Skeletal Dysplasia Market to Grow with a CAGR of 7.00% through 2028
The emergence of
precision medicine, global collaboration, and regulatory incentives are
expected to drive the Global Skeletal Dysplasia Market growth in the forecast
period, 2024-2028.
According to
TechSci Research report, “Skeletal Dysplasia Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Skeletal Dysplasia Market stood at USD 2803.15 million in 2022 and is
anticipated to grow with a CAGR of 7.00% in the forecast period, 2024-2028.
This can be attributed to regulatory incentives. Governments and regulatory
agencies in various countries have recognized the need to incentivize research
and development for rare diseases. Incentives may include orphan drug status,
which provides financial incentives and market exclusivity for pharmaceutical
companies developing treatments for rare diseases. These incentives encourage
investment in research and the development of innovative therapies for skeletal
dysplasia.
Moreover,
advances in prenatal genetic testing are allowing for earlier and more accurate
diagnosis of skeletal dysplasia during pregnancy. This empowers expectant
parents with the information needed to make informed decisions about their
pregnancy and prepare for the specialized care their child may require after
birth.
The growth of
the market is expected to be driven by the introduction of innovative
pharmaceuticals and the presence of upcoming product pipelines. For instance,
Amgen Inc. is currently in the phase III clinical trial stage of developing
Denosumab, a treatment for Osteogenesis Imperfecta (OI), commonly known as
brittle bone disease. OI is a type of skeletal dysplasia characterized by
significantly short limbs. Likewise, Merck KGaA is advancing recombinant human
growth hormone (r-hGH) through phase II clinical trials for the treatment of
hypochondroplasia. In parallel, BioMarin is in the process of conducting phase
III clinical trials for BMN 111, a potential treatment for achondroplasia in
children. Achondroplasia is a form of skeletal dysplasia that hinders the
transformation of cartilage into bone.
Furthermore, the
market is expected to benefit from the increased awareness of skeletal
dysplasia. Online resources such as the Fetal Medicine Foundation and
SKELDYS.ORG provide valuable information on the diagnosis and available
treatment options for various types of skeletal dysplasias. Additionally, the
emergence of novel drug therapies for treating this disorder is anticipated to
contribute to market growth during the forecast period. Promising therapeutic
approaches include gene therapy involving allele silencing and cell-based
treatments such as mesenchymal cell and bone marrow transplantation.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Skeletal Dysplasia Market.”
Based on its treatment,
the skeletal dysplasia market is segmented into medication and surgical
interventions. In 2022, surgical procedures dominated the market, primarily due
to their high efficacy in treating conditions like achondroplasia and HPP. The
growing preference among patients for surgical interventions is expected to be
a key driver for the growth of this segment.
Conversely, the
medication segment is projected to experience the most rapid growth during the
forecast period. This growth can be attributed to increasing efforts and
initiatives aimed at the development of innovative pharmaceuticals for
addressing specific types of skeletal dysplasia, such as FOP and MO.
Based on region,
Europe emerged as the dominant force in the global skeletal dysplasia market in
2022. This leadership position can be attributed to the widespread adoption of
surgical treatments and an increasing awareness of the disease within the
region. For example, the European Skeletal Dysplasia Network (ESDD), a
non-profit organization, plays a pivotal role by establishing an integrated
diagnostic and research network dedicated to skeletal dysplasia. Various
organizations in Europe are also actively engaged in conducting epidemiological
studies aimed at raising awareness about skeletal dysplasia and providing
essential information to patients and their families. An illustrative example
is the European Commission's publication of a population-based epidemiological
study on achondroplasia in 2019. According to data from the European
Surveillance of Congenital Anomalies (EUROCAT) network, the prenatal detection
rate of achondroplasia increased significantly from 36% between 1991 and 1995
to 71% between 2011 and 2015.
Looking ahead to
2028, North America is expected to experience the most rapid growth in this
market. This growth can be attributed to the rising prevalence of skeletal
dysplasia and increased research and development initiatives focused on the
development of effective pharmaceutical treatments. For instance, according to
a 2018 article published by the American Dental Association, approximately
12,000 adults and 3,000 children in the United States are affected by XLH,
highlighting the need for innovative treatments.
Major companies
operating in Global Skeletal Dysplasia Market are:
- BioMarin Pharmaceutical Inc
- Amgen Inc
- Merck KGaA
- Regeneron Pharmaceuticals Inc
- Alexion Pharmaceuticals Inc/MA
- Ipsen Pharma SA
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“The global
skeletal dysplasia market is on the brink of transformative change. Emerging
trends in genomics, precision medicine, gene therapy, orphan drug development,
AI diagnosis, telemedicine, patient-centric care, prenatal diagnosis, and
global collaboration are poised to redefine the landscape for individuals
living with skeletal dysplasia. As these trends continue to evolve, there is a
promising future ahead, with the potential for more effective treatments,
earlier diagnoses, and improved quality of life for those affected by these
rare genetic disorders,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Skeletal Dysplasia Market By Type
(Achondroplasia, Fibrodysplasia Ossificans Progressive, Hypophosphatasia,
Multiple Osteochondromas, X-linked Hypophosphatemia), By Treatment (Medication,
Surgery), By End User (Hospitals & Clinics, Ambulatory Care Centers,
Others), By Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Skeletal Dysplasia Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Skeletal Dysplasia Market.
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