2024-2033 Duchenne Muscular Dystrophy Market Forecast: Predicted Growth Rate and Market Size
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How Rapidly is the Duchenne Muscular Dystrophy Market Forecasted to Grow Between 2024 and 2033?
The market size for Duchenne muscular dystrophy has been on a robust growth trajectory in the past few years. The market, which stands at $1.07 billion in 2023, is anticipated to expand to $1.17 billion in 2024, with a compound annual growth rate (CAGR) of 9.2%. Factors such as advancements in genetic understanding and diagnosis, progress in clinical trials, increased patient advocacy and awareness, beneficial orphan drug designations and incentives, and collaborative research efforts have all driven up the growth during the historical period.
The market size of Duchenne muscular dystrophy is predicted to experience robust growth in the upcoming years, swelling to $1.61 billion by 2028 with a compound annual growth rate (CAGR) of 8.2%. Several factors are contributing to the projected growth during this period, including the emergence of gene therapies, precision medical strategies, wider access to therapies, comprehensive long-term studies, and regulatory progress. Noteworthy trends expected within this forecast period include the incorporation of digital health technologies, therapeutic technological advancements, progress in gene therapies and genetic medicines, regulatory endorsement for orphan drugs, and precision medical strategies.
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What Factors Are Behind the Rapid Growth of the duchenne muscular dystrophy Market?
The anticipated escalation in chronic diseases’ incidence is predicted to enhance the Duchenne muscular dystrophy market’s growth in the future. Long-term health conditions, which last for at least a year, are classified as chronic diseases. Duchenne muscular dystrophy significantly contributes to chronic diseases’ increasing prevalence by catering to the unique therapeutic needs of those afflicted with this genetic disorder. This underscores personalized medicine’s value in managing and possibly reducing chronic condition’s impact. For instance, a study by the National Institutes of Health (NIH), a U.S. government agency dedicated to health and biomedical research, in January 2023, forecasted a considerable rise in chronic diseases among the United States’ working-age population. Their estimate anticipates a 99.5% increase from 2020 to 2035 in adults 50 years and older living with a chronic disease. Also, the projection of a 110.5% surge in multimorbidity from 2020 to 2050 illustrates the increasing health risks faced by the workforce. Therefore, the growing prevalence of chronic diseases is stimulating the Duchenne muscular dystrophy market’s growth.
What Are the Principal Segments of the Duchenne Muscular Dystrophy Market?
1) By Therapy: Mutation Suppression, Exon Skipping Approach
2) By Therapeutic Class: Molecular Based Therapies, Steroid Therapy
3) By Route of Administration: Oral, Parenteral, Other Routes Of Administration
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
5) By End User: Hospitals, Homecare, Specialty Clinics, Other End-Users
What Emerging Patterns Are Redefining the Duchenne Muscular Dystrophy Market?
The Duchenne muscular dystrophy market is currently experiencing a prominent trend of technological innovations. The leading companies in the market are focusing on these advancements and conducting significant research and development in order to remain competitive. For example, in April 2021, the University of Texas Southwestern’s Hamon Center for Regenerative Science and Medicine — a renowned US-based public academic health science center — pioneered a new gene therapy for Duchenne muscular dystrophy (DMD) in mice. Utilizing the revolutionary CRISPR-Cas9 concept, they managed to replenish a substantial percentage of the dystrophin protein that is typically lacking in most DMD patients. The team developed a series of effective CRISPR-Cas9 gene editing protocols to circumvent the incorrect stop signals, successfully recovering 97% of the protein. They subsequently tested these gene editing techniques employing cardiomyocytes derived from iPS cells of DMD patients, demonstrating the successful restitution of the dystrophin protein.
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Which Geographical Regions Are Shaping the Duchenne Muscular Dystrophy Market Growth?
North America was the largest region in the Duchenne muscular dystrophy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global duchenne muscular dystrophy market during the forecast period. The regions covered in the duchenne muscular dystrophy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Duchenne Muscular Dystrophy Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the duchenne muscular dystrophy market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Duchenne Muscular Dystrophy Market Include
1. Duchenne Muscular Dystrophy Market Executive Summary
2. Duchenne Muscular Dystrophy Market Segments
3. Duchenne Muscular Dystrophy Market Size And Template Market Growth Rate
4. Key Duchenne Muscular Dystrophy Market Trends
5. Major Duchenne Muscular Dystrophy Market Drivers
……
25. Key Mergers And Acquisitions In The Duchenne Muscular Dystrophy Market
26. Top Duchenne Muscular Dystrophy Companies
27. Duchenne Muscular Dystrophy Market Opportunities And Strategies
28. Duchenne Muscular Dystrophy Market, Conclusions And Recommendations
29. Appendix
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