Global Stargardt Disease Therapeuticss Market, By Drug Type (Emixustat, LBS-008, others (Gildeuretinol), By Age Group (Children (Below 17 Years) and Adult (Above 17 Years)), 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$ 213.5 Mn in 2023 and is expected to exhibit a CAGR of 31.7% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adoption of growth strategies such as launch of new products, and this is expected to drive the global stargardt disease therapeutics market growth. For instance, on August 21, 2023, according to the 2022 annual report published by Ocugen, Inc., a biotechnology company, the Phase I/II trials for Ocugen’s gene therapies named OCU410 and OCU410ST are planned for initiation by the end of 2023 in geographic atrophy and Stargardt disease.
Global Stargardt Disease Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quicklys and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of things from one place to another.
Global Stargardt Disease Therapeuticss Market: Key Developments
On March 01, 2023, according to 2022 annual report published by IVERIC bio, Inc., a science-driven biopharmaceutical company, the patient enrollment in STAR, the company’s Phase 2b screening clinical trial of ACP for the treatment of autosomal recessive stargardt disease (STGD1), is ongoing.
In October 2022, Apple Tree Partners, a leader in life sciences venture capital, announced the launch of Ascidian Therapeutics, a biotechnology company that is built and developed by ATP and funded with a US$ 50 million Series A financing. With focus on treating human diseases by replacing mutated exons at the RNA level, Ascidian's technology enables therapeutic targeting of large genes and genes with high mutational variance while maintaining native gene expression patterns and levels. This approach is designed to provide the durability of gene therapy while reducing risks associated with DNA editing and manipulation. Ascidian is advancing its lead program for ABCA4 retinopathy in IND-enabling studies while it progresses its pipeline of programs in ophthalmology, and neurological, neuromuscular, and rare diseases.
Browse 35 Market Data Tables and 30 Figures spread through 167 Pages and in-depth TOC on “Global Stargardt Disease Therapeutics Market”- Forecast to 2030, Global Stargardt Disease Therapeuticss Market, By Drug Type (Emixustat, LBS-008, and Others (Gildeuretinol)), By Age Group (Children (Below 17 Years), Adult (Above 17 Years)), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/stargardt-disease-therapeutics-market-1314
Key Takeaways of the Global Stargardt Disease Therapeutics Market:
- Global stargardt disease therapeutics market is expected to exhibit a CAGR of 7% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global stargardt disease therapeutics market.
- Among drug type, emixustat segment is expected to hold a dominant position in the global stargardt disease therapeutics market during the forecast period due to increasing positive result from the clinical trials. For instance, in October 2022, Kubota Vision Inc., a clinical-stage ophthalmology company and wholly-owned subsidiary of Kubota Pharmaceutical Holdings Co., Ltd. (Tokyo 4596), announced the positive results from a post hoc analysis of the phase 3 clinical trial of the investigational visual cycle modulator emixustat hydrochloride (emixustat) in patients with stargardt disease.
- Among region, North America is expected to be the dominant region in the global stargardt disease therapeutics market, owing to product launches by key players. For instance, on January 30, 2023, Nanoscope Therapeutics Inc., a clinical-stage biotechnology company that develops gene therapies for retinal degenerative diseases, announced that the U.S. Food and Drug Administration (FDA) had granted Fast Track Designation (FTD) to MCO-010, an ambient-light activatable multi-characteristic opsin (MCO) optogenetic monotherapy to restore vision in blind patients, for the treatment of stargardt disease to improve visual function.
- Major players operating in the global stargardt disease therapeutics market are Kubota Pharmaceutical Holdings Co., Ltd., Stargazer Pharmaceuticals Inc., Iveric Bio, Inc., Sanofi S.A., Alkeus Pharmaceuticals Inc., Astellas Pharma Inc., CHABiotech CO., Ltd, ReVision Therapeutics, Inc., Lin BioScience, Inc., Biogen Inc., Hoffmann-La Roche AG, Ocugen, Inc., Ascidian Therapeutics, Nanoscope Therapeutics Inc., Aequus Pharmaceuticals Inc., Fera Pharmaceuticals, LLC, Insmed Incorporated, Belite Bio, Inc., and SpliceBio.
