Progressive supranuclear palsy (PSP) is a rare progressive condition that can cause problems with balance, movement, vision, speech, and swallowing. It is caused due to increasing numbers of brain cells getting damaged over time. Progressive supranuclear palsy (PSP) is also known as Steele-Richardson-Olszewski syndrome. Increasing incidence of progressive supranuclear palsy (PSP) is expected to boost the market. For instance, according to the Chicago Dizziness and Hearing, an article published in August 2020 reports that worldwide progressive supranuclear palsy is estimated to affect about 4-6.4/100,000 persons and the incident rate for new cases for ages 50-99 is estimated to be 5.3/100,000, and the crude incidence rate is 1.1/100,000.
The global progressive supranuclear palsy treatment market is estimated to be valued at US$ 14.38 million in 2020 and is expected to exhibit a CAGR of 5.3% during the forecast period (2020-2027).
Figure 1. Global Progressive Supranuclear Palsy Treatment Market Share (%), by Region, 2020
The increasing product development and ongoing trials is expected to propel growth of the global progressive supranuclear palsy treatment market
Major players in the market are focused on drug development for progressive supranuclear palsy treatment, which is expected to boost the market growth over the forecast period. For instance, in September 2020, Alzprotect announced the recruitment of the first five patients to be participated in its Phase IIa clinical trial with its drug candidate AZP2006 (EZEPROGIND) for progressive supranuclear palsy (PSP) treatment. PSP is an orphan disease and moreover the company received an orphan drug designation by the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA).
However, failure of drug results in the clinical trial is expected to hinder the market growth over the forecast period. For instance, in July 2019, AbbVie, a biopharmaceutical company halted its Phase 2 trial of its anti-tau antibody ABBV-8E12 for progressive supranuclear palsy. The trial was stopped due to failure in futility analysis.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2020: | US$ 14.38 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 5.3% | 2027 Value Projection: | US$ 20.68 Mn |
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| Companies covered: |
AbbVie Inc., Acorda Therapeutics Inc., Biogen Inc., Bristol-Myers Squibb Co., Merck & Co. Inc., UCB Biopharma, AlzProtect, Asceneuron Therapeutics, TauRx Pharmaceuticals, GlaxoSmithKline PLC, Novartis AG, and Teva Pharmaceutical Industries Ltd. |
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Figure 2. Global Progressive Supranuclear Palsy Treatment Market Share (%), by Drug Type, 2020
Increasing incidence of progressive supranuclear palsy in North America is expected to boost the market growth
North America is expected to hold dominant position in the global progressive supranuclear palsy treatment market, owing to increasing new cases of progressive supranuclear palsy in this region. For instance, according to the National Organization for Rare Disorders (NORD), an article published in 2017, report that progressive supranuclear palsy (PSP affects around 20,000 people in the U.S. each year. The study also states that PSP may affect as many as 5 in 100,000 people and males are affected more often than females.
Global Progressive Supranuclear Palsy Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare is one such sector which has been impacted significantly by the COVID-19 pandemic.
The lockdown in various countries due to the pandemic has placed an economic burden on the healthcare sector. Moreover, the coronavirus pandemic has hampered the development, production, and supply of drugs and other healthcare products and affected growth of healthcare businesses of various companies across the globe.
As a result, the impact of the COVID-19 pandemic is also expected to limit growth of the global progressive supranuclear palsy treatment drugs market during the forecast period.
Key Players
Major players operating in the global progressive supranuclear palsy treatment market include AbbVie Inc., Acorda Therapeutics Inc., Biogen Inc., Bristol-Myers Squibb Co., Merck & Co. Inc., UCB Biopharma, AlzProtect, Asceneuron Therapeutics, TauRx Pharmaceuticals, GlaxoSmithKline PLC, Novartis AG, and Teva Pharmaceutical Industries Ltd.
Progressive supranuclear palsy (PSP) is a neurodegenerative disease alike Parkinson's disease. The disease results from damage to nerve cells in the brain. One of the common symptomof the disease include inability to aim and move the eyes properly, where individuals may experience as blurring of vision. It is a rare brain disorder that affects body movement, control of walking i.e. gait and balance, speech, swallowing, vision, mood and behavior, and thinking.
Market Dynamics
Rising incidence of progressive supranuclear palsy (PSP) is expected to drive progressive supranuclear palsy treatment market growth. For instance, according to the National Institute of Neurological Disorders and Stroke, an article published in July 2020, reports that about 3-6 in every 100,000 people have progressive supranuclear palsy worldwide, and around 20,000 U.S. populace are suffering from progressive supranuclear palsy.
However, lack of identification or diagnosis of progressive supranuclear palsy are expected to hinder the market growth. For instance, according to the National Institute of Neurological Disorders and Stroke, an article published in July 2020, states that currently there are no specific laboratory tests or imaging approaches are definitively diagnose progressive supranuclear palsy.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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