Global Niemann-Pick Disease Drug Type C Treatment Market, by Drug Type (Phase III Drug {Trappsol Cyclo, IB1001}, Marketed Drug {Miglustat (Zavesca)}), by Indication (Niemann-Pick Disease Drug Type C1, Niemann-Pick Disease Drug Type C2), by Distribution Channel (Hospital Pharmacies, Online Pharmacies, Retail Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, And Africa), is estimated to be valued at US$ 45.40 million in 2022, and is expected to exhibit a CAGR of 22.0% during the forecast period (2022-2030).
Increasing prevalence Niemann-Pick Disease is expected to drive growth of the global niemann-pick disease drug type C treatment market over the forecast period. For instance, according to data published in Elsevier B.V. is a Netherlands-based academic publishing company, in September 2021, stated that NPC (Niemann-Pick disease type C) is an ultra-rare, progressive neurodegenerative disease with approximately 1 per million people in the U.S. diagnosed with or treated off-label for NPC from October 2015–January 2020.
Moreover, rising number of lead candidates in late phase clinical trial with the potential to gain regulatory approval is providing a robust opportunity for pharmaceutical manufacturers to launch novel drugs for treating Niemann pick disease type C is expected to boost the market in forecast period. For instance, in March 2020, Intrabio, a biopharmaceutical company, announced that the U.S. Food and Drug Administration had granted fast track designation to its lead compound (IB1001) for the indication of Niemann pick disease type C.
Global Niemann-Pick Disease Drug Type C Treatment Market - Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the global niemann-pick disease drug type c treatment market growth. The COVID-19 pandemic has affected demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. Thus, Coronavirus (COVID-19) pandemic negatively impacted growth of the global niemann-pick disease drug type c treatment market during the forecast period owing to decrease in the clinical trials of non COVID-19 diseases as the major drugs for the treatment of Niemann-Pick Disease are in the clinical trials. For instance, in April 2020, a study published in Lancet suggests that investigative sites demonstrated flexibility and ingenuity in adopting new approaches in order to cope with challenges presented by the COVID, with over half of investigative sites transitioning to virtual approaches to interact with patients. Follow-up studies performed in August 2020 have identified persistent impact of COVID, with over 60% reporting an average or greater level of impact on ongoing trials and initiation of new trials. Respondents specifically highlighted challenges in patient enrollment and recruitment.
Browse 35 Market Data Tables and 29 Figures spread through 362 Pages and in-depth TOC on Global Niemann-Pick Disease Drug Type C Treatment Market, by Drug Type (Phase III Drug {Trappsol Cyclo, IB1001}, Marketed Drug {Miglustat (Zavesca)}), by Indication (Niemann-Pick Disease Drug Type C1, Niemann-Pick Disease Drug Type C2), by Distribution Channel (Hospital Pharmacies, Online Pharmacies, Retail Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, And Africa)
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Key Takeaways of the global niemann-pick disease drug type C treatment market:
- Global niemann-pick disease drug type c treatment market is expected to exhibit a CAGR of 22.0% over the forecast period (2022-2030). North America is expected to account for major market share over the forecast period (2022-2030), owing to Increasing research funding and investments for NPC treatment by non-profit organizations. For instance, Niemann-Pick Canada, a Canada-based registered charity, is dedicated to discovering a cure for Niemann-Pick disease. The organization receives funds for science and research to advance knowledge and treatments for Niemann-Pick diseases. Niemann-Pick Canada is committed to advocating for increased access to medicines for affected people in Canada.
- Some of the major players operating in the global niemann-pick disease drug type C treatment market include Johnson & Johnson, Intrabio, Cyclo Therapeutics, Inc., Kempharm, Inc., Azafaros B.V., StrideBio. Sarepta Therapeutics, Inc.
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