Huntington’s Disease Treatment Market Size to Hit USD 2,932.2 Million By 2030, at a CAGR of 17.5%
According to Fortune Business Insights, The Huntington’s Disease Treatment Market size is anticipated to reach USD 2,932.2 Million By 2030, the market size was USD 848.0 Million in 2022 and is anticipated to rise at a CAGR of 17.5%.
Pune, India, Feb. 13, 2023 (GLOBE NEWSWIRE) — The global Huntington’s disease treatment market size reached USD 848.0 million in 2022. The market value is anticipated to increase from USD 945.8 million in 2023 to USD 2,932.2 million by 2030, recording a CAGR of 17.5% during the forecast period. Fortune Business Insights™ presents this information in a report titled, “Huntington’s Disease Treatment Market, 2023-2030.”
Huntington’s Disease (HD) is a rare degenerative, progressive disorder that affects the brain over time. It affects the patient both mentally and physically. Mental or behavioral symptoms include anxiety, depression, apathy, irritability, psychosis, and OCD. On the other hand, physical symptoms include jerky movements in fingers, hands, and face, known as chorea. Currently, there are only two clinically approved drugs for the treatment of chorea associated with HD – Tetrabenazine and Deutetrabenazine. These drugs can help alleviate chorea, which has the tendency to get worse if not addressed.
Key Industry Development:
May 2022: Neurocrine Biosciences, Inc. received the U.S. FDA’s Orphan Drug Designation for Valbenazine as a treatment for HD-associated chorea.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 17.5% |
| 2030 Value Projection | USD 2,932.2 Million |
| Base Year | 2022 |
| Huntington’s Disease Treatment Market Size in 2022 | USD 848.0 Million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 124 |
Key Takeaways
- Increasing prevalence of this disease in different regions is a key factor driving the market growth.
- Market Growth with Early Diagnosis and Timely Treatment of disease of patients.
- Tetrabenazine segment dominated the global market for drugs for the treatment of Huntington’s disease in 2022.
- The North American Huntington’s disease treatment of patients market in 2022 was estimated at $787.3 million.
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Drivers and Restraints:
Need for Advanced HD Therapeutics to Accelerate Growth in Future
The rising prevalence of HD, especially across the U.S. and several European countries, is driving the need for effective solutions for Huntington’s disease treatment. According to the Huntington’s Disease Society of America (HDSA), there were approximately 41,000 symptomatic Americans in 2021, with over 200,000 individuals at risk of inheriting the disease. The widespread prevalence of HD indicates increased demand for effective therapeutic solutions to alleviate associated symptoms.
On the contrary, strict regulatory hurdles could slow down market prospects during the forecast period.
Segments:
Tetrabenazine to Experience Monumental Demand through 2030
Based on drug, the market is segmented into deutetrabenazine, tetrabenazine, and others. The tetrabenazine segment held maximum market share in 2022 and is anticipated to experience robust demand through 2030. Availability of generic version of the drug makes it highly sought-after.
Hospital Pharmacies to Witness Growing Sales of HD Therapeutics
In terms of distribution channel, the market is divided into drug stores & retail pharmacies, hospital pharmacies, and online pharmacies. Among these, hospital pharmacies segment is expected to capture the largest Huntington’s disease treatment market share in the coming years owing to easy availability.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
Regional Insights:
North America to Hold Maximum Share throughout the Forecast Period
North America is anticipated to capture a substantial share of the market over the forthcoming years. The Huntington’s disease treatment market growth in this region is largely driven by increased awareness among the general public about the disease as well as the importance of its treatment. Growing support from private and public organizations through research grants will foster the regional outlook.
Meanwhile, the Europe market will grow on account of growing government initiatives to improve the quality of life for HD patients.
Competitive Landscape:
Key Players Focus on Partnerships to Gain a Competitive Advantage
Prominent players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Key Players Mentioned in the Report:
- Teva Pharmaceutical Industries Ltd. (Israel)
- H. Lundbeck A/S (Denmark)
- Bausch Health Companies Inc. (Canada)
- Neurocrine Biosciences, Inc. (U.S.)
- Prilenia Therapeutics (Israel)
- Novartis AG (Switzerland)
- Lupin (India)
- Hikma Pharmaceuticals PLC (U.K.)
- Dr. Reddy’s Laboratories Ltd. (India)
- Sun Pharmaceutical Industries, Inc. (India)
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Major Table of Contents:
- Global Huntington’s Disease Treatment Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Drug
- Tetrabenazine
- Deutetrabenazine
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- Market Analysis, Insights and Forecast – By Drug
- North America Huntington’s Disease Treatment Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Drug
- Tetrabenazine
- Deutetrabenazine
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Drug
- Europe Huntington’s Disease Treatment Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Drug
- Tetrabenazine
- Deutetrabenazine
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country/Sub-Region
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Market Analysis, Insights and Forecast – By Drug
- Asia Pacific Huntington’s Disease Treatment Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Drug
- Tetrabenazine
- Deutetrabenazine
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country/Sub-Region
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Market Analysis, Insights and Forecast – By Drug
TOC Continued…!
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