In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Wilson disease, which is a genetic or hereditary disorder, is caused by the loss of function of the ATP7B gene. The ATP7B gene is known to form the copper-transporting ATPase 2 protein. When this gene undergoes mutation, it prevents the copper-transporting ATPase 2 protein from functioning properly. Wilson disease symptoms include abdominal pain, lack of appetite, fatigue, neurologic manifestations and psychiatric disturbances. In critical condition, it can cause acute liver failure which may lead to the need for a liver transplant. Wilson disease diagnosis can be difficult as the diagnosis criteria includes a combination of blood tests, urine tests and a liver biopsy. In many cases genetic testing is also done to diagnose the affected family members. The treatment of Wilson disease is done with the help of medications which includes zinc.
The global Wilson disease drugs market is thriving on the back of growing awareness among the people regarding the disease, coupled with the growing research activities for the development of advanced drugs. The Wilson disease drugs market is anticipated to record a significant CAGR over the forecast period, i.e., 2021-2029. The market is segmented by indication, drug type, and by end user. The drug type segment is further divided into chelating agents, zinc, tetrathiomolybdate, and others. Among these segments, the segment for chelating agents is anticipated to hold the leading share in the market on account of the enhanced efficacy of chelating agents for achieving symptomatic relief and for the less adverse effects in the long-term therapy of the drug type. Further, the chelating agents prevents the excessive deposition of copper in liver cells by expediting urine excretion of copper, which is also anticipated to drive the growth of the segment during the forecast period. Chelating agents are also known as chelants, sequestering agents, chelators and others. Some of the common chelating agents are 2,3-dimercaptopropanesulfonic acid (DMPS), ethylenediaminetetraacetic acid (EDTA) and thiamine tetrahydrofurfuryl disulfide (TTFD). Researchers are increasingly working on to develop copper-chelating agents, such as trientine, for the treating Wilson disease. CLICK TO DOWNLOAD SAMPLE REPORT
With the advent of various organizations and associations in the recent years, such as Wilson Disease Association, an organization that endorses research and clinical investigations for Wilson disease, as well as creates awareness regarding the latest happening on the symptoms and treatment of Wilson disease, are raising the awareness amongst individuals for such rare hereditary diseases, which is anticipated to drive the demand for Wilson disease drugs. Furthermore, rising introduction of patient assistance programs which provides considerable growth opportunities to the companies for the development of novel therapeutic drugs for the treatment of Wilson disease, is also anticipated to significantly expand the growth of the global Wilson disease drugs market during the forecast period.
Despite the improving healthcare infrastructure, there is a high cost associated with this drug when used for the treatment of the Wilson disease. In addition to this, the poor reimbursement policies in the developing countries is estimated to hinder the growth of Wilson disease drugs market in the future.
Our in-depth analysis of the global Wilson disease drugs market includes the following segments:
On the basis of regional analysis, the Wilson disease drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for Wilson disease drugs in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market Wilson disease drugs. Moreover, support from the government in the implementation of advanced healthcare technologies, coupled with the rise in the number of patients with hereditary disorders in the region is anticipated to drive the demand for Wilson disease drugs in the region. Conversely, the market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of the rise in awareness about this rare disorder along with the increase in healthcare expenditure in the region. The developing economies in the region, especially the countries such as China, India and Japan, is further anticipated to provide significant opportunities for the manufacturing of Wilson disease drugs, and in turn drive the growth of the market in the region.
The global Wilson disease drugs market is further classified on the basis of region as follows:
Ans: Growing awareness for rare hereditary and genetic diseases is one of the major factors driving the market growth.
Ans: The market is anticipated to grow with a significant CAGR over the forecast period, i.e., 2021-2029.
Ans: Some of the major players in the market are Merck & Co., Inc., Bausch Health Companies Inc., Alexion Pharmaceuticals, Inc., Nobelpharma Co., Ltd., Kadmon Holdings, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The Wilson disease drugs market is segmented by indication, drug type, end-user, and by region.
Ans: The chelating agents segment, which is a sub-segment of the drug type segment is anticipated to hold the largest market share on account of the less adverse effects of the drug type and enhanced efficacy as compared to other drugs.
Ans: Concerns for the high costs of Wilson disease drugs is one of the major factors estimated to act as barriers to the growth of the market.