Ataxia Treatment Market: Introduction
- Ataxia is a degenerative disease of the nervous system, which causes movement disorder. Patients of ataxia have issues while moving parts of body or the muscles in the arms and legs without coordination
- Symptoms of ataxia include lack of coordination, difficulty in walking, trouble while eating & swallowing, slurred speech, tremors, deterioration of fine motor skills, etc.
- Ataxia primarily occurs due to genetic factors, which are hereditary or familial, and acquired factors such as vitamin deficiencies, autoimmune conditions, some infections, exposure to toxic substances or drugs (especially alcohol), and various cancers
- There is no specific treatment for ataxia itself. If ataxia is a symptom of another disorder, the physician is likely to treat that disorder. Symptoms are generally treated by medications.
Key Drivers and Restraints of Global Ataxia Treatment Market
- Rise in prevalence of ataxia with improving diagnosis rate and technological advancements in pharmacotherapy to treat symptoms of ataxia are key drivers fueling the ataxia treatment market
- For instance, as per data provided by National Organization for Rare Disorders (NORD), the prevalence of Friedreich’s Ataxia (FRDA) is around 1 in 40,000 people. FRDA is a highly common inherited ataxia in Europe, the Middle East, South Asia (Indian subcontinent), and North Africa
- Extensive research and development activities with pipeline drugs is also driving the global ataxia treatment market
- Government initiatives to increase awareness about ataxia and support provided by various organizations are also major factors boosting the ataxia treatment market
- However, no single product approved for treatment of ataxia is hampering the global ataxia treatment market
- Recent expiry of certain drugs that treat symptomatic ataxia is also restraining the ataxia treatment market
Pharmacotherapy Segment Dominated Global Ataxia Treatment Market
- In terms of treatment type, the global ataxia treatment market can be segmented into pharmacotherapy, physical therapy, speech therapy, and others
- The pharmacotherapy segment accounted for a major share of the global market in 2019 due to better efficacy to treat symptoms, long-lasting effects, and pipeline products
Genetic Ataxia to Witness Significant Growth
- In terms of disease type, the global ataxia treatment market can be divided into genetic ataxia, acquired ataxia, and idiopathic
- The genetic ataxia segment is likely to expand at a notable CAGR during the forecast period due to more prevalent form of disease, genetic hereditary transfer from parents, and research activities for genetic ataxia treatment
North America to Dominate Global Ataxia Treatment Market
- In terms of region, the global ataxia treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, North America dominated the global ataxia treatment market in 2019 owing to a rise in prevalence of ataxia, increase in government funding for research activities, and various support organizations for patient diagnosis & treatment
- For instance, National Ataxia Foundation (NAF) is a membership supported nonprofit organization established in 1957 to help persons with ataxia and their families in the U.S. NAF is the only organization in the U.S. dedicated to the disease that serves all types of Ataxia.
- Asia Pacific is likely to be a highly lucrative market for ataxia treatment during the forecast period. The market in the region is projected to expand at a high CAGR from 2020 to 2030.
- Higher patient population with genetic strains of ataxia, growing awareness regarding ataxia, and government initiatives to curb these disorders are anticipated to propel the market in Asia Pacific during the forecast period
Key players Operating in Global Ataxia Treatment Market
The global ataxia treatment market was highly fragmented in 2019. Key players operating in the global market are:
- Pfizer, Inc.
- Acorda Therapeutics, Inc.
- AstraZeneca plc
- GlaxoSmithKline plc
- Eli Lilly and Company
- Forest Laboratories
- H. Lundbeck A/S
- Johnson & Johnson
- Merck & Co., Inc.
- Sanofi S.A.
Global Ataxia Treatment Market: Research Scope
Global Ataxia Treatment Market, by Treatment Type
- Physical Therapy
- Speech Therapy
Global Ataxia Treatment Market, by Disease Type
- Genetic Ataxia
- Acquired Ataxia
Global Ataxia Treatment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.