Spain Huntington's Disease Therapeutics Market Analysis

Spain Huntington's Disease Therapeutics Market Analysis Summary

Spain Huntington's Disease Therapeutics Market is valued at around $16.4 Mn in 2022 and is projected to reach $67.89 Mn by 2030, exhibiting a CAGR of 19.43% during the forecast period 2023-2030.

In some parts of the brain, Huntington's disease (HD), an inherited condition, causes the progressive degeneration and death of nerve cells (neurons). Multiple parts of the brain are affected by the disease, including regions linked to the control of voluntary (intentional) movement.

One of the primary reasons influencing the market expansion for therapies for the condition is the onset of Huntington's disease symptoms, which increases the need for HD treatments. No of a person's cultural origins, HD affects both boys and females equally. An individual may suffer symptoms at any time in life due to the hereditary basis of the disorder. The person who inherits the disease-causing genes from their ill parents will probably become ill at some point in their lifespan.

The huge rise in the number of patients is one of the main market factors because it increases the demand for drugs and the biggest regional market for the treatment of Huntington's condition is North America.

The direct genetic test, which uses DNA extracted from a blood sample to quantify the number of CAG repeats in the HD gene, is the most accurate and trustworthy way to diagnose HD. Getting 36 or more repeats demonstrates the presence of HD. The aging global population and rising knowledge of Huntington's Disease and early detection are projected to fuel the market for therapeutics for the condition in the years to come. The market may yet have difficulties with regard to obtaining regulatory permission and funding for therapies, as well as the high price of various drugs and treatments involved in the same. Some of the key players in the global Huntington's Disease Therapeutics Market include Pfizer, Inc. Alnylam Pharmaceuticals Inc. Teva Pharmaceutical Industries Ltd. Neurocrine Biosciences, Inc. Ionis Pharmaceuticals, Vertex Pharmaceuticals Incorporated (U.S.), Elekta AB (Sweden), Alterity Therapeutics (Australia) and som biotech (Spain).

Market Dynamics

Market Drivers

The market for treating huntington's disease continues to expand due to a variety of causes, such as an increase in the incidence of the illness and a rise in the need for novel drug types to treat the disease's symptoms. Clinical studies and a robust drug pipeline are two other aspects of Huntington's disease treatment market that are anticipated to support the industry's expected rise.

Government initiatives to increase awareness of disease: Governmental organizations constantly roll out new initiatives, campaigns, and beneficiary programs all over the world to raise public awareness of this ailment and tell patients about their available treatment options. As a result of these efforts, which are predicted to raise the number of cases of the disease that are diagnosed, the demand for cutting-edge drugs is anticipated to rise. A code on genetic testing and insurance that the Association of British Insurers (ABI) and the U.K. government have signed states that if the predictive genetic test for this ailment is successful, the applicant will receive life insurance coverage for more than $694,444.4. The market will grow as a result of such government measures encouraging early detection and prompt treatment of patients with Huntington's disease.

Increasing Healthcare Expenditure: This market is expanding as a result of rising healthcare spending in both developed and developing nations. This demand is fueling the development of novel drug types to treat the disease's symptoms.

Growing Interest in Personalised Medicine: In the years to come, it is anticipated that the interest in individualized medicine will continue to fuel the development of Clinical studies and a robust drug pipeline for Huntington's disease treatment.

Market Restraints

Strict regulatory hurdles and a lack of licensed drugs may prevent the market from growing. Effectively two drugs that only treat or manage the disease's symptoms rather than its actual reason have received approval for chorea treatment. If chorea, one of a patient's primary and earliest physical symptoms, is neglected, it gets worse with time. Companies must submit to strict regulations from all around the world in order to obtain a license for their products.

For instance, clinical trials were initiated by Ionis Pharmaceuticals and F. Hoffmann-La Roche Ltd. to assess the effectiveness of tominersen in patients who developed this illness as younger adults. Tominersen, often referred to as IONIS-HTTRx and RG6042, is a research-stage antisense medication with the goal of reducing the production of the Huntington (HTT) protein. In March 2021, both companies stopped overseeing the Phase II GENERATION HD1 trial, against the Independent Data Monitoring Committee's (iDMC) recommendation that it be ended. The tight regulations prevented many pipeline prospects from demonstrating their efficacy, and many companies decided not to proceed with the pharmaceutical development process.

Even though the healthcare system was concentrating on the COVID-19 epidemic, these patients still need comprehensive care because Huntington's disease is a degenerative illness. It was further demonstrated that home treatment was preferred to inpatient rehabilitation. Therefore, it is anticipated that the COVID-19 epidemic will negatively affect the expansion of the world market for treating Huntington's disease.