by Charcot-Marie-Tooth disease, also referred as hereditary motor and sensory neuropathy, is a group of inherited genetic disorders that affect the peripheral nervous system. Signs and symptoms of Charcot-Marie-Tooth disease usually begin in the late teens or early adulthood and get worse over time. Common symptoms include progressive weakness and atrophy in the feet and lower legs along with weak ankle and foot muscles.
The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1208.92 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing diagnosis of Charcot-Marie-Tooth disease across the globe is one of the major factors driving the growth of the Charcot-Marie-Tooth Disease Market. For instance, according to the National Institute of Neurological Disorders and Stroke (NINDS), around 1 in 2,500 people in the United States have Charcot-Marie-Tooth disease. Additionally, increased awareness about the disease among patients and physicians is also contributing to the rising number of diagnosis. This growing diagnosis rate has further boosted the demand of drugs and medical devices used for the treatment of Charcot-Marie-Tooth disease. Moreover, growing research activities for the development of new and improved therapies for Charcot-Marie-Tooth disease treatment are also propelling the market growth.
SWOT Analysis
Strength: Growing research and development activities and government initiatives to increase awareness about Charcot-Marie-Tooth disease.
Weakness: Lack of drugs approved specifically for treating Charcot-Marie-Tooth disease limits the treatment options.
Opportunity: Rising prevalence of Charcot-Marie-Tooth disease globally increases the patient pool requiring effective treatment alternatives.
Threats: High costs associated with development of orphan drugs for rare diseases like Charcot-Marie-Tooth disease hinders market growth.
Key Takeaways
The Global Charcot-Marie-Tooth Disease Market Size is expected to witness high growth. The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1208.92 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030.
The North America region currently dominates the global market and is expected to maintain its position over the forecast period owing to growing research activities for developing novel drugs. The presence of key pharmaceutical players in the region also supports market growth.
Key players related content comprises Key players operating in the Charcot-Marie-Tooth disease market are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, Drägerwerk AG & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. Growing pipelines of drugs and therapies from these players will boost the overall market in the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
