Future Market Insights, a leading market research firm, has unveiled a comprehensive report forecasting significant expansion in the global AL amyloidosis therapeutics market. According to the report, the market is poised to grow from USD 2.25 billion in 2023 to a remarkable USD 4.56 billion by 2033, registering a robust Compound Annual Growth Rate (CAGR) of 7.3%.
AL amyloidosis is a rare and serious condition characterized by the abnormal accumulation of amyloid proteins in various organs and tissues. This protein build-up can lead to organ damage and a decline in function, posing substantial health challenges. Common symptoms include weight loss, weakness, fatigue, difficulty breathing, joint pain, and distinct skin manifestations such as redness and spider veins.
The rising incidence of AL amyloidosis, particularly among the aging population, is a primary driver of the growing demand for effective therapeutic interventions. As the prevalence of this condition increases, the need for advanced treatments and innovative therapies becomes more critical.
The projected growth of the AL amyloidosis therapeutics market underscores the urgency and necessity of addressing this debilitating disease. The expansion is expected to bring new opportunities for healthcare providers, pharmaceutical companies, and researchers dedicated to improving patient outcomes and enhancing the quality of life for those affected by AL amyloidosis.
Key Takeaways from the Market Study:
- The market for treatments for AL amyloidosis expanded at a CAGR of 5.1% from 2018 to 2022.
- More than USD 2.1 billion is presently spent on treating AL amyloidosis worldwide.
- Chemotherapy is predicted to command the market in 2023 with a 53% revenue share.
- The hospital pharmacy sector by distribution channel will hold the second-largest segment during the anticipated period, with a 25% worldwide market share in 2023.
- From 2023 to 2033, the North American region is expected to expand at a constant CAGR of 7.9%.
- From 2023 to 2033, the Asia Pacific AL amyloidosis therapies market is anticipated to expand at a stable CAGR of 7.6%.
“Due to factors including rising incidence as well as the anticipated introduction of innovative therapeutics throughout the projected period, the market for AL amyloidosis therapeutics is predicted to rise favorably.” comments a Future Market Insights analyst.
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Competitive Landscape:
- Janssen Pharmaceutical
- Prothena
- Alexion Pharmaceuticals
- Oncopeptides AB
- Bristol-Myers Squibb
- GlaxoSmithKline Pharmaceuticals Ltd
- Celgene Corp
- Eidos Therapeutics, Inc.
- Corino Therapeutics, Inc.
- Spectrum Pharmaceuticals, Inc.
- Pfizer
Some of the recent developments in this domain are:
- The U.S. Food and Drug Administration (FDA) approved Sorrento Therapeutics, Inc.’s experimental new drug application for STI-6129, a CD38-targeting monoclonal antibody combination, in 2020. Sorrento Therapeutics is currently working on a number of technological platforms, along with a CD38-specific antibody found in its completely human G-MABTM antibody library, its own pharmacological payload Duostatin 5, as well as its site-specific C-LOCK coupling technology. These platforms are all used by STI-6129.
Key Segments Covered in the AL amyloidosis therapeutics market Report:
By Treatment:
- Chemotherapy
- Supportive Care
- Surgery
- Stem Cell Transplant
- Targeted Therapy
By Drugs:
- Transthyretin Transport Inhibitor
- Immunomodulatory Drugs
- Monoclonal Antibodies
- Proteasome Inhibitors
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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