PROGRESSIVE SUPRANUCLEAR PALSY TREATMENT MARKET ANALYSIS

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

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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.

Figure 2. Global Progressive Supranuclear Palsy Treatment Market Share (%), by Drug Type, 2020

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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.