The Epidermolysis Bullosa therapeutics market is witnessing considerable growth owing to the increasing focus on developing novel therapies for treating different types of rare skin diseases. Epidermolysis bullosa (EB) encompasses a group of rare inherited disorders that cause easy blistering of the skin and mucous membranes. The major symptoms include blistering and shedding of the skin. Currently, there is no cure and the existing treatment options only provide symptomatic relief.
Key Takeaways
Key players operating in the Epidermolysis Bullosa market are Amryt Pharma, Abeona Therapeutics, Castle Creek Pharmaceuticals, RegeneRx, Krystal Biotech, RHEACELL GmbH, Holostem Terapie Avanzate, StemRim/Shionogi, and Phoenix Tissue Repair. Amryt Pharma’s Oleogel-S10 is currently in Phase 3 clinical trials. Key players are focusing on developing gene and cell therapies to provide a permanent cure.
The growing demand for effective therapeutics and increasing research funding for developing novel therapies are supporting the market growth. With no approved treatment options, the need for developing therapies is immense. Various pipeline candidates are under clinical trials which is anticipated to bring permanent treatment options.
The market is witnessing significant expansion in key regions such as North America, Europe, and Asia Pacific. Increasing awareness about EB, rising healthcare expenditure, and availability of advanced healthcare infrastructure are boosting the regional markets. Various collaborations between research institutes and pharmaceutical companies are also contributing to the global expansion of the EB therapeutics market.
Market drivers
Rising research and development activities: Considering the lack of approved treatment options, pharmaceutical companies and research institutes are increasingly focusing on developing novel therapeutics. Significant investments are being made to advance the pipeline drugs which is the major growth driver. Various gene and cell-based therapies are under clinical trials which is anticipated to provide a permanent cure.
Impact of geopolitical situation on Epidermolysis Bullosa Market growth
The Epidermolysis Bullosa Market is witnessing growth barriers due to several geopolitical issues across globe. Changes in international trade policies, rising conflicts between countries and emergence of new variants of COVID-19 continues to impact the movement of goods and talent. This affects both clinical trials and regular operations of market players. Additional costs associated with adapting to new norms has also slowed down research activities. However, rising incidence of EB, increasing awareness about orphan diseases and focus of governments as well as non-profit organizations in funding research on rare diseases is countering several challenges. If governments collaborate to streamline policies regarding cross-border clinical trials and research funding, it can help expedite development of new treatment options. Continuous monitoring of geopolitical changes and diversifying supply chains will be crucial for businesses to mitigate risks.
Fastest growing regions for Epidermolysis Bullosa Market
The Asia Pacific region is expected to witness the fastest growth in the Epidermolysis Bullosa Market during the forecast period. This can be attributed to rising healthcare expenditure, increasing patient awareness about rare disease treatment options, growing research collaborations between regional and global market players. Additionally, presence of developing economies like India and China provide manufacturers relatively less stringent regulatory scenarios for clinical trial operations. North America currently dominates the market in terms of revenue owing to well-established healthcare infrastructure and high adoption of advanced treatment methods. However, Europe is also emerging as a major regional market with initiatives by non-profit communities to support EB research.
Regions where Epidermolysis Bullosa Market is concentrated in terms of value
Currently, North America holds the leading share of the global Epidermolysis Bullosa Market in terms of value. The major factors influencing the large market share of the region are increasing awareness about rare diseases, rising healthcare spending, and advanced healthcare systems. The region is also expected to grow at a moderate rate during the forecast period. Western Europe is also considered a high-value regional market due to the presence of major pharmaceutical players, streamlined regulatory frameworks for orphan drug development, and supportive patient assistance programs. However, with rising disposable incomes, Asia Pacific has displayed potential to grow at a faster pace and emerge as one of the most lucrative regional markets over the next few years.
Comments
0 comment