Duchenne Muscular Dystrophy Market to Reach $2.1 Billion, Globally, by 2031 at 4.7% CAGR Allied Market Research
Rise in the incidence of the Duchenne muscular dystrophy (DMD) and surge in need for better healthcare services drive the growth of the global Duchenne muscular dystrophy market.
PORTLAND, Ore., Nov. 28, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Duchenne Muscular Dystrophy Market by Therapeutic Area, (Molecular-based Therapies and Steroid Therapy), and Distribution Channel (Hospital Pharmacies, Drug Store & Retail Pharmacies and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2022-2031". According to the report, the global Duchenne muscular dystrophy industry generated $1.3 billion in 2021, and is anticipated to generate $2.1 billion by 2031, witnessing a CAGR of 4.7% from 2022 to 2031.
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Prime determinants of growth
Rise in the incidence of the Duchenne muscular dystrophy (DMD) and surge in need for better healthcare services drive the growth of the global Duchenne muscular dystrophy market. However, inflated cost of treatments for Duchenne muscular dystrophy restricts the market growth. On the other hand, increase in government spending on the pharmaceutical and biotechnology sectors in developing countries, the development of healthcare infrastructure, and rise in demand for innovative treatments for Duchenne muscular dystrophy present new opportunities in the coming years.
- The outbreak of the Covid-19 pandemic had a negative impact on the global Duchenne muscular dystrophy market, owing to implementation of the global lockdown which led to temporary closure of many clinics, especially in the initial period.
- However, throughout the pandemic, despite the recommendations to maintain social distance, many individuals treated their illnesses via self-medication or other unconventional methods owing to their concern of contracting COVID during the lockdown.
The molecular based therapies segment to maintain its leadership status throughout the forecast period