The global Congenital Hyperinsulinism Treatment Market is expected to garner a market value of US$ 100 Million in 2023 and is expected to accumulate a market value of US$ 179.08 Million by registering a CAGR of 6% in the forecast period 2023-2033. The market for Congenital Hyperinsulinism registered a CAGR of 4% in the historical period 2017-2022.
The increasing prevalence of Congenital Hyperinsulinism disease is one of the biggest drivers of the market. As per studies, Congenital hyperinsulinism affects approximately 1 in 50,000 newborns. In the years to come, increasing focus by government organizations and private agencies like WHO and pharmaceutical companies to create awareness of Congenital Hyperinsulinism treatment is fuelling the market growth.
North America is anticipated to acquire a market share of about 25% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region. Furthermore, due to the presence of leading technological advancements in the healthcare sector and healthcare facilities with the advancements in technology, efficient treatments are being introduced.
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Furthermore, various startups are launching various ways to treat this rare condition. One such startup is Xinvento, a biotech company aiming to improve the lives of those with Congenital Hyperinsulinism. The company announced the completion of a seed funding round. Xinvento was founded in 2021 by CEO Claudine van der Sande, the driving force behind the company, who has a son diagnosed with Congenital Hyperinsulinism (CHI). This seed funding will enable Xinvento to design and test its proprietary molecules in the relevant pre-clinical models to identify potential drug candidates.
Key Takeaways from the Market Study
- From 2017-2022, the Congenital Hyperinsulinism Treatment market grew at a CAGR of 4%.
- The global Congenital Hyperinsulinism Treatment market is expected to grow with a 6% CAGR during 2023-2033.
- As of 2033, the Congenital Hyperinsulinism Treatment Market is expected to reach US$ 179.08 Million
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 25% market share for the Congenital Hyperinsulinism Treatment market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
“Various factors such as awareness in wellness and health, the diagnostics, and pathology segment are improving in the developing countries nowadays which grows the therapeutics market. The research and development activities in the field like emerging novel therapeutics, increasing the efficacy of medicine as well as treatment.” says an FMI analyst
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Key players in the Congenital Hyperinsulinism Treatment market are Eli Lilly, Novo Nordisk, Novartis AG, Rezolute, Inc., Eiger BioPharmaceuticals., Zealand Pharma A/S, Hanmi Pharmaceutical Co., Ltd., Crinetics Pharmaceuticals, Inc., AmideBio LLC, and Xeris Pharmaceuticals, Inc.
- In September 2022, Novo Nordisk and Microsoft entered a new strategic collaboration to combine Microsoft’s computational services, cloud and artificial intelligence (AI) with Novo Nordisk’s drug discovery, development and data science capabilities. Through the partnership, Microsoft is providing AI technology, foundational science models and expertise and is working alongside Novo Nordisk’s data scientists and domain experts from early research and development areas to accelerate Novo Nordisk’s R&D.
Key Segments Profiled in the Congenital Hyperinsulinism Industry Survey
- Drug Therapy
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- North America
- Latin America
- Asia Pacific
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