The Wilson's Disease Treatment Market is estimated to be valued at US$ 560.2 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Wilson's disease is an inherited disorder characterized by excessive copper accumulation in the liver and other parts of the body, including the brain. The main treatments for Wilson's disease include medication such as penicillamine and zinc supplements. Penicillamine works by removing excess copper from the body and zinc supplements help prevent copper absorption from the gastrointestinal tract. Use of medications can effectively treat symptoms and lower copper levels.
Market key trends:
The rising prevalence of Wilson's disease across the globe is expected to drive the market growth. According to the National Organization for Rare Disorders, the estimated prevalence rate of Wilson's disease is 1 in 30,000 in the U.S. and in Europe. Genetic factors play a key role in Wilson's disease and its prevalence varies across different ethnic populations. With increasing awareness about early diagnosis and treatment, the market is expected to witness significant growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in Wilson’s Disease Treatment Market is low as establishing manufacturing facilities and distribution channels for new entrants requires significant capital investment and knowledge of the complex disease.
Bargaining power of buyers: The bargaining power of buyers in the Wilson’s Disease Treatment Market is moderate as the disease affects a small patient base. However, the availability of generic drugs provides buyers with alternatives.
Bargaining power of suppliers: The bargaining power of suppliers in the Wilson’s Disease Treatment Market is moderate as suppliers of raw materials include established pharmaceutical companies and research organizations with specialized expertise.
Threat of new substitutes: The threat of new substitutes in the Wilson’s Disease Treatment Market is low as the disease has no close substitute treatment and alternatives provide limited efficacy.
Competitive rivalry: High due to major players fighting for market share.
SWOT Analysis
Strength: Established manufacturing and distribution capabilities of major players. Growing awareness and diagnosis rates have increased the patient pool.
Weakness: High capital requirements for R&D of novel drugs. Dependence on limited product pipelines makes companies vulnerable to competition.
Opportunity: Untapped growth opportunities in developing regions. Recent research progress can lead to novel drug discovery and expanded treatment options.
Threats: Stringent regulations delay market approvals and increase costs. Patent expiries introduce generic competition.
Key Takeaways
The global Wilson’s Disease Treatment Market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing awareness about early diagnosis and treatment.
Regionally, North America dominates Wilson’s Disease Treatment Market and is projected to maintain its lead over 2023-2030. This is attributed to strong healthcare infrastructure, high diagnosis rates, and growing patient awareness in the US and Canada. Europe holds the second largest share due to major players operating from the region and rising R&D investments. However, Asia Pacific is expected to witness the highest growth due to growing healthcare expenditures,populations, and improving access to diagnosis and care.
Key players operating in the Wilson’s Disease Treatment Market are Valeant Pharmaceuticals International, Inc., Noblepharma Co., Ltd., Wilson Therapeutics AB, Kadmon Holdings, Inc., Merck & Co., Inc., VHB Life Science Ltd., Teva Pharmaceuticals USA, Inc., and Tsumura & Co. Major players are focused on expanding their product portfolios through partnerships, collaborations for developing novel treatment therapies for Wilson’s disease.
