Hereditary Angioedema Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Hereditary angioedema develops in the most common areas of the body and results in recurrent episodes of severe swelling. The condition affects intestinal tract, limbs, and airways. Moreover, episodes of trauma, can trigger an attack, but the probable cause of these are still yet unconfirmed. The condition results in fatalities for one-third of the people, and can progress into a rash called arythema marginatum during an attack. There are three types of hereditary angioedema. Among these, type I is the most common condition, and affects over 85% of patients, while type II affects nearly 15%. Type III is most rare among them all. The condition affects over 1 in 50,000 people, and its growing awareness is expected to drive growth for players in the hereditary angioedema market. Recent technological advancements including Big Data, and data analysis are expected to open new opportunities for growth in the hereditary angioedema market in the near future.
BioCryst Pharmaceuticals has submitted a new drug application to the FDA for approval of Berotralstat. The oral and daily dose of this medicine has been tested and promises to prevent swelling attacks in patients for a year. The drug highly needed for the hereditary angioedema condition has shown promising results in ApeX-2, and Apex-S trials that it is safe and effective while lowering mean attack rates from three to one or fewer per month.
Growing awareness about genetic mutations, and initiative for protecting new-borns against genetic illnesses are expected to result in further regulatory support in the US. Currently, legislation in senate named the Newborn Screeing Saves Lives Reauthorization, promises awaits senate vote. If passed, the bill will provide $60 million yearly funding to states to enact newborn screening programs. The new programs with the help of the National Academy of Medicine, will drive growth of implementation, and make recommendation for new ones. Currently, the yearly funding stands at $20 million a year. The rising awareness about genetic illnesses, and growing support in the senate will likely drive growth for players in the hereditary angioedema market.
The global hereditary angioedema market is likely to witness major growth as rising genetic screening, and technological advancements like Big Data continue to result in better diagnosis, and more treatment. Moreover, growing support for regulatory bodies like the FDA for rare conditions, and legislations like Newborn Screening Saves Lives Reauthorization also promise new opportunities for expansions in key markets. Moreover, various pharmaceutical companies are investing in innovation as expiry of various patents, increased regulatory support for innovation, and reducing costs for innovations due to outsourcing of various operations continues to drive growth for players in the hereditary angioedema market.
The global hereditary angioedema market report will cover all key regions of the globe including North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among these, North America and Europe are likely to witness major growth, thanks to new drug approvals, growing investment in innovation, and promising horizons of drug development with technological advancements like 3D printing among others. The global hereditary angioedema market in Asia pacific will also witness substantial growth as countries like China, and the promising push of the Chinese FDA for innovation promises new opportunities for regional players. Moreover, expanding access to healthcare, promising innovation in countries like India, and Japan, and rising disposable income are likely to drive new opportunities for growth in the hereditary angioedema market during the forecast period.
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