The Ataxia Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ataxia Global Market Report 2024, The ataxia market size has grown strongly in recent years. It will grow from $33.78 billion in 2023 to $37.01 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to limited treatment options, advances in neurological research, growing awareness of rare diseases, evolution of diagnostic technologies, increased focus on genetic factors.
The ataxia market size is expected to see strong growth in the next few years. It will grow to $51.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to accelerated drug development for ataxia, rising investments in rare disease research, adoption of precision medicine approaches, increased focus on patient advocacy, growing understanding of the genetic basis of ataxia.. Major trends in the forecast period include integration of digital health solutions in ataxia management, development of gene therapies for ataxia treatment, rise in collaborative research initiatives, emphasis on patient-centric care models, adoption of telemedicine for ataxia consultations.
The rise in alcohol consumption is expected to propel the growth of the ataxia market going forward. Alcohol consumption refers to drinking an ethanol-containing beverage, usually orally. Cerebellar degeneration, a prevalent kind of acquired toxic ataxia, is caused by chronic alcohol misuse. Patients with alcoholism experience lower limb postural tremors and gait ataxia. For instance, in December 2022, according to the Global Beer Consumption Report for 2021 shared by Kirin Holdings Company Limited, a Japan-based integrated beverages company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from the previous year. Due to the easing of the effects of the spread of COVID-19, the total amount of beer consumed worldwide in 2021 increased by roughly 7.13 million kiloliters (equivalent to about 11.3 billion 633-ml bottles) from the previous year, reaching about 185.6 million kiloliters (up 4.0% of the prior year, or roughly 293.2 billion 633-ml bottle equivalent). Therefore, the rise in alcohol consumption is driving the growth of the ataxia market.
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The ataxia market covered in this report is segmented –
1) By Type: Friedreich’s Ataxia, Ataxia-telangiectasia, Episodic Ataxia, Other Types
2) By Product: Treatment, Diagnosis
3) By Dosage Form: Solid, Liquids, Other Dosage Forms
4) By Route of Administration: Oral, Parenteral, Other Routes of Administration
5) By End User: Hospital, Clinics, Home Healthcare, Other End-Users
Product innovations are a key trend gaining popularity in the ataxia market. Major companies operating in the ataxia market are focused on innovating new products or drugs to sustain their position in the market. For instance, in February 2023, Reata Pharmaceuticals, a US-based biotechnology company, announced the FDA’s (the U.S. Food and Drug Administration’s) approval of SKYCLARYS (omavaloxolone). It is the first and only drug indicated for patients with Friedreich’s ataxia in adults and adolescents aged 16. At Week 48, treatment with the oral, once-daily medication SKYCLARYS led to statistically significant lower mFARS (modified Friedreich’s Ataxia Rating Scale) scores (reduced impairment) compared to placebo. The diagnosis of Friedreich’s ataxia, an extremely rare inherited neurological condition, usually occurs around adolescence.
The ataxia market report table of contents includes:
1. Executive Summary
2. Ataxia Market Characteristics
3.Ataxia Market Trends And Strategies
4. Ataxia Market analysis
5. Ataxia Market Size And Growth
6.Ataxia Segmentation
7. Ataxia Regional And Country Analysis
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27.Ataxia Competitive Landscape And Company Profiles
28.Ataxia Key Mergers And Acquisitions
29. Ataxia Future Outlook and Potential Analysis
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