The Epidermolysis Bullosa Market Is Estimated To Witness High Growth Owing To Increasing Research And Development Activi

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The epidermolysis bullosa market is estimated to be valued at US$ 3813.38 Mn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Epidermolysis bullosa (EB) is a group of rare inherited disorders that cause easy blistering of the skin and mucous membranes. The main symptoms of EB include skin fragility or blisters from minor friction or trauma to the skin. There are several types of EB with varying degrees of severity. The blisters can occur in response to minor injury, friction from clothing or daily activities. Products used for EB include wound care dressings, bandages, compression garments, skin grafts and tissue-engineered skin substitutes to help manage wounds and dressing changes.

Market Dynamics:
The epidermolysis bullosa market is mainly driven by increasing research and development activities for novel treatment options. For instance, in 2022, Krystal Biotech received orphan drug designation from FDA for beremagene geperpavec (B-VEC) for dystrophic EB. B-VEC is a topical gene therapy under development for dystrophic EB. If approved, it can potentially be a groundbreaking treatment option to manage various symptoms of DEB. Further, growing public awareness initiatives by non-profit organizations is creating opportunities for key players to expand their geographical presence. However, high treatment cost and lack of approved treatment options are some of the factors hampering market growth.

SWOT Analysis
Strength: Barrier therapy is highly effective in relieving pain and preventing wounding. Gene therapy and pharmacological options are advancing rapidly and hold promise for better patient outcomes. Growing awareness about EB is facilitating early diagnosis and intervention.
Weakness: EB has no definitive cure. Existing treatments only manage symptoms and improve quality of life but do not alter the underlying genetic defects. High cost of advanced therapies poses affordability challenges.
Opportunity: Robust R&D pipeline with several drug candidates in clinical trials can potentially transform the treatment landscape if approved. Increasing healthcare expenditures in developing nations are expected to boost market growth.
Threats: Failure or discontinuation of drug development programs due to safety or efficacy concerns can impact the market negatively. Stringent regulations for approval of orphan drugs extend timelines and increase costs.

Key Takeaways
The Global Epidermolysis Bullosa Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing prevalence of rare skin diseases and rising awareness.

Regional analysis
North America dominated the global EB market in 2023 and is expected to continue its dominance over the forecast period, owing to high adoption of advanced treatment options and presence of key industry players in the region. Asia Pacific is poised to witness the fastest growth rate during the forecast period, driven by large patient population, increased healthcare spending, and improving access to diagnosis and care.

Key players
Key players operating in the Epidermolysis Bullosa market are Amryt Pharma, Abeona Therapeutics, Castle Creek Pharmaceuticals, RegeneRx, Krystal Biotech, RHEACELL GmbH, Holostem Terapie Avanzate, StemRim/Shionogi, and Phoenix Tissue Repair.

 

Read more: https://www.trendingwebwire.com/epidermolysis-bullosa-market-forecast-insights/

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