Global Niemann Pick Disease Type C Market, By Drug (Pipeline Drugs (Arimoclomol and Trappsol Cyclo), and Marketed Drugs (Miglustat (Zavesca))), By Indication (Niemann-Pick Disease Type C1 and Niemann-Pick Disease Type C2), By Distribution Channel (Hospital Pharmacies and Retail Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, and Rest Of World), is estimated to be valued at US$ 32.0 million in 2020 and is expected to exhibit a CAGR of 42.3% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Market players are focused on adoption of inorganic growth strategies such as collaborations, partnerships, and agreement to strengthen their position in the global Niemann pick disease type C market.
In 2019, Cyclo Therapeutics, Inc. a clinical stage biotechnology company has signed an agreement with Worldwide Clinical Trials (Worldwide), a leading contract research organization (CRO), to conduct a pivotal trial for Trappsol Cyclo for the treatment of Niemann-Pick Disease Type C.
For instance, in 2017, Janssen Pharmaceutical, a subsidiary of Johnson & Johnson, acquired Actelion Ltd. (a pharmaceuticals and biotechnology company) for a total purchase price of approximately US$ 30 billion in cash. ZAVESCA (miglustat) is the product of Actelion Ltd.
Global Niemann Pick Disease Type C Market – Impact of Coronavirus (Covid-19) Pandemic
The coronavirus (COVID 19) pandemic and resulting lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one such sectors which has been majorly impacted by the COVID 19 pandemic.
The lockdown in various countries has placed an economic burden on the private healthcare sector. Healthcare providers were facing challenges with regards to manpower, equipment, consumables, and other resources to ensure safety in treatment of patients with other diseases, and declining outpatients’ visits, etc.
Moreover, the coronavirus pandemic has negatively impacted the development, production, and supply of drugs as well as growth of healthcare businesses across the globe. This has led to closure of industrial establishments, except manufacture of essential commodities, and disruption in supply chain of products.
The pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets.
Supply chain and manufacturing activities in India, China, the U.S., and others have been disrupted due to lockdowns. Whereas, countries such as Thailand, Indonesia, Singapore, and others are facing problems with regards to transportation of drugs and medications.
Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit growth of the global Niemann Pick disease type C market to certain extent during the forecast period.
Browse 35 Market Data Tables and 28 Figures spread through 138 Pages and in-depth TOC on “Niemann Pick Disease Type C Market”- Global Forecast to 2027, By Drug (Pipeline Drugs (Arimoclomol and Trappsol Cyclo), and Marketed Drugs (Miglustat (Zavesca))), By Indication (Niemann-Pick Disease Type C1 and Niemann-Pick Disease Type C2), By Distribution Channel (Hospital Pharmacies and Retail Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, and Rest Of World),
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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 the growth of the market. For instance, in 2015, Vtesse, Inc., a biotechnology company, entered into an agreement with the National Institutes of Health (medical research agency), where the researchers supported the company for the development of new treatment options for the NPC and other lysosomal storage disorders.
Key Takeaways of the Global Niemann Pick Disease Type C Market:
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