Wilson’s disease treatment market to gain rapid traction, with increasing awareness towards the Wilson’s disease
The Global Wilson’s Disease Treatment market was valued at US$ 392.0 million in 2016 and is projected to expand at a CAGR of 6.0% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Rampant increase in incidence rate of Wilson’s disease inadvertently fuels growth of the market.
Manufacturers are focusing on drug innovation to tap into emerging markets of Asia Pacific, given their increasing spending on healthcare. For instance, Valeant Pharmaceuticals International Inc. announced the support regarding Wilson’s disease by providing US$ 100,000 fund for patient awareness and research into the treatment of Wilson’s disease. Whereas, Valeant Pharmaceuticals International. Inc. also sells its medication for Wilson’s disease under the Valeant coverage plus policy that assists customers to identify the best cost saving options. Furthermore, small manufacturers are launching tablets for Wilson’s disease under the licensed agreement with big manufacturers for example, Noblepharma Co., Ltd. Launched Nobelzin tablets under the licensed agreement with TEVA Pharmaceuticals.
Furthermore, manufacturers are also involved in R&D for novel drugs and vaccine. For instance in 2016, Merck & Co., Inc. invested US$6.8 Bn on research and development.
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It is expected that the increase in population prevalence will favor the growth of Wilson’s disease treatment market in the near future. Especially, in countries such as China and India where there is a rapid increase in the population. Growth in awareness and increased expenditure on healthcare is also expected to fuel growth of the Wilson’s disease treatment market. Wilson disease is caused by an inherited autosomal recessive mutation and in an autosomal recessive disease the child has to inherit the gene mutation from both parents which increases the likelihood for the disease as the chance of inheriting autosomal recessive mutations from parent with gene mutation is one in four or 25%. Furthermore, both men and women develop Wilson’s disease at equal rate and symptoms for Wilson’s disease appear between age 5 to 35 but however new cases have been reported between age of 3 to 72 years.
Wilson’s disease can be treated by various medications such as D-Penicillamine, trientine, zinc, tetrathiomolybdate. Change in diet and nutrition with medications can also help to treat the Wilson’s disease. Liver transplantation is necessary if cirrhosis leads to liver failure or acute liver failure. Else liver transplantation is also done if any other treatment is not effective to treat Wilson’s disease.
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Key takeaways of the market:
- The global Wilson’s disease treatment market is expected to expand at a CAGR of 6.0% during the forecast period (2017–2025). Due to rising awareness regarding Wilson’s disease around the globe is expected to favor growth of the market of Wilson’s disease treatment over the forecast period.
- The Asia Pacific Wilson’s disease treatment market is expected to show high growth rate during the forecast period in terms of value
- Among treatment types, medication segment is expected to expand at a significant CAGR of 6.0% over the forecast period. This is mainly attributed to increasing adoption of D-penicillamine, owing to its wide availability and high efficacy
- The global Wilson’s disease treatment market is characterized by market expansion in Asia Pacific, North America, and Europe could generate higher market revenue due to increase in population
- Some of the major companies offering Wilson’s disease treatments are Valeant Pharmaceuticals, Wilson therapeutics, tsumura & Co., Merck & Co., VHB Life Science Inc., and Teva Pharmaceuticals USA, Inc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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