The Global Niemann-Pick Disease Type C Treatment Market, by Disease Type (Niemann-Pick Diseases Type C1 And Niemann-Pick Diseases Type C2), By Age Group (Infantile, Juvenile, and Adult), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 32.0 million in 2020 and is projected to exhibit a CAGR of 4.1% during the forecast period (2020 – 2027).
Market players are indulged in securing fundings from various firms, for conducting clinical trials, which is expected to drive the market growth over the forecast period. For instance, on October 10, 2020, Azafaros B.V received Series A funding of US$ 25.4 million from the Dutch VC firm Forbion, in order to initiate the phase I clinical trials for the testing of small molecules for the treatment of inherited lysosomal storage disorder.
Market players are engaged in presenting positive clinical trial results, which is expected to support growth of the global Niemann – Pick disease type C treatment market. For instance, in 2019, CTD Holdings, Inc. presented its clinical trials data at the annual Family Support and Medical Conference organized by the National Niemann-Pick Disease Foundation (NNPDF). The data represented positive results for Trappsol Cyclo, cyclodextrin drugs, when administered intravenously, for the management of NPC symptoms.
Market players are indulged in inorganic activities such as collaborations with other institutes, for the research and development of new treatment options for NPC, which is expected to drive growth of the market over the forecast period. For instance, in 2015, Vtesse, Inc., a biotechnology company, entered into an agreement with the National Institutes of Health, where the researchers supported the company for the development of new treatment options for the NPC and other lysosomal storage disorders.
Global Niemann-Pick Disease Type C Treatment Market – Impact of Coronavirus (COVID – 19) Pandemic
The COVID – 19 pandemic is expected to hamper growth of the global Niemann-Pick disease type C (NPC) treatment market during the forecast period. According to the Ataxia U.K., a non-government organization in the U.K., individuals suffering from ataxia find it difficult to recover from the coronavirus infections as compared to the individuals who are healthy. Ataxia is a neurological disorder, which is one of the symptoms for NPC. Therefore, people suffering from ataxia and their respective families should protect themselves from coronavirus infections.
Furthermore, according to the National Center for Biotechnology Information, July 2020, a study conducted in order to find the association of Middle East respiratory syndrome (MERS)-CoV infection and neurological problems, it was found that, out of 70 patients suffering from (MERS)-CoV infection, 8.6% patients had seizures and 26% of the patients showed altered mental status. According to the same source, coronavirus infected patients also showed signs of neurological and respiratory problems. The neurological problems include febrile seizures, convulsions, and change in mental status, encephalomyelitis, and encephalitis, which are the symptoms for NPC. Therefore, NPC patients may find it difficult to recover from coronavirus infection.
Browse 37 Market Data Tables and 29 Figures spread through 144 Pages and in-depth TOC on Global Niemann-Pick Disease Type C Market, by Disease Type (Niemann-Pick diseases type C1 and Niemann-Pick diseases type C2), by Age Group (Infantile, Juvenile, and Adult), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027
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Key players are focused on receiving approvals from regulatory agencies, which is one of the important steps for launching products in the market. For instance, in 2019, CTD Holdings Inc. received the U.S. Food and Drug Administration (FDA) approval for the expanded access treatment in the U.S for the cyclodextrin drug, Trappsol Cyclo. The manufacturer is eligible to provide experimental drug to the pediatric patient suffering from NPC. In 2009, similar approval was received by CTD Holdings Inc. for providing cyclodextrin drugs for the patients.
Key Takeaways of the Niemann – Pick Disease Type C Treatment Market:
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