A recently published study by FMI expects the global Laband syndrome therapeutics market to augment at a 5.2% CAGR from 2023 to 2033. By the end of the said assessment period, a valuation of US$ 5 Billion is expected for the market.
Rising awareness of rare diseases and increased attention to heredity-related problems in the general population are expected to drive demand for Laband syndrome therapeutics, resulting in a potential opportunity for the market. The therapy options for Laband syndrome are quite limited.
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As a result of the increasing adoption of currently accessible medicines in the market, the market is experiencing an uneven demand and supply environment. Additionally, increased investment in the healthcare industry, as well as increased reimbursement facilities in developed nations such as the United States and Germany, is expected to boost the market.
Key Takeaways from the Market Study
- FMI projects the global Laband syndrome therapeutics market to expand at a 5.2% value CAGR by 2033
- The global Laband syndrome therapeutics market is estimated at a market value of US$ 3 Billion
- The global Laband syndrome therapeutics market is expected to garner a market value of US$ 5 Billion
- North America is expected to grow at a CAGR of 5.1% in the assessment period 2023 to 2033.
- Europe is expected to grow at a CAGR of 5% in the assessment period 2023 to 2033.
- Asia Pacific is expected to grow at a CAGR of 4.8% in the assessment period 2023 to 2033
- The oral segment is expected to hold the largest market share for lab and syndrome therapeutics in the forecast period 2023 to 2033.
“The worldwide Laband syndrome therapeutics market is expanding rapidly as people become more conscious of the need for rare illness treatment and pay close attention to the presence of a family genetic history. Because of their well-established healthcare infrastructure and excellent healthcare standards, industrialised countries have a strong need for Laband syndrome therapeutics,” says an analyst at FMI
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Market Competition
Key players in the laband syndrome therapeutics market are Xinhua Pharmaceutical, BASF, SI Group, Strides Pharma Science, Selleckchem, Merck & Co. Inc., Vasudha Pharma Chem Limited, Sanofi, Takeda and Pfizer. Some prominent developments are as follows:
- In December 2022 – BASF Pharma Solutions announced that the FDA’s Center for Drug Evaluation and Research (CDER), Office of New Drugs has accepted their excipient, Soluplus®, into the FDA’s Pilot Program for the Review of Innovation and Modernization of Excipients (PRIME). The programme aims to reduce the risk and burden on pharmaceutical companies that want to use novel excipients for modern drug development challenges, as well as to provide a pathway for excipient manufacturers like BASF to obtain FDA review of their novel excipients before using them in an FDA-approved drug.
- In December 2022, Stelis Biopharma Limited, an emerging biopharmaceutical Contract Development and Manufacturing Organization (CDMO) and the biologics arm of Strides Pharma Science Limited, announced that its CDMO partner has received FDA approval for a key ANDA (USFDA). The product was filed from Stelis Biopharma’s flagship facility in Bangalore.
- In December 2022 – Merck, a global pharmaceutical corporation, has inked a non-binding Memorandum of Understanding (MoU) with Synplogen, a business spun out of Kobe University’s Graduate School of Science, Technology, and Innovation. Both businesses want to combine their resources in order to provide expedited development, production, and testing for viral vector gene treatments in Japan.
Key Segments Profiled in the Laband Syndrome Therapeutics Industry Survey
By Drug Class:
- NSAIDS
- Bisphosphonate
- Skeletal Muscle Relaxants
By Route of Administration:
- Oral
- Rectal
- Parental
- Topical
- Infusion
By Distribution Channel:
- Hospital Pharmacies
- Clinical Pharmacies
- Drug Stores
- Online Pharmacies
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