Wilson’s disease treatment market to gain rapid traction, with increasing awareness towards the Wilson’s disease
The Global Wilson’s Disease Treatment market was valued at US$ 392.0 million in 2016 and is projected to expand at a CAGR of 6.0% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Rampant increase in incidence rate of Wilson’s disease inadvertently fuels growth of the market.
Manufacturers are focusing on drug innovation to tap into emerging markets of Asia Pacific, given their increasing spending on healthcare. For instance, Valeant Pharmaceuticals International Inc. announced the support regarding Wilson’s disease by providing US$ 100,000 fund for patient awareness and research into the treatment of Wilson’s disease. Whereas, Valeant Pharmaceuticals International. Inc. also sells its medication for Wilson’s disease under the Valeant coverage plus policy that assists customers to identify the best cost saving options. Furthermore, small manufacturers are launching tablets for Wilson’s disease under the licensed agreement with big manufacturers for example, Noblepharma Co., Ltd. Launched Nobelzin tablets under the licensed agreement with TEVA Pharmaceuticals.
Furthermore, manufacturers are also involved in R&D for novel drugs and vaccine. For instance in 2016, Merck & Co., Inc. invested US$6.8 Bn on research and development.
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Wilson disease is caused due to an inherited autosomal recessive mutation and in an autosomal recessive disease the child has to inherit the gene mutation from both parents, which increases the likelihood for the disease as the chance of inheriting autosomal recessive mutations from parent with gene mutation is one in four or 25%. Furthermore, both men and women develop Wilson’s disease at equal rate and symptoms for Wilson’s disease appear between ages 5 to 35. Increasing number of population is expected to drive growth of the Wilson’s disease treatment market over the forecast period, majorly in densely populated economies such as China and India. Increasing awareness and high expenditure on healthcare is also expected to fuel growth of the Wilson’s disease treatment market.
Various medications such as D-Penicillamine, trientine, zinc, tetrathiomolybdate can be used for treatment of Wilson’s disease. Furthermore, adoption of healthy diet and nutrition with medications can accelerate treatment of the Wilson’s disease. Moreover, liver transplantation can be conducted as a part of treatment if other treatments are not effective, as liver transplantation is necessary if cirrhosis leads to liver failure or acute liver failure.
Key takeaways of the market:
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