June 20, 2024
Transthyretin Amyloid Cardiomyopathy Treatment Market

Transthyretin Amyloid Cardiomyopathy Treatment Market is Poised to Grow at an Impressive CAGR owing to Increasing Prevalence of ATTR-CM

The transthyretin amyloid cardiomyopathy treatment market comprises drugs indicated for the treatment of transthyretin amyloid cardiomyopathy (ATTR-CM), a rare and fatal condition caused by aggregation of misfolded transthyretin protein in the heart. ATTR-CM can be inherited or acquired, with acquired ATTR-CM being more prevalent in elderly males. Drugs administered in the treatment of ATTR-CM aim to dissolve amyloid deposits and inhibit amyloid formation.

The global transthyretin amyloid cardiomyopathy treatment market is estimated to be valued at US$ 1943.69 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Transthyretin Amyloid Cardiomyopathy Treatment Market Growth are DermaSweep Inc., Lifetrons Switzerland AG, Trophy Skin, Silkā‚¬n, HoMedics USA LLC, PMD Beauty, Dermaglow, ImageDerm Inc., Clairderm Medical Aesthetics, Sylvan Company, Altair Instruments, Koninklijke Philips, Microderm GLO Skincare USA, Silhouet-Tone, and Edge Systems LLC. (HydraFacial), among others. The key players are focusing on new product launches and geographical expansion to strengthen their market presence.

The increasing prevalence of ATTR-CM driven by aging population is creating new opportunities for players in this market. Furthermore, ongoing clinical trials evaluating new therapeutic molecules are further expanding treatment options.

The high incidence of ATTR-CM in countries with large elderly population such as Japan, Europe and United States is fueling the global expansion of transthyretin amyloid cardiomyopathy treatment market. Additionally, growing awareness about this condition and its treatment are supporting the growth of the market in developing economies.

Market Drivers

The increasing prevalence of ATTR-CM majorly driven by aging population is one of the key drivers of this market. As per estimates, about 100,000-150,000 elderly Americans suffer from ATTR-CM. Furthermore, growing research activities to develop advanced treatment options and ongoing clinical trials are further providing momentum to market growth.

PEST Analysis

Political: The rising government initiatives for the betterment of healthcare infrastructure and availability of funding for rare disease treatment research & drug development are positively impacting the market growth.

Economic: Increasing per capita healthcare expenditure and rising disposable income levels are allowing more number of patients to opt for expensive amyloidoses treatment procedures, thereby fueling the market expansion.

Social: The growing public awareness about rare & neglected diseases as well as emergence of various patient advocacy groups and foundations is prompting more research activities for Transthyretin Amyloid Cardiomyopathy, resulting in new product launches.

Technological: Advancements in gene therapy and development of recombinant proteins for targeting misfolded transthyretin are some of the innovative treatment strategies being explored by biopharma companies, which holds immense potential to revolutionize disease management in the upcoming years.

The geographical regions where market in terms of value is concentrated includes North America and Europe. These developed markets have established healthcare systems along with high patient diagnosis rates and adoption of innovative treatment options. Moreover, these regions are home to several global players engaged in clinical research for novel Transthyretin Amyloid Cardiomyopathy therapeutics.

The fastest growing regional market is anticipated to be Asia Pacific over the forecast period. Factors such as rising incidences of ATTR-CM among the geriatric population coupled with improving access to modern diagnosis and treatment contributed to the market growth. Additionally, increasing collaboration between international drug developers and local pharmaceutical companies is also supporting market expansion across emerging Asian countries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it