Frontotemporal Disorders Treatment Market Size Forecast to Reach $4.8 Billion by 2028
Frontotemporal Disorders Treatment Market size is forecast to reach US$ 4.8 billion by 2028, growing at a CAGR of 4.7% during the forecast period 2021-2028. With the severe dearth of FDA-approved drugs in the reliable treatment of frontotemporal disorders, frontotemporal disorders treatment continues to underscore the growing significance of disease management. As frontotemporal disorders treatment exclusively includes symptomatic efforts till date, the condition continues to attract research interests worldwide.
The available drugs and other means of frontotemporal disorders treatment do not stop or even decelerate the frontotemporal disorders progression, which further remains a key driving force for the growing demand for frontotemporal disorders treatment.
Frontotemporal disorders are often misdiagnosed as depression, Parkinson’s, Alzheimer’s, or any other psychiatric condition, thereby limiting the scope of adoption of frontotemporal disorders treatment.
Although clinical trials have been producing a number of interventions other than medication, a consistently high rate of clinical trial failure is cited as a significant factor influencing the prospects of frontotemporal disorders treatment in the near future.
The report highlights the critical role of governments as well as non-governmental non-profit organizations in terms of research grants and drug approvals. Expanding incentives for orphan drug development is identified as a prominent factor pushing the revenue growth of frontotemporal disorders treatment landscape.
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Demonstrating a moderate growth in the revenue year on year, the global landscape of frontotemporal disorders treatment market is slated to approach the US$ 3 billion mark in 2019. As presented in a newly published research intelligence on the global market scenario of frontotemporal disorders treatment, the revenue growth is predominantly driven by the progressing pace of clinical trials.
Discussing the revelations made by the study, says a senior research analyst at Future Market Insights says, “Although frontotemporal disorders are referred to as a symptomatic condition that has not witnessed a curative treatment as of now, an extensive clinical research targeting the discovery of breakthrough curative treatments is driving the growth of revenue at a steady rate”.
Strategic Collaborations Are Shaping the Competition in Fragmented Market
In a highly fragmented landscape of the global frontotemporal disorders treatment market, almost 70% of the companies offer generics as their key drug offerings. Operated by a large number of prominent international, multinational, and regional players, the market for frontotemporal disorders treatment is recently witnessing a heap of strategic deals, including acquisitions, collaborations, and alliances.
2017 was a year of partnerships for GlaxoSmithKline Plc. The company entered multiple strategic collaborations with giants such as Google and Alimama for improved marketing and advertising results. Further, with an objective to push the new drug discovery platform, GSK also signed a four-year contractual partnership with 23andMe. This deal is more likely to speed up the overall clinical progress in frontotemporal disorders treatment.
Moreover, several companies are constantly taking efforts in introducing new potential drugs post successful clinical trials, in the existing line of frontotemporal disorders treatment.
AstraZeneca plc. has recently inked an agreement with Luye Pharma Group, Ltd. over the licensing and sales of Seroquel and Seroquel XR across China, and the UK, in addition to a few other international markets. The drug is occasionally used to address a set of behavioral problems associated with FTD.
According to the taxonomy analysis of frontotemporal disorders treatment market presented in the report,
- Cognitive enhancers are currently contributing around 80% share in the total market value, securing the position of the most favored drug class incorporated in the treatment of frontotemporal disorders.
- On the other side, behavioral symptom management remains the most preferred type of treatment for patients of frontotemporal disorders, thereby accounting for nearly 60% share of the revenue generated in the global frontotemporal disorders treatment market.
- An extensive analysis of the frontotemporal disorders treatment landscape uncovers that around half of the market value belongs to the retail pharmacy segment, making it the most popular distribution channel for frontotemporal disorder drugs.
- Hospital pharmacies remain the second largest channel of distributioni in the frontotemporal disorders market, says the report.
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Frontotemporal Dementia Is Highly Prevalent
Based on the symptomatic indication, frontotemporal dementia (FTD), holding a massive market value share, remains the most common indication among all that continues to capture maximum clinical research interests.
Industry experts project that the rapid development of new FTD therapies will push collaborative activities among clinical research entities, educational institutions, academic laboratories, pharma and biotech centers, and the FDA.
Furthermore, FTD therapeutics are anticipated to witness a major contribution from pharmaceutical companies – eventually boosting the funding and clinical trial scenario.
Western Europe Accounts for the Lion’s Share in Market Value
Western Europe and North America collectively extend more than 55% share in the total market value, the former’s share is however projected to remain higher over the foreseeable future. APEJ, with an attractive revenue contribution at present, is projected to remain a highly lucrative regional market for potential investors in the frontotemporal disorders treatment landscape.
While rapidly growing FTD prevalence and the expanding ongoing clinical trials platform are providing a collective push to frontotemporal disorders treatment market in Western Europe, research estimates rapid emergence of Asian economies owing to increasing sophistication of the region’s healthcare sector and gradually surging awareness about frontotemporal disorders.
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