The primary market participants are concentrating on getting product approvals from regulatory bodies, which is anticipated to fuel the expansion of the worldwide Friedreich’s ataxia market throughout the forecast period.
For instance, the American pharmaceutical firm Reata Pharmaceuticals, Inc. reported in November 2021 that the US Food and Medication Administration (US FDA) had granted them Fast Track Designation for its experimental drug Omaveloxolone, which is indicated for the treatment of Friedreich’s ataxia.
In Wuhan, China, a COVID-19 epidemic was first noted on December 31, 2019. Up to May 15, 2022, approximately 519 million illnesses and 6.3 million fatalities worldwide were attributed to the coronavirus (COVID-19), according to the World Health Organization’s Weekly Epidemiological Update.
Due to lockdowns and interruptions in the availability of raw materials needed to produce medications, the COVID-19 pandemic has already had an impact on a number of markets throughout the world. It is anticipated that this impact will also be felt by the global Friedreich’s ataxia market. Due to the quick progress made in the treatment of Friedreich’s ataxia during the COVID-19 pandemic, it is anticipated that the COVID-19 pandemic will have only a minor detrimental effect after the lockdown.
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For instance, to highlight developments in the field of Friedreich’s ataxia treatments, the Friedrich’s Ataxia (FA) Scientific Symposium was organised in the United States in September 2021. One of the developments is a Phase 2 clinical research that PTC Therapeutics, a pharmaceutical firm with headquarters in the United States, started in December 2020 to assess its drug candidate Vatiquinone for the treatment of Friedrich’s ataxia. By September 2023, this clinical study is anticipated to be finished.
To improve their position in the industry, major businesses are concentrating on implementing inorganic development tactics, such as partnerships and others. For example, Chondrial Therapeutics, Inc., a clinical-stage biotechnology company with headquarters in the United States that focuses on developing treatments for rare diseases like Friedreich’s ataxia, announced the completion of its merger with Zafgen, Inc., a biopharmaceutical company with headquarters in the United States, and will now operate as Larimar Therapeutics, Inc.
Increasing research and development efforts by market participants for the creation of therapies for Friedreich’s ataxia are predicted to result in a CAGR of 13.0% for the global Friedreich’s ataxia market over the forecast period. For instance, PTC Therapeutics, Inc. announced the beginning of the registration-directed Phase 3 MOVE-FA trial in November 2020 to examine vatiquinone (PTC743) in children and adolescents with Friedreich’s ataxia (FA).
Due to market participants’ increased attention on obtaining regulatory approvals for cutting-edge therapies for Friedreich’s ataxia in the area, the North American sector is anticipated to have the biggest market share among the regions in 2022. For instance, the American pharmaceutical company Retrotope Inc. announced in February 2021 that the US Food and Drug Administration (US FDA) had granted rare paediatric disease designation to investigational drug RT001 for the diagnosis of infantile neuroaxonal dystrophy (INAD) along with Friedreich’s ataxia.
Intas Pharmaceuticals Ltd., Reata Pharmaceuticals, Inc., Torrent Pharmaceuticals Ltd., Retrotope Inc., Sun Pharmaceutical Industries Ltd., Minoryx, Aurobindo Pharma Ltd., PTC Therapeutics, GlaxoSmithKline Plc., Design Therapeutics, Cipla Limited, Larimar Therapeutics, Zydus Lifesciences Ltd., Jupiter Neurosciences, Inc., and Lexeo Therapeutics, are significant market participants in the global Friedreich’s ataxia market.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Friedreich’s Ataxia Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Friedreich’s Ataxia Industry Impact
Chapter 2 Global Friedreich’s Ataxia Competition by Types, Applications, and Top Regions and Countries
2.1 Global Friedreich’s Ataxia (Volume and Value) by Type
2.3 Global Friedreich’s Ataxia (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Friedreich’s Ataxia Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Friedreich’s Ataxia Market Analysis
Chapter 6 East Asia Friedreich’s Ataxia Market Analysis
Chapter 7 Europe Friedreich’s Ataxia Market Analysis
Chapter 8 South Asia Friedreich’s Ataxia Market Analysis
Chapter 9 Southeast Asia Friedreich’s Ataxia Market Analysis
Chapter 10 Middle East Friedreich’s Ataxia Market Analysis
Chapter 11 Africa Friedreich’s Ataxia Market Analysis
Chapter 12 Oceania Friedreich’s Ataxia Market Analysis
Chapter 13 South America Friedreich’s Ataxia Market Analysis
Chapter 14 Company Profiles and Key Figures in Friedreich’s Ataxia Business
Chapter 15 Global Friedreich’s Ataxia Market Forecast (2022-2028)
Chapter 16 Conclusions
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