Krabbe disease is an incurable medical condition where the protective coating of nerve cells around the brain are destroyed which causing nerve damage. The global Krabbe disease treatment market can reach a significant valuation, exhibiting a steady CAGR over the forecast period of 2016 to 2022, as per a research report published by Market Research Future (MRFR). The market has been growing continuously on account of increasing incidence of Krabbe disease across the globe. Classification of Krabbe disease under orphan disease has propelled the growth of the market. Pharmaceutical companies receive incentives to develop medicine for rare disease along with reduced fees in protocol assistance and protection from competition after the medicine is marketed. Increased government funding for drug development and easy approvals, tax credits on clinical research, reduction in the amount of registration fees also aid the growth of the market. These factors also promote research and development activities which further boosts the market growth. Increasing awareness about the disease coupled with the development of tests for screening patients is a crucial market driver.
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The global Krabbe disease treatment market is highly competitive with the presence of various large and small vendors. The notable players of the market include
- Abbott Laboratories
- Novartis AG
- Sanofi-Aventis SA
- UCB Pharmaceuticals
- Teva Pharmaceutical Industries Ltd
- Johnson & Johnson,
- The global Krabbe disease treatment market has been segmented based on type of treatments and end users.
- By type of treatments, the market has been segmented into anticonvulsant medication, physical therapy, muscle relaxer drugs, bone marrow transplantation and others.
- By end users, the market has been segmented into hospitals and clinics, research centers, laboratories and others.
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The key markets of the global Krabbe disease treatment market include North America, Europe, Asia Pacific and the Middle East & Africa. North America leads the market for global Krabbe treatment owing to rise in the screening of the disease and government support for the diagnosis and treatment. Europe follows North America closely and is led by the Scandinavian nations such as Finland and Norway. Asia Pacific is poised to grow at the fastest rate due to large unmet needs and growing awareness about the disease in the developing economies of the region. Asia Pacific market is expected to be led by Japan, China, and India. The Middle East and Africa market are expected to exhibit steady growth and led by Israel. However, the African continent is foreseen to yield weak growth due to poor socio-economic conditions and lack of healthcare penetration in the less developed regions of Africa. South Africa and Egypt are likely to be the key contributors.
A new life-saving saliva test has been developed which will allow the screening of newborns for Krabbe disease and various other conditions. The test will facilitate identification even before any symptoms become apparent and has been developed by a Sydney-based pathology lab, Genepath.
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