Epidermolysis bullosa (EB) refers to a group of rare conditions that cause blistering of the skin and mucous membranes due to any friction or mild trauma. The symptoms of EB can range from very mild to severe forms that can limit one's daily activities. EB therapeutics aims to provide relief from the blistering and wounding of the skin that are characteristic of these conditions. These include gene therapies, cell therapies, and topical medications that help promote wound healing. The global epidermolysis bullosa therapeutics market is estimated to be valued at US$ 3,429.30 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2023 to 2030.
Key Takeaways
Key players operating in the epidermolysis bullosa therapeutics are Amryt Pharma, Abeona Therapeutics, Castle Creek Pharmaceuticals, RegeneRx, Krystal Biotech, RHEACELL GmbH, Holostem Terapie Avanzate, StemRim/Shionogi, and Phoenix Tissue Repair. The research and development of new treatment options such as gene therapies provide opportunities for market growth. Global expansion and licensing agreements allow companies to expand their geographical presence and access new markets.
Market drivers
The high incidence and prevalence of EB globally is a major driver for the market. According to studies, EB affects 1 in 17,000 live births worldwide. The increasing research and development activities focused on developing effective therapies such as gene therapies, cell therapies, and novel topical medications are also fueling market growth. Investments from private and public sectors have accelerated clinical research for EB therapeutics in recent years.
PEST Analysis
Political: Funding and support from government organizations for research and development of new treatments can positively impact the market.
Economic: Rising healthcare expenditures and growing economies are increasing demand for effective treatments, driving market growth.
Social: Improved awareness about EB and available treatment options has encouraged patients to seek diagnosis and treatment.
Technological: Advancements in cell and gene therapies, and regenerative medicine offer new treatment alternatives and promise better outcomes. Continuous innovations in these areas can boost the market.
Geographical Regions with High Market Concentration
North America currently dominates the market due to established healthcare infrastructure, high awareness levels, and presence of key players. The United States accounts for the largest share owing to the concentration of major market players and availability of advanced treatment solutions.
Fastest Growing Regions
Asia Pacific is expected to witness highest growth over the forecast period owing to rising healthcare expenditure, increasing demand for advanced treatment options, and growing awareness about EB in regional markets like India and China. Additionally, growing research funding and improving healthcare infrastructure support market expansion in the region.
Comments
0 comment