The fanconi anemia drug market comprises drugs that are used for treating fanconi anemia, a rare inherited blood disorder that leads to bone marrow failure and an increased risk of developing certain cancers. Some key drugs in the market include luspatercept, elotuzumab, lenalidomide among others. Fanconi anemia is a rare genetic disorder characterized by bone marrow failure and a predisposition to develop blood cancers like leukemia. The genetic disorder disrupts the body's ability to repair DNA damage. As per estimates, fanconi anemia affects about 1 in every 100,000 to 200,000 individuals worldwide. The growing prevalence of genetic disorders and rising research activities in orphan drugs development are anticipated to drive the growth of the market during the forecast period. The global fanconi anemia drug market is estimated to be valued at US$ 661.71 Bn in 2024 and is expected to exhibit a CAGR of 14.% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the fanconi anemia drug market are Abbott Laboratories, Pfizer Inc., Abbvie Inc., Biocon, F. Hoffmann-La Roche Ltd., PerkinElmer, Inc., Astrazeneca Plc., Illumina, Inc., Sanofi S.A., Qiagen, Twist Bioscience, Thermo Fisher Scientific Inc., Biointron, Merck & Co., Inc., Sino Biological Inc., GeneWiz (Azenta Life Sciences), Danaher Corporation, and Synbio Technologies.
Some of the key opportunities in the global fanconi anemia drug market include development of targeted therapies and gene therapies for better treatment outcomes. With growing research on gene editing tools like CRISPR for developing new therapeutic approaches, targeted gene therapies hold promise for fanconi anemia.
Globally, companies are expanding their footprint in developing regions like Asia Pacific and Middle East & Africa owing to less stringent regulations and growing awareness about genetic diseases. Partnerships with regional healthcare providers and contract manufacturing units are helping companies cater to untapped markets.
Market Drivers
Growing prevalence of genetic disorders like fanconi anemia is a major factor expected to drive the growth of the Fanconi Anemia Drug Market Demand during the forecast period. According to estimates, around 1 in every 130,000 children in the US is born with Fanconi anemia.
Introduction of new targeted drugs and pipeline molecules in clinical trials provides lucrative opportunities for growth of the market. For instance, in June 2022, Astellas received FDA approval for Xospata (gilteritinib), a FLT3 inhibitor for relapsed/refractory AML with FLT3 mutations.
Market Restraints
High cost of development of orphan drugs and lack of sufficient patient population for clinical trials are some of the key challenges restraining the growth of the fanconi anemia drug market. According to estimates, it costs around $1-2 billion and takes over 10 years to develop an orphan drug from bench to bedside.
Segment Analysis
The fanconi anemia drug market is segmented into chelation therapy, anti-fungal drugs, antibacterial drugs, and antineoplastic drugs. The chelation therapy segment dominates the market owing to rising prevalence of blood, bone marrow and organ transplants for patients with fanconi anemia. Chelation therapy helps remove excess iron from the body and reduces organ damage in patients undergoing multiple blood transfusions.
Global Analysis
Regionally, North America is expected to dominate the fanconi anemia drug market during the forecast period. This is attributed to increasing research activities for orphan drugs, rising healthcare expenditure, and presence of major players in the region. Europe is predicted to show lucrative growth in the fanconi anemia drug market due to rising awareness regarding rare diseases and availability of funds for research. However, Asia Pacific is likely to witness highest CAGR owing to improving healthcare infrastructure, increasing healthcare spending by governments of emerging countries such as China and India, and growing incidence of fanconi anemia.
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