to emerging gene therapies, precision medicine approaches, expanded access to therapies, long-term follow-up studies, regulatory advancements. Major trends in the forecast period include integration of digital health technologies, technological advancements in therapeutics, gene therapies and genetic medicines, regulatory support for orphan drugs, precision medicine approaches.
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Market Drivers and Trends:
The increasing prevalence of chronic diseases is expected to propel the growth of the Duchenne muscular dystrophy market in the future. A chronic disease is a health issue or condition with long-lasting symptoms lasting for at least a year. The Duchenne muscular dystrophy contributes to the prevalence of chronic diseases by addressing the specific therapeutic needs of individuals with this genetic disorder, highlighting the broader significance of personalized medicine in managing and potentially mitigating the impact of chronic conditions. For instance, in January 2023, according to the National Institutes of Health (NIH), a U.S. government agency that conducts and supports biomedical and health-related research, the study projects a substantial rise in the prevalence of chronic diseases among the working-age population in the United States, with an estimated 99.5% increase in adults aged 50 years and older with at least one chronic disease from 2020 to 2035. Additionally, the prevalence of multimorbidity is expected to surge by 110.5% from 2020 to 2050, highlighting the growing health challenges faced by the working population. Therefore, the increasing prevalence of chronic diseases is driving the growth of the Duchenne muscular dystrophy market.
Technological advancements are a key trend gaining popularity in the Duchenne muscular dystrophy market. Major companies operating in the Duchenne muscular dystrophy market are focusing more on technological advancements and research and development to sustain their position in the market. For instance, in April 2021, according to the University of Texas Southwestern's s Hamon Center for Regenerative Science and Medicine, a US-based public academic health science center, launched a new type of gene therapy to treat mice with Duchenne muscular dystrophy (DMD) by using CRISPR-Cas9-based techniques to restore a significant portion of the dystrophin protein that is missing in many DMD patients. The scientists created several effective CRISPR-Cas9 nucleotide gene editing techniques to bypass the mistaken stop signal, restoring the creation of 97 % of the protein. They quickly investigated nucleotide gene editing techniques using cardiomyocytes produced from iPS cells of DMD patients, showing the restoration of the dystrophin protein.
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Major Key Players of the Market:
Pfizer Inc., GlaxoSmithKline plc, Eli Lilly and Company, Daiichi Sankyo Company Limited, PerkinElmer Inc., BioMarin Pharmaceutical Inc., Nippon Shinyaku Co. Ltd., Sarepta Therapeutics Inc., PTC Therapeutics Inc., Acceleron Pharma Inc., FibroGen Inc., Asklepios BioPharmaceutical Inc., Catabasis Pharmaceuticals Inc., Wave Life Sciences Ltd., Bristol Myers Squibb Company, BridgeBio Pharma Inc., CureVac N.V., Rocket Pharmaceuticals Inc., Italfarmaco SpA, Solid Biosciences Inc., Avidity Biosciences Inc., Fulcrum Therapeutics Inc., Akashi Therapeutics Inc., Nihon Pharmaceutical Co. Ltd., WAVE Life Sciences Ltd., Capricor Therapeutics Inc., Santhera Pharmaceuticals Holding, Armagen Technologies Inc., Dyne Therapeutics Inc., Benitec Biopharma Limited, Edgewise Therapeutics Inc.
Duchenne Muscular Dystrophy Market 2024 Key Insights:
• The duchenne muscular dystrophy market size is expected to see strong growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• The Role Of Duchenne Muscular Dystrophy Market In Chronic Disease Landscape
• Technological Advancements Drive Growth In Duchenne Muscular Dystrophy Market
• North America was the largest region in the Duchenne muscular dystrophy market in 2023
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