Global Osteochondromas Treatment Market: Drivers
The global Osteochondromas Treatment Market is expected to witness significant growth during the forecast period owing to research on the pathophysiology and genetic background of osteochondromas. For instance, in 2018, Istituto Ortopedico Rizzoli, a research institute in Italy, completed an observational study on osteochondromas. The study involved maintaining the Registry of Multiple Osteochondromas (REM), a retrospective and prospective registry which collects clinical, functional, genetic, genealogical, imaging, surgical, quality of life data of individuals diagnosed with osteochondromas. Registry of multiple osteochondromas helps in understanding the inherited information of osteochonromas patients, patients follow up after excising the osteochondromata tumors.
Osteochondromas is a rare disease condition causing non-cancerous bone growth, which is mostly manifested in males and females in age group of 10 to 40. Osteochondromas is characterized as inherited and non-inherited osteochondromas. Osteochondromas tumors cause cartilages to overgrow. Generally these tumors affect the bones in the knee and in the forearm. Osteochondromas is also observed in children below age 10 and is known as hereditary multiple exostoses, whereas multiple osteochondromas is clinically manifested till the onset of puberty in individuals. Osteochondromas is clinically diagnosed with the help of X-ray, CT scan and Magnetic resonance index (MRI). According to the National Library of Medicine Report published in 2017, osteochondromas has prevalence value of 0.44 % in 1000 individuals globally and is most commonly diagnosed in patients aged 10 to 30 years.
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Moreover, symptoms of osteochondromas are a hard mass present on the knees or forearms which are painless and do not move. One leg or arm is shorter or longer than the other in individuals suffering from osteochondromas, and symptoms are soreness of muscles near the tumor, pressure and irritation of the tumor formed on the knee or forearm after exercise.
Furthermore, key players are focusing on strategies such as mergers and acquisitions for developing an effective treatment for osteochondronmas. For instance, in 2019, Ipsen, a company developing medication in oncology and rare diseases, acquired Clementia Pharmaceuticals, a clinical-stage company that develops innovative treatments for people with ultra-rare bone disorder. The acquisition will transform Ipsen company’s rare disease product portfolio by focusing on developing the drug, palovarotene, an investigational retinoic acid receptor gamma (RARy) selective agonist for treatment of individuals who are affected by multiple osteochondromas and fibrodysplasia ossificans progressiva (FOP), and other diseases.
Global Osteochondromas Treatment Market: COVID-19 Impact Analysis
The COVID-19 pandemic has impacted growth of various markets and it is also expected to hamper growth of the global osteochondromas treatment market during the forecast period. Moreover, osteochondromas can be treated through surgical procedures and pain relief medicines. Due to the COVID-19 pandemic, healthcare professionals are facing difficulties in performing surgical procedures. For instance, according to the US National Library of Medicine Report published in May 2020, healthcare professionals should develop clear base plans regarding essential surgical services that need to be provided in emergency conditions, educating staff and train them on use of personal protection equipment, and also decrease the number of staff needed for surgical procedures and reduce the risk of COVID-19 infection.
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Global Osteochondromas Treatment Market Restraints
Osteochondromas is a formation of tumors on the bone’s growth plate which can only be treated by carrying out surgical procedures, such as excising the osteochondromata tumors which can lead to complications such as superficial wound infections, hematoma formations, partial wound dehiscence, hypertrophic scar/keloid formation and cutaneous nerve entrapment in patients. These factors are expected to restrain the global osteochondromas treatment market growth.
Global Osteochondromas Treatment Market: Regional Analysis
On the basis of region, the global osteochondromas treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to exhibit highest market share in the global osteochondromas treatment market owing focus of pharmaceutical companies on investing in research and development of effective treatment of osteochondromas. In 2019, Keros Therapeutics, Inc., a company operating in the discovery and development of innovative treatments for rare neuromuscular diseases, received financial funding of US $23 million from Pontifax, Arkin Bio Ventures, Partners Innovation Fund, Medison Pharma, and Global Health Sciences Fund (GHS) for exploring novel treatment approaches for treatment of the most intractable neuromuscular diseases such as fibrodysplasia ossificans progressiva (FOP) and oncology including multiple osteochondromas.
Europe is expected to witness significant growth in the global toxoplasmosis treatment drugs market owing to research and development by players for the treatment of multiple osteochondromas diseases. For instance, in 2019, Ipsen, a company developing medications used in oncology, neuroscience and rare diseases, announced that they are in phase 2 of clinical trials studying safety and efficacy of Palovarotene 2.5 mg and Palovarotene 5.0 mg for treatment of pediatric multiple osteochondromas.
Global Osteochondromas Treatment Market: Key Players
Key players operating in the global osteochondromas treatment market are Ipsen and Keros Therapeutics, Inc. among others.
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