The Netherton syndrome market was valued at US$ 19. 57 million in 2019 and is projected to reach US$ 74. 31 million by 2027; it is expected to grow at a CAGR of 20. 3%during 2020–2027. The growth of the Netherton syndrome market is mainly attributed to factors such as the rising number of awareness campaigns, and increasing number of drug launches and robust product pipeline.
New York, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Netherton Syndrome Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Therapy, and Geography" - https://www.reportlinker.com/p05978096/?utm_source=GNW
However, side-effects of Netherton syndrome drugs limit the growth of the market.
Various companies around the world are focused on launching and developing new, effective, and innovative therapies for rare diseases, including Netherton syndrome. It is a chronic genetic skin disease that can turn life threatening; people suffering with the Netherton syndrome face immunity-related issues such as food allergies, hay fever, asthma, and eczema, i.e., an inflammatory skin disorder.
In May 2020, Azitra, Inc., a clinical-stage medical dermatology drug manufacturer, received Rare Pediatric Disease Designation to ATR-12 from the US Food and Drug Administration (FDA) for the treatment of Netherton syndrome (NS). Moreover, in April 2010, LifeMax Laboratories, Inc. received fast track designation for its LM-030, an investigational therapy licensed from Novartis and currently in a Phase 2/3 pivotal clinical trial for the treatment of Netherton Syndrome, by the FDA. Moreover, in July 2020, SixeraPharma developed a treatment for Netherton syndrome that targets and specifically certain proteases in the skin.
Further, a large number of investors are financing projects focused on rare diseases. For instance, in May 2020, Toronto Innovation Acceleration Partners (TIAP), Evotec SE, and AmorChem II Fund L.P. invested US$ 1.75 million into a drug development project focused on Netherton Syndrome, a rare skin disease that affects one in 200,000 newborns worldwide. Thus, the increasing emphasis on developing rare disease treatment options and a promising pipeline for the development of drug candidates to treat Netherton syndrome encourage the growth of the market.
Based on therapy, the global Netherton syndrome market is segmented into keratolytic agents, oral and topical steroids and retinoid, topical calcineurin inhibitors, biological therapy, and radiation therapy.In 2019, the keratolytic agents segment held the largest share of the global Netherton syndrome market.
Growth of this segment is attributed to the increasing drug launches and robust pipeline.In addition, strategic activities by service providers such as collaborations, merger acquisition and expansion in order to expedite drug timeline are further accelerating the growth of the market.
In addition, implementation of government programs regarding awareness of the Netherton syndrome are also likely to have positive impact on the growth of the market during the forecast period. However, biological therapy segment in the global Netherton syndrome market is estimated to register considerable growth during the forecast period.
The World Health Organization (WHO), Food and Drug Administration (FDA), National Health Service (NHS), and Centers for Disease Control and Prevention (CDC) are a few of the major primary and secondary sources referred for preparing this report.
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