Alagille Syndrome (ALGS) Market Size to Reach USD 589.0 Million by 2030, Says The Brainy Insights
The strong pipeline of medications for treating Alagille syndrome is expected to contribute considerably to market growth. The global market for treating Alagille syndrome is anticipated to rise as financing, and investments for the treatment have increased. North America region emerged as the largest global Alagille Syndrome (ALGS) market, with a 35.3% market revenue share in 2022.
Newark, March 21, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 361.3 million in 2022 Alagille Syndrome (ALGS) market will reach USD 589.0 million by 2030. In just eight years, the market for alagille syndrome treatments is anticipated to grow over the forecast period due to increasing awareness of the condition. In addition, the rise in R&D activities and clinical trials of innovative drugs for treating alagille syndrome are significant factors driving the market.
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Key Insight of Alagille Syndrome (ALGS) Market
North America to account for the largest market size during the forecast period.
Due to significant market players like Mirum Pharmaceuticals, Albireo Pharma, Inc., and others, North America is anticipated to have a dominating position in the global market for alagille syndrome over the forecast period. Additionally, more partnerships and collaborations between market players are anticipated to fuel market expansion. For instance, on October 15, 2020, Mirum Pharmaceuticals and EVERSANA, a separate service provider to the life sciences sector, agreed to a collaboration for the development and distribution of Maralixibat, a drug indicated for the management of Alagille Syndrome, in the United States.
The liver problems segment is expected to augment the Alagille Syndrome (ALGS) market during the forecast period.
The liver problems segment held the largest market share in 2022 and is expected to continue during the forecast period. In most cases, the alagille syndrome highly affects the liver, driving the segment's growth.
The Ursodeoxycholic Acid segment market size is 81.6 million in 2022
The Ursodeoxycholic Acid segment is anticipated to dominate the market over the forecast period. One of the frequently suggested drugs for treating of pruritus (itching) is ursodeoxycholic acid, which is caused by alagille syndrome.
The urinalysis segment dominated the market, with a market share of around 26.3% in 2030.
The urinalysis segment is anticipated to dominate the market during the forecast period. Doctors may perform a urine test to rule out other illnesses or to look for signs of renal problems connected to Alagille syndrome.
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Advancement in market
In 2020, Mirum Pharmaceuticals, Inc. said that the U.S. Food and Drug Administration had received the first section of its New Drug Application (NDA) for maralixibat (FDA). Maralixibat, a novel, minimally absorbed oral apical sodium-dependent bile acid transporter (ASBT) inhibitor, is being evaluated for the treatment of cholestatic pruritus in patients with Alagille syndrome (ALGS).
Driver: Focus on developing new drugs
Major industry players are focusing on developing innovative drug compounds for the treatment of Alagille syndrome. These compounds are now undergoing clinical trials and are expected to receive USFDA approval soon.
Restraint: High cost
The high cost of the treatment of Alagille Syndrome is increasing which is restraining the market growth. According to 2015 WHO report titled "New Perspectives on Global Health Spending for Universal Health Coverage," high-income nations account for 80% of global health spending despite having just 16% of the global population.
Opportunity: Increase in funding
As funding and investments for the syndrome increase, it is projected that the global market for treating Alagille syndrome will expand. As an illustration, on December 14, 2020, Mirum Pharmaceuticals Inc. disclosed that Oberland Capital Management LLC would spend roughly US$ 210 million on its experimental liver disease drug maralixibat.
Challenge: Lack of medical knowledge
Lack of medical knowledge in underdeveloped economies and low operating income potential for research and development capabilities challenges the market's growth.
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Some of the major players operating in the Alagille Syndrome (ALGS) market are:
● Albireo Pharma, Inc.
● Bioarray S.L.
● Mirum Pharmaceuticals
● Zydus Cadila
● Teva Pharmaceutical Industries Ltd.
● Takeda Pharmaceutical Company Limited.
● Lupin Pharmaceuticals, Inc.
● GlaxoSmithKline plc
● Endo International plc
Key Segments cover in the market:
● Liver Problems
● Nutrition Problems
● Heart Problems
● Distinctive Facial Features
● Neurologic Problems
By Drugs :
● Ursodeoxycholic Acid
● Blood Test
● X-ray Imaging
● Cardiology Exam
● Slit-lamp Exam
● Liver Biopsy
● Genetic Testing
● Prenatal DNA testing
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The Alagille Syndrome (ALGS) market is analyzed based on value (USD million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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