The Australian FOP therapeutics market size stood at around USD XX billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Fibrodysplasia ossificans progressiva (FOP) is a rare genetic disorder in which muscle tissue and connective tissue such as tendons and ligaments are replaced by bone, forming bone outside the skeleton (extra-skeletal or heterotopic bone) which restricts the movement of that part of the body. This disorder most often starts in early childhood and it begins from the shoulders and neck, then it goes down through the rest of the body, as patients gets older the bone replaces more and more of soft tissue and its progression vary from person to person.
The rise in market value can be attributed to the introduction of new treatments and therapies and development in the healthcare expenditure and the government support for the research & development for new and better treatment have fuelled the market growth.
A market driver could be rising demand for innovative treatments and cures. The market is also growing as people become more aware of Fibrodysplasia Ossificans Progressiva and how to treat it. The government’s assistance for research and development for new and improved treatments may help to boost the market’s growth. Increased healthcare spending will also help the market thrive. Introduction of novel therapies and increase in cases of FOP are likely to be major drivers of the FOP treatment market. Delay in achieving the correct FOP diagnosis, lack of supporting regional infrastructure to patients and families and inability of individuals with FOP in remote or underserved areas to reach FOP community are the factors that are hampering the market.