Mitochondrial Myopathies market-Overview
Mitochondrial myopathy Market is a rare mutational disease and at present there is no treatment available for the disease. However, there are few diagnostic tests available in the market which are the only saving grace for the global mitochondrial myopathy diagnosis and treatment market at present. Research play a major role in the determining new diagnostic test and treatment options for mitochondrial myopathy.
Increasing number of patients with mitochondrial myopathy patients, development in the disease screening process and testing services, availability of incentives for research in rare genetic diseases, and government funding and support for the development of the treatment options. However, the unavailability of treatment for rare genetic diseases, and lack of awareness about the diagnosis of these diseases are major factors restraining the growth of the market. Additionally, large portion of the population are underdiagnosed due to lack of diagnostic methods also hinders the growth of the market.
Key players in the Mitochondrial Myopathies market
Reata Pharmaceuticals, Inc., Stealth BioTherapeutics, Raptor Pharmaceutical Corp., GeneDx, NeuroVive Pharmaceutical AB, Centogene AG, and Khondrion BV. are major players in the market.
Strategic approaches adopted help the major players to sustain their growth in the market and develop their business in various geographical areas across the globe. Agreements and collaborations, mergers and acquisitions, and new product launches are various strategies followed by the key players.
April, 2017: The Centogene AG extended its genetic testing portfolio by adding numerous single gene tests and Next Generation Sequencing (NGS) panels to its portfolio.
September, 2016: The Centogene AG announced the release of its genomic database CentoMD 3.1 which consist of genetic data and clinical information from more than 100,000 individuals worldwide. The database consists of nearly 3 million unique variants 57% of which are unpublished.
NeuroVive Pharmaceutical AB
May, 2017: The NeuroVive Pharmaceutical AB entered into a licensing agreement with Korean pharmaceutical company Yungjin Pharm for the study of its substance KL1333 for genetic mitochondrial diseases.
January, 2017: NeuroVive Pharmaceutical AB signed a preclinical cooperation agreement with Children’s Hospital of Philadelphia (CHOP) for the study and development of the treatment options for genetic mitochondrial diseases.
January, 2017: The NeuroVive Pharmaceutical AB announced a cooperation agreement with Karolinska Institutet. The main focus in this partnership is to study NeuroVive’s cyclophilic inhibitor NV556 and its effects in experimental models of mitochondrial myopathy.
September, 2016: Khondrion BV received Euro 1 million worth grant from EFRO of European union for the development of treatment with substance KH176 for the children with mitochondrial diseases.
December, 2015: Khondrion BV announced the completion of the Phase I clinical trial with its lead compound KH176. The company reported the successful outcomes from the Phase I clinical trial.
August, 2015: Khondrion BV received an Orphan Drug Designation by the European commission for its leading compound KH176 to treat MELAS syndrome.
November, 2014: Khondrion BV received an Orphan Drug Designation by the European commission for its leading compound KH176 for treatment of inherited mitochondrial respiratory chain diseases, and Leigh syndrome.
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March, 2017: Stealth Biotherapeutics announced the initiation of RePOWER, an observational study and pre-trial registry of patients with mitochondrial myopathy (MM). The study is being conducted in North America, Europe and Australia.
September, 2016: Stealth Biotherapeutics announced the initiation of a Phase II study for evaluating elamipretide in primary mitochondrial disease. The study, MMPOWER-2, will be limited to patients who completed the initial MMPOWER Phase 2 study.
January, 2016: Stealth Biotherapeutics received the U.S. Food and Drug Administration (FDA) Fast Track designation for MTP-131 (also known as Bendavia) for the treatment of primary mitochondrial myopathy.
Global Mitochondrial Myopathies Market
North America dominates the Americas Mitochondrial Myopathies market. North America is further segmented into the U.S. and Canada. The U.S. holds the major share of the market owing to a well-developed economy, rising prevalence of mitochondrial myopathies, and increasing government support for research & development. South America is still a developing region in terms of the infrastructure and technology. Additionally, rising number of screening tests also fuel the growth of the market. For example, in the U.S., increasing emphasis on new-born screening influences the growth of the market. New born screening is performed on every infant regardless of the parents’ health insurance status or paying ability with some states not even charging the nominal fees for the testing. Any other expenses are covered by most private health insurance plans, the Children’s Health Insurance Program (CHIP) and Medicaid both cover the cost.