The Australian Friedreich Ataxia (FRDA) 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.
Friedreich’s Ataxia (FRDA) is the common inherited ataxia in the Australian. FRDA is a genetic, progressive, neurodegenerative movement disorder, that primarily affects the nervous system and the heart with a typical age of onset between 10 and 15 years. The disease begins in childhood resulting into the impairment of muscle coordination that might get worse over time. FRDA is caused by mutation in a gene labelled FXN and people with FRDA inherit a mutation from each parent, so they have mutations in both copies of their FXN gene. This gene carries the genetic code for a protein ‘frataxin’.
Initial symptoms may include unsteady posture, frequent falling, and progressive difficulty in walking due to impaired ability to coordinate voluntary movements (ataxia). Affected individuals often develop slurred speech (dysarthria), characteristic foot deformities, and an irregular curvature of the spine (scoliosis), and cardiomyopathy. About a third of the people with FRDA develop diabetes mellitus.
Market Drivers and Constraints
The Australian Friedreich Ataxia Therapeutics market is primarily driven by promising pipeline drugs targeting treatment for Friedreich Ataxia, increase in geriatric population, and growing application of precision medicine in neurodegenerative diseases. Increasing incidence and prevalence of Friedreich Ataxia expected to boost the market growth during the forecast period.
Higher patient population with genetic strains of ataxia, and government initiatives to curb these disorders are anticipated to propel the market during the forecast period and various support organizations for patient diagnosis & treatment. Increase in number of drugs in clinical trials and rise in research & development expenditure for medication treating neurological conditions is projected to drive the market.
However, increase in cost of medical treatment, lack of awareness of rare diseases and occurrence of side effects in related current available treatments may hamper the Friedreich Ataxia Therapeutics market growth.