Allied Market Research published a report, titled, “Huntington’s Disease Treatment Market by Drug type (Approved drugs, Offlabel drugs), by Age (Below 50 years, Above 50 years), by Distribution channel (Hospital pharmacies, Drug store and retail pharmacies, Online pharmacies): Global Opportunity Analysis and Industry Forecast, 2021-2031″ According to the report, the global Huntington’s disease treatment industry was estimated at $315.2 million in 2021, and is anticipated to hit $707.5 million by 2031, registering a CAGR of 8.4% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.
Huntington’s disease (HD) is a hereditary and deadly disorder that causes nerve cells in the brain to break down. As a result, one’s physical and mental capacities deteriorate with time. There is no cure. If it starts early in life, it is called juvenile Huntington’s disease. There is no cure, however, there are ways to cope with this disease and its symptoms. Huntington’s disease symptoms can be managed with the aid of medications. Treatments, however, are unable to stop the condition’s effects on the body, mind, and behavior.
No treatments can alter the course of Huntington’s disease. However, medications can lessen some symptoms of movement and psychiatric disorders. In addition, multiple interventions can help a person adapt to changes in abilities for a certain amount of time.
Increase in prevalence of Huntington’s disease and strong product pipeline are the major Huntington’s disease treatment market trends. Furthermore, innovations, development of advanced technologies, key strategies adopted by key players, and increase in awareness regarding treatment of Huntington’s disease fuels the market growth. However, post complications in drug development, which is expected to hinder the market growth. Conversely increase in R&D investments in drug discovery and development is a great opportunity for key players to invest during the Huntington’s disease treatment market forecast, especially in the developing economies.
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Impact of Covid-19 on Huntington’s Disease Treatment Market-
The majority of the hospitals across the globe were restructured to increase hospital capacity for patients diagnosed with Covid-19, and the non-essential procedures took a potential backlog, owing to rapidly rising Covid-19 cases.
Furthermore, other factors responsible for the impact on the market include limited availability of medical care and shortage of healthcare staff had a negative impact on the global Huntington’s Disease Treatment market.
Segmentation Analysis of the Industry:
By drug type, the Huntington’s disease treatment market size is segmented into approved drugs and off-label drugs. The approved drugs segment generated maximum revenue in 2021, and is expected to witness highest CAGR during the forecast period, owing to effective treatments and development of various disease-modifying therapies during forecast period.
Depending on age, the Huntington’s disease treatment market size is divided into below 50 years and above 50 years. The below 50 years segment dominated the market in 2021, and is expected to witness highest CAGR during the forecast period, owing to higher incidence of disease in this age group.
Depending on distribution channel, the Huntington’s disease treatment market analysis is divided into hospital pharmacies, drug store & retail pharmacies, and online pharmacies The drug store and retail pharmacies segment dominated the Huntington’s disease treatment industry in 2021 as they provide advice on its offerings of over-the-counter drugs and online pharmacies is expected to witness highest CAGR during the forecast period, owing to increase in trend of online shopping and discount provided by those channels.
North America accounted for majority of the Huntington’s disease treatment market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in Huntington’s disease treatment, increase in R&D investments, and presence of key and robust healthcare infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth in Huntington’s disease treatment industry, owing to rise in patient population, development of healthcare infrastructure, and increase in investment projects in the region.
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Key findings of the study
• By drug type, the approved drugs segment was the highest contributor to the market in 2021.
• By age, the below 50 years segment was the highest contributor to the market in 2021.
• Depending on distribution channel, the drug store & retail pharmacies segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.
• Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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