Unmet Medical Needs Drive the Global Huntington’s Disease Therapeutics Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) July 01, 2013 -- Follow us on LinkedIn – Huntington’s Disease (HD) is a disorder of the brain transmitted through autosomal dominant inheritance. The disease is one of the most common hereditary diseases. The global Huntington’s Disease (HD) therapeutics market is vastly underserved with only one approved product, Xenazine®. Xenazine® is the only FDA approved pharmaceutical in the United States indicated for HD and prescribed for the treatment of chorea associated with the disease. Huntington’s Disease is a relatively rare neurodegenerative disorder, and hence the price of Xenazine® is placed at a premium due to its 'orphan drug’ status. The global market is forecast to witness significant growth attributed mainly to the high costs of this single existing approved therapy.
Xenazine® in the year 2008 was approved as a medication for Chorea in the US, while the drug’s generic version, Tetrabenazine has been in use for over three decades in many countries throughout Europe. Successful launch of late stage drugs currently in pipeline has the potential to offer stiff competition to Xenazine® in the future. Alternative therapies like speech therapy, psychotherapy and physiotherapy among others are also benefitting alongside therapies prescribed for addressing psychiatric symptoms associated with the disease.
Currently, HD therapeutics are limited to symptomatic treatments and there are no treatment options with proven safety and efficacy to slowdown disease progression or enhance survival rate. Due to lack of approved medications, the clinical needs of HD therapeutics are largely met with off-label use of conventional anti-epileptics and anti-psychotics prescribed for the treatment of severe emotional disturbances as well as motor impairment characteristics associated with the disorder. Off-label use of medications is widespread due to the lack of approved alternatives.
The absence of curative treatment options has led manufacturers to increase investment in R&D for quickly transforming their concepts into proprietary technologies and innovative solutions. Pipeline drugs with high patient compliance, improved safety, efficacy profiles, and affordability have an opportunity to achieve blockbuster status in the global market. Further, increasing numbers of pre- and post-symptomatic patients has further ignited the interests of market participants in conducting clinical research in the realm of HD therapeutics. The coming years will therefore attract Big Pharma investment. Earlier, the market failed to invoke Pharma investment in drug research for the disease, because of the relatively smaller number of patients with HD when compared to other neurodegenerative diseases. However, with the identification of basic research as well as a number of targets for drugs, the scenario is up for a change attracting pharmaceutical companies to invest in HD research.
As stated by the new market research report on Huntington’s Disease Therapeutics, the United States represents the largest and the fastest growing market worldwide. In the US, the HDSA (Huntington’s disease Society of America) is currently working towards obtaining support for a bill, Huntington’s Disease Parity Act, which could waive off the existing 2-year waiting period for HD patients for gaining eligibility for disability assistance through Medicare and Medicaid.
Major players in the marketplace include Alnylam Pharmaceuticals Inc., AmpliPhi Biosciences Corp, Ceregene Inc., Cortex Pharmaceuticals Inc., Intellect Neurosciences Incorporation, Prana Biotechnology Limited, Raptor Pharmaceuticals Corp, Teva Pharmaceutical Industries Ltd., Trophos S.A., Valeant Pharmaceuticals International Inc., and Vertex Pharmaceuticals Incorporated.
The research report titled "Huntington’s Disease Therapeutics: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the market, current trends, growth drivers, research pipeline, research breakthroughs, recent industry activity, clinical trials, profiles of select players. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Europe (France, Germany, UK, Spain, and Rest of Europe), and Rest of World.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Huntingtons_Disease_Therapeutics_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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