Osteochondromas Treatment Market Report Size, Share, Growth, CAGR Value Analysis by 2027, Global Industry Overview, Merger, Technology Trends, Top Company Profile, Competitive Landscape, Regional Forecast
SEATTLE, April 14, 2021, (PHARMIWEB) — Overview:
Osteochondromas is a rare disease condition causing non-cancerous bone growth, which is mostly manifested in males and females in age group of 10 to 40 years. Osteochondromas is characterized as inherited and non-inherited osteochondromas. Osteochondromas tumors cause cartilages to overgrow. Generally these tumors affect the bones in the knee and in the forearm. Osteochondromas is also observed in children below age 10 and is known as hereditary multiple exostoses, whereas multiple osteochondromas is clinically manifested till the onset of puberty in individuals. Osteochondromas is clinically diagnosed with the help of X-ray, CT scan and Magnetic resonance index (MRI). For instance, according to the National Library of Medicine Report published in 2017, osteochondromas has prevalence value of 0.44 % in 1000 individuals globally and is most commonly diagnosed in patients aged 10 to 30 years.
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Furthermore, symptoms of osteochondromas are a hard mass present on the knees or forearms which are painless and do not move. One leg or arm is shorter or longer than the other in individuals suffering from osteochondromas, and symptoms are soreness of muscles near the tumor, pressure and irritation of the tumor formed on the knee or forearm after exercise.
Increasing focus towards research on the pathophysiology and genetic history of osteochondromas, is expected to drive growth of the global osteochondromas treatment market over the forecast period. For instance, in 2018, Istituto Ortopedico Rizzoli, a research institute in Italy, completed an observational study on osteochondromas. The study involved maintaining the Registry of Multiple Osteochondromas (REM), a retrospective and prospective registry which collects clinical, functional, genetic, genealogical, imaging, surgical, quality of life data of individuals diagnosed with osteochondromas. The registry of multiple osteochondromas helps to understand the inherited information of osteochonromas patients, patients follow up after extracting osteochondromata tumors.
Furthermore, major players are focused on strategies including mergers and acquisitions for developing an effective treatment for osteochondronmas. For instance, in 2019, Ipsen, a company developing medication in oncology and rare diseases, acquired Clementia Pharmaceuticals, a clinical-stage company that develops innovative treatments for people with ultra-rare bone disorder. The discovery will change the product portfolio of Ipsen Company’s rare diseases by focused on the formulation of the drug, palovarotene, a selective agonist to investigate retinoic acid in the treatment of people affected by multiple osteochondromas and fibrodysplasia ossificans progressiva (FOP), and other diseases.
COVID-19 Impact Analysis:
The COVID-19 epidemic has disrupted the growth of various markets and it is also expected to hinder growth of the global osteochondromas treatment market over the forecast period. Furthermore, osteochondromas can be treated through surgical procedures and pain relief medicines. Owing the COVID-19 epidemic, healthcare professionals are facing difficulties in performing surgical procedures. For instance, according to the US National Library of Medihecine Report published in May 2020, healthcare professionals should develop clear base plans regarding essential surgical services that need to be provided in emergency conditions, educating staff and train them on use of personal protection equipment, and also decrease the number of staff needed for surgical procedures and reduce the risk of COVID-19 infection.
Osteochondromas are tissue formation on a bone growth plate that can be treated with surgical procedures, such as osteochondromata tissue that can lead to complications such as superficial wound infections, hematoma formations, partial wound dehiscence, hypertrophic scar/keloid formation and cutaneous nerve entrapment in patients. These factors are expected to hamper growth of the global osteochondromas treatment market.
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Among regions, the global osteochondromas treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to witness highest market share in the global osteochondromas treatment market due to Pharmaceutical firms being pushed to spend further in research and development for effective treatments of osteochondromas For instance, In 2019, Keros Therapeutics, Inc., a company operating in the discovery and development of innovative treatments for rare neuromuscular diseases, received financial funding of US$ 23 million from Pontifax, Arkin Bio Ventures, Partners Innovation Fund, Medison Pharma, and Global Health Sciences Fund (GHS) for exploring novel treatment approaches for treatment of the most intractable neuromuscular diseases such as fibrodysplasia ossificans progressiva (FOP) and oncology including multiple osteochondromas.
Europe is expected to witness significant growth in the Global Osteochondromas Treatment market due to rising number of research and development by major players for the treatment of multiple osteochondromas diseases. For instance, in 2019, Ipsen, a company developing medications used in oncology, neuroscience, and rare diseases, announced that they are in phase 2 of clinical trials studying safety and efficacy of Palovarotene 2.5 mg and Palovarotene 5.0 mg for treatment of pediatric multiple osteochondromas.
Major players dominating in the global osteochondromas treatment market are Ipsen and Keros Therapeutics, Inc. among others.
On the basis of treatment, the global osteochondromas treatment market is segmented into:
- Surgical treatment
On the basis of age group, the global osteochondromas treatment market is segmented into:
On the basis of region, the global osteochondromas treatment market is segmented into
- North America
- Latin America
- Middle East
- Asia Pacific
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