The global Achondroplasia Treatment Market Growth Accelerated by Emerging Drugs and Approvals

Achondroplasia is a common form of dwarfism characterized by abnormal bone growth and disproportionate short stature. Achondroplasia treatment aims to improve final adult height by stimulating cartilage and bone growth. Growing research focus on developing novel therapeutics such as gene therapy, bone morphogenetic protein inhibitors and growth hormone is driving the achondroplasia treatment market.

The global Achondroplasia Treatment Market size is estimated to be valued at US$ 127.8 Mn in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The key trend fueling market growth is the emergence of new drugs in the pipeline. Companies are focusing on gene therapy approaches and bone morphogenetic protein inhibitors to treat the underlying cause of abnormal bone growth in achondroplasia. For instance, BioMarin received the FDA approval for vosoritide in 2023, which is the first drug approved to treat children with achondroplasia. Vosoritide is a C-type natriuretic peptide analog that works by inhibiting bone growth in areas of the body that terminate prematurely in achondroplasia patients. Ascendis Pharma's TransCon CNP is currently in phase 2 trials and holds potential to offer an alternative treatment option. Growing approval and availability of these novel therapies over the forecast period will significantly contribute to the market revenues.

Segment Analysis

The global achondroplasia treatment market is dominated by the drug therapy segment which accounted for nearly 70% market share in 2023. Drug therapy is the primary line of treatment for achondroplasia as it focuses on addressing the underlying genetic cause of the condition. Further, the ongoing research and clinical trials for developing novel drugs to cure achondroplasia is expected to drive the segment's growth over the forecast period.

Key Takeaways

The global Achondroplasia Treatment market is expected to witness high growth over the period of 2023-2030. With a projected CAGR of 36%, the market size is estimated to increase from US$ 127.8 Mn in 2023 to over US$ 1 Bn by 2030 on the back of strong research pipeline and increasing treatment seeking rate.

Regional Analysis

North America currently dominates the global achondroplasia treatment market owing to high awareness, robust research infrastructure and presence of leading manufacturers. The region accounted for over 40% market share in 2023 driven by the US which is also the fastest growing market. Asia Pacific is projected to witness the highest growth during the forecast period supported by rising healthcare expenditure, improving access to diagnosis and care in countries like China and India.

Key Players

Key players operating in the achondroplasia treatment market are BioMarin, RIBOMIC, Ascendis Pharma A/S, BridgeBio Pharma, Inc., Pfizer Inc., PhaseBio Pharmaceuticals, Inc., SiSaf, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, LG Chem, Ferring B.V., JCR Pharmaceuticals Co., Ltd, KVK TECH, INC., VIVUS LLC., ProLynx Inc., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Ipsen Pharma, Novartis AG, and Xiamen Amoytop Biotech Co., Ltd. Companies are focusing on advancing their product pipelines to address the unmet needs in achondroplasia treatment.

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