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Press Release: Stargardt Disease Therapeutics Market to Surpass US$ 1,701.0 Million by 2028
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.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2023: | US$ 213.5 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 31.7% | 2028 Value Projection: | US$$ 1,701.0 Mn |
| Geographies covered: |
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| Companies covered: |
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 |
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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
Key Players
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
Stargardt disease also called Stargardt's macular dystrophy (SMD) that affects approximately one in 10,000 people and described as central vision loss early in life. Stargardt Disease is most commonly caused by mutations in the ABCA4 gene located on chromosome 1 and is inherited in an autosomal recessive manner. This disorder affects the specialized light-sensitive tissue present in the retina. This type of macular degeneration affects the center of the retina which is known as macula which adds sharpness to the central vision. The affected individuals also show the symptoms of color blindness. The signs and symptoms appear in late childhood which is responsible for disease progression.
Market Dynamics
The increasing prevalence of stargardt disease is expected to drive the market growth over the forecast period. For instance, according to the article published in the Association for Research in Vision and Ophthalmology journal, the worldwide prevalence of stargardt disease is estimated to be in between 1 in 8,000 to 10,000 individuals.
Furthermore, key players operating in the Global Stargardt Disease Therapeutics Market are focusing on adoption of growth strategies are expected to drive the market growth during the forecast period. For instance, in July 2017, Ophthotech Corporation, a clinical stage company, is adopting a new strategy to leverage its clinical experience and retina expertise to identify and develop therapies to treat multiple orphan ophthalmic diseases for which there are limited or no treatment options available. Ophthotech’s orphan ophthalmic disease strategy will be led by a randomized, controlled clinical trial assessing the efficacy and safety of Zimura (avacincaptad pegol), the company’s C5 complement inhibitor, for Stargardt disease.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 35 market data tables and 30 figures on "Global Stargardt Disease Therapeutics Market” - Global forecast to 2028
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