The market's progress signifies advancements in treatment options, research, and healthcare infrastructure dedicated to managing this condition effectively.
According to forecasts, the global congenital hyperinsulinism treatment market is expected to reach US$ 100 million by 2023 and grow at a Compound Annual Growth Rate (CAGR) of 6% from 2023 to 2033, when it is expected to reach US$ 179.08 million. The market did well between 2017 and 2022, with a CAGR of 4%.
The increasing incidence of Congenital Hyperinsulinism disease, affecting around 1 in 50,000 newborns, is driving the market growth. The World Health Organization (WHO) and other organizations are creating awareness about Congenital Hyperinsulinism treatment, further contributing to market growth.
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During the forecast period, North America is expected to hold a market share of approximately 25% due to the rising prevalence of the disease in the region, technological advancements in healthcare, and efficient treatments being introduced.
Startups like Xinvento, a biotech company established in 2021 by CEO Claudine van der Sande, who has a son diagnosed with Congenital Hyperinsulinism (CHI), are playing a significant role in the market. Recently, Xinvento completed a seed funding round, which will enable the company to design and test its proprietary molecules in relevant pre-clinical models to identify potential drug candidates.
Key Takeaways:
“Various factors such as awareness in wellness and health, the diagnostics, and pathology segment are improving in the developing countries nowadays which grows the therapeutics market. The research and development activities in the field like emerging novel therapeutics, increasing the efficacy of medicine as well as treatment.” says an FMI analyst
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Market Competition
Key players in the Congenital Hyperinsulinism Treatment market are Eli Lilly, Novo Nordisk, Novartis AG, Rezolute, Inc., Eiger BioPharmaceuticals., Zealand Pharma A/S, Hanmi Pharmaceutical Co., Ltd., Crinetics Pharmaceuticals, Inc., AmideBio LLC, and Xeris Pharmaceuticals, Inc.
More Insights Available:
Europe is also expected to witness significant growth in the Congenital Hyperinsulinism market. The region has a well-established healthcare system and a large patient pool, which is expected to drive market growth. Furthermore, increasing investments by pharmaceutical companies in the region, along with the growing number of research and development activities, are expected to fuel market growth.
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Congenital Hyperinsulinism Treatment Market , Congenital Hyperinsulinism Treatment Market Forecast , Congenital Hyperinsulinism Treatment Market Trends
Feb 06, 2024