Huntington Disease Treatment Market is expected to reach nearly US$ 1,284.69 Million by 2030
15 Feb, 2024

Huntington's Disease Treatment Market is expected to reach nearly US$ 1,284.69 Million by 2030, driven by rising disease prevalence, increased awareness, government support, and the development of innovative therapies.

A report named "Huntington Disease Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2030" has been recently published by Renub Research. The report offers a detailed industry analysis, including market share insights, research on competitors, and recent market expansion. Furthermore, the report covers various regions to understand the Huntington Disease Treatment Market comprehensively.

The Huntington's Disease Treatment Market is expected to grow by 16.53% between 2022 and 2030. Huntington's disease is an uncommon genetic disorder characterized by the gradual degeneration of nerve cells in the brain. This condition significantly impairs a person's functional abilities, often leading to mobility, cognitive, and psychological challenges. Typically, symptoms of Huntington's disease emerge during a person's 30s or 40s. Currently, no approved medication is available that can modify the course of the disease for individuals with Huntington's disease.

The article "Prevalence and Incidence of Huntington's Disease: An Updated Systematic Review and Meta-Analysis" estimates the global prevalence of Huntington's disease in 2023 to be 5-10 per 100,000 people, indicating around 300,000-600,000 individuals worldwide. The increasing prevalence, influenced by factors like an aging population and expanding genetic testing, drives the demand for Huntington's disease treatments. Simultaneously, heightened global awareness is resulting in more diagnoses and treatment-seeking. These dual factors propel the growth of the global Huntington's disease treatment market, a trend expected to persist as disease prevalence rises and awareness expands in the years ahead.

Moreover, new drugs for Huntington's disease are in development and are expected to receive approvals soon, aiming to slow or halt disease progression. Innovations like gene editing, stem cell therapies, and antisense oligonucleotides show promise, fostering growth in the global Huntington's disease treatment market. Despite improved options, the high treatment costs pose accessibility challenges, underscoring the need for initiatives to enhance affordability and accessibility for all patients.

Also, global government support is pivotal in shaping Huntington's disease treatment market, spanning funding for research, tax incentives, expedited approval processes, and public health insurance reimbursement. Examples include the United States' National Institutes of Health and the European Commission's programs like Horizon Europe. Continued government backing is crucial to maintain market growth and ensure affordability and accessibility for all Huntington's disease patients on a global scale.

Report Details:

Approved drugs are the fastest-growing global Huntington's disease treatment market

With no cure for Huntington's disease, managing symptoms is crucial, and approved drugs offer an effective solution. Increased disease awareness has elevated diagnoses, driving demand for these medications. The growing prevalence, influenced by aging and expanded genetic testing, heightens the necessity for approved drugs. Anticipated new drug approvals, exemplified by Tetrabenazine and Deu-tetrabenazine, are set to boost the approved drugs segment, showcasing treatment advancements. Essential for symptom management, approved drugs like antipsychotics, antidepressants, and mood stabilizers are pivotal in addressing Huntington's disease symptoms.

Drug stores and retail pharmacies will persist in dominating the global Huntington's disease treatment market

Strategically located in communities, drug stores, and retail pharmacies offer unmatched accessibility for Huntington's disease treatments. Affordability is paramount, with competitive prices, especially for insured patients. The broad range of available prescription drugs, including those for Huntington's disease, provides patients diverse choices. Pharmacists' expertise ensures essential information and counseling. Examples such as easy access, discounts, various drug options, and expert guidance underscore the dominance of these outlets. Despite potential growth in hospital and online pharmacies, the convenience of drug stores and retail pharmacies is set to sustain their leading role in the global Huntington's disease treatment market.

China is gaining prominence in the global Huntington's disease treatment market

Demand for treatments is propelled by China's rising Huntington's disease prevalence, fuelled by an aging population and more frequent genetic testing. Government backing, subsidies, and streamlined pharmaceutical development approvals are pivotal. Heightened disease awareness boosts diagnoses alongside a wealthier populace, increasing healthcare affordability. Notable initiatives exemplify progress, including Shenzhen XtalPi Co., Ltd.'s Phase 2 clinical trials and the 2018 approval of tetrabenazine for commercialization. Collaborations, like Teva Pharmaceutical Industries Ltd. with Shenzhen XtalPi Co., Ltd., highlight China's ascendancy in the global market.

Competitive Landscape

Bausch Health Cos., H. Lundbeck, Pfizer Inc., Teva Pharmaceutical Industries, Dr. Reddy's Laboratories, Sun Pharmaceutical Industries Limited, Hikma Pharmaceuticals Plc., Alnylam Pharmaceuticals, Novartis AG, and UniQure are the leading companies operating in the global Huntington's disease treatment market.

Market Summary

• Drug Type - The report analyses the Huntington Disease Treatment Market by Drug Type from 2 angles (Approved Drugs and Off-label Drugs).
• End-User - A Renub Research report on the Huntington Disease Treatment Market looks at end-Users from 3 angles (Hospital Pharmacies, Drug stores and retail Pharmacies, and Online pharmacies).
• The Huntington Disease Treatment Market is viewed from 24 different countries' perspectives, including the United States, Canada, Germany, United Kingdom, France, Italy, Netherlands, Spain, China, South Korea, Japan, India, Indonesia, Malaysia, Argentina, Brazil, Mexico, Colombia, Saudi Arabia, South Africa, Israel, Australia, UAE, and Rest of World.
• Key Players - Every significant player in the Huntington Disease Treatment Market has been discussed from three perspectives (Overview, Recent Developments, and Revenue): H. Lundbeck, Pfizer Inc., Bausch Health Cos., Teva Pharmaceutical Industries, Dr. Reddy's Laboratories, Sun Pharmaceutical Industries Limited, Hikma Pharmaceuticals Plc., Alnylam Pharmaceuticals, Novartis AG, and UniQure.

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