Global Ornithine Transcarbamylase (OTC) Deficiency Treatment Market, by Drug Type (Buphenyl, Ravicti, Ammonul, and Others), by Route of Administration (Oral and Intravenous), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 810.4 Mn in 2023 and is expected to exhibit a CAGR of 4.25% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key trends in market includes agreements for distribution of ornithine transcarbamylase (OTC) deficiency drugs by key companies, which is expected to drive the growth of global Ornithine Transcarbamylase (OTC) deficiency treatment market over the forecast period. For instance, in December 2020, Hongkong WinHealth Pharma Group CO., Ltd, a China-based biotechnology company, and Immedica Pharma AB, a pharmaceutical company, announced that both companies have entered into an agreement under which WinHealth gains the exclusive commercial rights to Ravicti (glycerol phenylbutyrate), in a countries covering the Greater China Area, South Korea, Singapore, Vietnam, Indonesia, Malaysia, Philippines and Thailand. This partnership with WinHealth, under which Immedica Pharma AB will be able to make Ravicti available to the UCD (Urea cycle disorders) patients in this region of the world. It also strengthens Immedica's geographical footprint, by introducing another rare disease collaboration to Hongkong WinHealth Pharma Group CO., Ltd network.
Global Ornithine Transcarbamylase (OTC) Deficiency Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The novel coronavirus pandemic has resulted in one of the most debilitating human tragedies, after the Spanish Flu pandemic of the twentieth century. The pandemic has taken a heavy toll on human existence, with over 752,517,552 active cases and over 6,804,491 deaths as of January 27, 2023. The pandemic is especially dangerous for patients who already have co-morbidities like hypertension, diabetes, or kidney failure. Evidence has also shown that OTC deficient patients are more vulnerable. As a result, healthcare providers are working tirelessly to increase the supply of essential drugs. For example, Arcturus Therapeutics is a global late-stage clinical messenger RNA medicines and vaccines company, recently received U.S. FDA approval to begin the clinical trials of ARCT-810, also known as LUNAR-OTC. It is a first-of-its-kind mRNA therapeutic for treating OTC deficiency. Furthermore, the company has been developing its COVID-19 vaccine candidate since August 2020.
As a result, companies in the ornithine transcarbamylase deficiency treatment market are capitalizing on revenue opportunities through COVID-19 vaccine innovation. This should maintain demand throughout the pandemic, maximising corporate margins and guaranteeing steady cash flow.
Global Ornithine Transcarbamylase (OTC) Deficiency Treatment Market: Key Developments
Increasing research and development expenditure which is expected to propel the growth of global Ornithine Transcarbamylase (OTC) deficiency treatment market over the forecast period. For instance, China spent a record 3.09 trillion yuan (US$ 443 billion) on research and development in 2022, a 10.4% year-on-year increase that came from the nation's accelerated efforts to enhance its innovation capability for more breakthroughs.
Browse 79 Market Data Tables and 47 Figures spread through 457 Pages and in-depth TOC on “Global Ornithine Transcarbamylase (OTC) Deficiency Treatment Market, By Drug Type (Buphenyl, Ravicti, Ammonul, and Others), By Route of Administration (Oral and Intravenous), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Ornithine Transcarbamylase (OTC) Deficiency Treatment Market:
- Global Ornithine Transcarbamylase (OTC) deficiency treatment market is expected to exhibit a CAGR of 4.25% during the forecast period due to increasing product approval by regulatory bodies, which is expected to drive the global Ornithine Transcarbamylase (OTC) deficiency treatment market growth over the forecast period. For instance, in October 2020, Versantis AG, a clinical-stage company developing novel therapies for orphan liver diseases, announced that the U.S. Food and Drug Administration (FDA) had granted a rare pediatric disease designation (RPDD) to its lead product candidate VS-01, an ammonia clearance enhancer, for the treatment of Urea Cycle Disorders (UCD). UCD is a rare and life-threatening condition caused by an inborn error of metabolism. Current treatment options of UCD are associated with poor outcomes.
- In terms of distribution channel, hospital pharmacies segment is estimated to hold a dominant position in global ornithine transcarbamylase (OTC) deficiency treatment market over the forecast period, owing to increasing number of hospital pharmacies. For instance, on September 19, 2022, Apollo Pharmacy, a part of the Apollo Hospitals Group, announced the opening of its 5,000th store in India, situated at Perungudi, Chennai.
- Among region, Asia Pacific is estimated to exhibit highest CAGR in the global ornithine transcarbamylase (OTC) deficiency treatment market over the forecast period, owing to increasing product approvals by regulatory bodies. For instance, September 2022, Immedica Pharma AB, a pharmaceutical company in Sweden, announced that RAVICTI (glycerol phenylbutyrate) has been accepted and granted a Priority Review for the New Drug Application (NDA) in China. The proposed indication for glycerol phenylbutyrate in China is the chronic management of patients with UCDs that cannot be managed with protein restriction and/or amino acid supplementation alone.
- Major players operating in the global ornithine transcarbamylase (OTC) deficiency treatment market include Horizon Therapeutics Plc, Bausch Health Companies Inc, Danone, Nestlé, Ultragenyx Pharmaceutical., Arcturus Therapeutics, Inc., Abbott., Swedish Orphan Biovitrum AB, Acer Therapeutics Inc., Assertio Holdings, Inc., iECURE and Translate Bio, Inc.
