Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Stargardt disease is an inherited juvenile macular degeneration that causes vision loss. The signs and symptoms of the disease typically appear in late childhood or early adulthood and worsen with time. The most common cause of the disease is mutations in the ABCA4 gene. People suffering from stargardt disease might notice grey or black color in the middle of eye, or eyes may be more sensitive to bright light. Others may even have symptoms of color blindness. The prevalence for the disease is low, reported at around 1 in 8,000-10,000 people globally, as stated by National Eye Institute in April 2015. Hence, the disease falls into rare disease category. Till date, there is no treatment available, though there are multiple therapies in pipeline.
The Global Stargardt Disease Therapeutics Market is estimated to be valued at US$ 213.5 million in 2023 and is expected to exhibit a CAGR of 31.7% during the forecast period (2023 - 2028).
Figure 1.Global Stargardt Disease Therapeutics Market Share (%) in Terms of Value, By Drug Type 2023
Robust pipeline for stargardt disease therapeutics is expected to drive the market growth during the forecast period.
Approval of some therapies that are currently in pipeline is expected to drive the Global Stargardt Disease Therapeutics Market growth over the forecast period. For instance, in November 2017, Nightstar Therapeutics, a subsidiary of Biogen Inc., expanded its pipeline with gene therapy program for Stargardt Disease treatment. Moreover, Biogen Inc. acquired Nightstar Therapeutics in March 2019, in order to establish clinical pipeline of gene therapy candidate for ophthalmology.
Stargardt Disease Therapeutics Market Report Coverage
||Market Size in 2023:
||US$ 213.5 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2028 Value Projection:
||US$$ 1,701.0 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Drug Type: Emixustat, LBS-008
- By Age Group: Children (Below17 Years), Adult (Above 17 Years)
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
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., F. Hoffmann-La Roche AG
- Robust pipeline for stargardt disease therapeutics
|Restraints & Challenges:
- Availability of alternatives to restore vision in patients with stargardt disease
Figure 2.Global Stargardt Disease Therapeutics Market Share (%), by Distribution Channel, 2023
Key players focusing on strategic agreements for stargardt disease therapeutics are expected to drive the market growth during the forecast period
Market players are focusing on various inorganic growth strategies such as agreements and acquisitions to accelerate the development of treatment for stargardt disease which is expected to boost the growth of the global stargardt disease therapeutics market over the forecast period. For instance, On January 11, 2021, Aker BioMarine, a fishing and biotech company, entered into an agreement with Dr. Michael Davidson, a biotech entrepreneur, to develop pharmaceutical therapies for diseases associated with brain and eye such as Alzheimer’s Disease, dry age-related macular degeneration, and Stargardt’s juvenile blindness, by using LYSOVETA, a process established by the biotech company, Aker BioMarine for production of lysophosphatidylcholine (LPC)-bound EPA (eicosapentaenoic acid)/DHA (docosahexaenoic acid) from krill
Global Stargardt Disease Therapeutics Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it as a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 132 million infected individuals worldwide as of April 7, 2021.
COVID-19 can affect 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 China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to the transportation of drugs and devices from one place to another.
Furthermore, players operating in the global stargardt disease therapeutics market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials for manufacturing drug formulations due to irregularities in transportation facility. Moreover, distributors of products are experiencing irregular demand for products from the retailers due to increasing patient population suffering from COVID-19 and other life threatening disorders.
Global Stargardt Disease Therapeutics Market: Restraint
The major factors that hinder growth of the Global Stargardt Disease Therapeutics Market include availability of alternatives to restore vision in patients with stargardt disease
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., F. Hoffmann-La Roche AG