Charcot-Marie-Tooth disease or hereditary motor and sensory neuropathy (HMSN) is a group of inherited neuropathies that are characterized by muscle weakness and atrophy as well as sensory disturbances in the distal portions of the limbs. The main symptoms include slowly progressive muscle atrophy and weakness in the legs and forearms. Currently available treatment options are limited to pain and symptom management.
The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 380 million in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased prevalence of hereditary neuropathies is driving the growth of the Charcot-Marie-Tooth disease market. For instance, according to the National Organization for Rare Disorders (NORD), Charcot-Marie-Tooth disease affects approximately 1 in 2,500 people worldwide. Early diagnosis of Charcot-Marie-Tooth disease is crucial as it can help manage the symptoms effectively through physical therapy and other supportive treatments. Therefore, growing focus on increasing awareness about genetic testing and diagnosis is contributing to the market growth.
Strength: Presence of promising drug pipeline for Charcot-Marie-Tooth Disease. Numerous pipeline drugs are under development for treatment of the disease such as Losmapimod, Eryaspase, Naltrexone etc.
Weakness: Limited treatment options and lack of approved disease-modifying therapies for Charcot-Marie-Tooth Disease. Approval of new therapies is difficult due to heterogeneous nature and rarity of the disease.
Opportunity: Large undiagnosed patient population represents significant commercial opportunity. Growing research funding and government support for rare diseases presents scope for market growth.
Threats: High failure rates of drug development programs and delay in drug approvals are major challenges. Stringent regulatory requirements add to development risks and costs.
Global Charcot-Marie-Tooth Disease Market Size is expected to witness high growth during the forecast period.
The North America region currently dominates the global Charcot-Marie-Tooth Disease market due to high diagnosis rates and availability of advanced healthcare facilities. On the other hand, Asia Pacific region is expected to emerge as the fastest growing market owing to rising incidence of CMT, increasing healthcare spending and growing awareness.
Key players operating in the Charcot-Marie-Tooth Disease market are Aquestive Therapeutics, Biovista, Eisai Co. Ltd., Nemus Bioscience Inc., Regenacy Pharmaceuticals, Nipro Corp. and Bausch Health Companies Inc. Key players are engaging in new product launches, collaborations and acquisitions to strengthen their market position in the lucrative Charcot-Marie-Tooth Disease market.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it