Friedreich’s Ataxia Drugs Gaining Prominence Amid Several Government Initiatives Focused on Rare Disease Research.

/EIN News/ -- Rockville, MD , Aug. 20, 2024 (GLOBE NEWSWIRE) -- The Global Friedreich’s Ataxia Drug Market is projected at a value of US$ 1 billion in 2024, as revealed in a newly published industry analysis by Fact.MR, a market research and competitive intelligence provider. Worldwide revenue from the sales of Friedreich’s ataxia drugs is forecasted to increase at a CAGR of 13.2% from 2024 to 2034.

Friedreich’s ataxia is a neurodegenerative and genetic movement health disorder with a typical onset age, which takes more time for diagnosis at its initial stage. Subsequently, there is a wide scope for market players in developing and using effective drugs and treatments. However, several challenges are encountered during the designing and conducting of clinical trials for developing Friedreich’s ataxia treatment options, which is further restraining global market growth.

Introduction of several emerging therapies with more efficiency and improvement in diagnosis rate is driving opportunities for global market players. Supportive initiatives from government as well as non-government organizations with rare disease research along with funding for research initiatives and clinical trials are leading to the development of targeted therapies.

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Key Takeaway from Market Study:

• Global demand for Friedreich’s ataxia drugs is projected to reach a market value of US$ 3.49 billion by the end of 2034.
• North America is forecasted to hold 36.7% of the global market share by 2034.
• Sales of Friedreich’s ataxia drugs in South Korea are projected to rise at a CAGR of 17.6% from 2024 to 2034.
• The market in Japan is evaluated to increase at 6.3% CAGR through 2034.
• Worldwide demand for Friedreich’s ataxia drugs for use in hospitals is set to increase at a CAGR of 13.1% and reach a value of US$ 1.56 billion by 2034.
• Small molecule therapies are analyzed to account for 38.3% share of global market revenue by the end of 2034.

“More companies are expected to invest in disease-modifying treatments and gene therapy for offering more effective Friedreich’s ataxia drugs,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Friedreich’s Ataxia Drugs Market:

Reata Pharmaceuticals, Inc., Biogen Inc., Retrotope Inc., Intas Pharmaceuticals Ltd., Minoryx, Torrent, PTC Therapeutics, Aurobindo Pharma Ltd., Pharmaceuticals Ltd., Design Therapeutics, Inc., GlaxoSmithKline Plc., Cipla Limited, Larimar Therapeutics, Inc., Sun Pharmaceutical Industries Ltd., Jupiter Neurosciences, Inc., Zydus Lifesciences Ltd., Lexeo Therapeutics, and Neurocrine Biosciences Inc. are some of the key players operating in the Friedreich’s Ataxia drug market.

Increasing Popularity of Small Molecule Therapy-based Treatment for Friedreich’s Ataxia:

Global demand for small molecule therapy-based Friedreich’s ataxia drugs is evaluated to increase at a CAGR of 13.5% and reach a value of US$ 1.34 billion by 2034-end. This molecule therapy-based treatment option is approved by the United States FDA for use against Friedreich’s Ataxia. It helps in keeping a close check on the progress made for the treatment of Friedreich’s Ataxia. Several drugs, such as Nrf2, antioxidants, and other novel methods are utilized commonly in genetic modulation, thereby further ensuring the availability of effective treatment solutions.

Friedreich’s Ataxia Drugs Industry News:

• One of the well-known biotechnology businesses in the US is Design Therapeutics, Inc. The business declared in February 2022 that phase 1 of a clinical trial for the medication DT-216, intended to treat Friedreich's ataxia, was underway. The trial study was finished in December 2022, as anticipated.
  

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of Friedreich’s Ataxia drug market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on drug class (ACE inhibitors, beta-blockers, diuretics, Nrf2 activators, para-benzoquinone, immunomodulators, skeletal muscle relaxants, anti-epileptic drugs, others [vitamin E, other supplements]), mechanism of action (enzyme activators, enzyme replacement, enzyme inhibitors, protein & peptide activators, protein & peptide inhibitors), therapy (small molecule, gene therapy, gene-modified cell therapy, recombinant protein, cell therapy), route of administration (oral, injectable), distribution channel (hospital pharmacies, retail pharmacies, online pharmacies), and patient pool (pediatrics, young adults [10 to 15], adults & seniors), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

Segmentation of Friedreich’s Ataxia Drug Market Research:

By Drug Class :

• ACE Inhibitors
• Beta Blockers
• Diuretics
• Nrf2 Activators
• Para-Benzoquinone
• Immunomodulators
• Skeletal Muscle Relaxants
• Anti-Epileptic Drugs
• Others
  • Vitamin E
  • Other Supplements

By Mechanism of Action :

• Enzyme Activators
• Enzyme Replacement
• Enzyme Inhibitors
• Protein & Peptide Activators
• Protein & Peptide Inhibitors

By Therapy :

• Small Molecule
• Gene Therapy
• Gene-Modified Cell Therapy
• Recombinant Protein
• Cell Therapy

By Route of Administration :

•      Oral
• Injectable

By Distribution Channel :

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Patient Pool :

• Pediatrics
• Young Adults [10 to 15]
• Adults & Seniors
  

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