Progressive Supranuclear Palsy Treatment Market will grow at 5.3% CAGR, to be valued at US$ 20.68 Million by 2027, Finds Coherent Market
SEATTLE, April 14, 2021, (PHARMIWEB) — Global Progressive Supranuclear Palsy Treatment Market
Progressive supranuclear palsy (PSP) is a neurodegenerative disease that can cause problems with swallowing, speech, movement, vision, and balance. It is a rare brain disorder occurs due to damage to nerve cells in the brain. With good care and attention to nutritional and medical needs, an individual with progressive supranuclear palsy can live many years. However, currently, there is no cure and no treatment to slow down PSP.
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Increase in drug development for the treatment of progressive supranuclear palsy is expected to propel growth of the global progressive supranuclear palsy treatment market during the forecast period. For instance, in September 2020, Alzprotect announced the recruitment of the first five patients to be participated in its Phase IIa clinical trial with its drug candidate AZP2006 (EZEPROGIND) for progressive supranuclear palsy (PSP) treatment.
Moreover, the company received an orphan drug designation by the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA).
The emergence of COVID-19 has affected the financial condition of businesses in all sectors. The pandemic has placed an economic burden on the healthcare sector. One of the major sectors most affected by the global epidemic is private healthcare.
Moreover, the outbreak has also affected the supply, production, and development of drugs and other healthcare products. Thus, the emergence of COVID-19 is expected to impede the global progressive supranuclear palsy treatment market growth over the forecast period.
Misidentification or diagnosis of progressive supranuclear palsy and failure of drug results in clinical trials is expected to hamper the global progressive supranuclear palsy treatment market growth. For instance, a biopharmaceutical firm, AbbVie halted its Phase 2 trial for progressive supranuclear palsy with its anti-tau antibody ABBV-8E12, in July 2019.
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By Drug Type:
- Anticholinergic Agents
- Tricyclic Antidepressants
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
North America is expected to witness robust growth in the global progressive supranuclear palsy treatment market due to the increasing prevalence of progressive supranuclear palsy in the region. According to the National Organization for Rare Disorders (NORD), each year, PSP affects around 20,000 people in the United States.
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Key players active in the global progressive supranuclear palsy treatment market are Acorda Therapeutics Inc., AbbVie Inc., Bristol-Myers Squibb Co., Biogen Inc., UCB Biopharma, Merck & Co. Inc., Asceneuron Therapeutics, AlzProtect, GlaxoSmithKline PLC, TauRx Pharmaceuticals, Teva Pharmaceutical Industries Ltd and Novartis AG.About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
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