FRIEDREICH’S ATAXIA MARKET ANALYSIS

Friedreich’s Ataxia MarketSize and Trends

The global Friedreich’s ataxia market is estimated to be valued at US$ 777.2 million in 2022 and is expected to exhibit a CAGR of 13.0% over the forecast period (2022-2030).

High burden of Friedreich’s ataxia is expected to drive growth of the global Friedreich’s ataxia market over the forecast period

For instance, according to data published by the Ataxia UK, a charity registered in Scotland and England & Wales in November 2020, it was estimated that the incidence of Friedreich’s ataxia based on carrier frequency of 1 in 85 was 1:29,000 in Europe in 2020.

Market Trends

High burden of Friedreich’s ataxia is expected to drive growth of the global Friedreich’s ataxia market over the forecast period

For instance, according to data published by the Ataxia UK, a charity registered in Scotland and England & Wales in November 2020, it was estimated that the incidence of Friedreich’s ataxia based on carrier frequency of 1 in 85 was 1:29,000 in Europe in 2020.

Figure 1. Global Friedreich’s Ataxia Market Share (%), By Region, 2022

Increasing research and development activities for introduction of novel Friedreich’s ataxia therapeutics is expected to drive the market growth over the forecast period.

For instance, according to an article published in the Neurobiology of Disease journal, in January 2021, an oral drug called leriglitazone had shown benefits in treating Friedrich's ataxia in cellular and animal models. Leriglitazone is manufactured by Minoryx Therapeutics, a Spain-based clinical-stage biotechnology company, and is currently in advanced Phase 2/3 of clinical trials for the treatment of Friedrich's ataxia. Leriglitazone restores mitochondrial function which is generally hampered due to the absence of mitochondrial protein frataxin (FXN) in Friedreich's ataxia disease.

Furthermore, in February 2022, Design Therapeutics, Inc., a U.S.-based biotechnology company, announced that it is currently conducting Phase 1 clinical trial of its investigational drug DT-216, an intravenous (IV) injection for the treatment of Friedreich's Ataxia and this clinical trial study is expected to be completed by December 2022.

Key players operating in market are focusing on obtaining regulatory approval of their Friedreich’s ataxia drugs, which is expected to drive growth of the global Friedreich’s ataxia market over the forecast period.

In March 2022, Stealth BioTherapeutics Inc., a Cayman Islands-based biotechnology company, announced that it received Orphan Drug Designation from the U.S. Food and Drug Administration (US FDA) Office of Orphan Products Development for its drug Elamipretide, which is indicated for the treatment of Friedreich's ataxia.