Global GM1 Gangliosidosis Treatment Market, by Product Type (LYS-GM101, PBGM01, AXO-AAV-GM1), by Disease Type (Type 1 GM1 Gangliosidosis, Type 2 GM1 Gangliosidosis, and Type 3 GM1 Gangliosidosis), and by Region (North America, Europe and Rest of World) is estimated to be valued at US$ 142.1 million in 2025 and is expected to exhibit a CAGR of 35.6% during the forecast period, as highlighted in a new report published by Coherent Market Insights.
The global GM1 gangliosidosis treatment market is expected to witness significant growth owing to increasing focus of key players on research and development to expand their product portfolio and market presence. For instance, in February 2017, Lysogene, announced that they received orphan drug designation for LYS-GM101 by European Medicines Agency (EMA).
Moreover, key players are focusing on research and development of treatments for GM1 gangliosidosis disorder which is expected to drive growth of the global GM1 gangliosidosis treatment market. For instance, in 2019, Axovant Gene Therapies Ltd, a developer of gene therapies for treatment of neurological and neuromuscular diseases, announced dosing of AXO-AAV-GM1 to their first patient in the clinical program of AXO-AAV-GM1, a novel gene therapy for GM1 gangliosidosis.
Global GM1 Gangliosidosis Treatment Market – Impact of Coronavirus (COVID-19)
- The COVID-19 pandemic has drastically affected several markets across the globe and it is expected to affect the global gm1 gangliosidosis treatment market in the following ways;
- The coronavirus or COVID-19 outbreak that started from Wuhan, China has spread across continents, affecting various industries globally. Supply of key materials has been severely disrupted due to the forced quarantine, and lack of labor and raw materials and it has also a wide impact on clinical trials.
- According to the report published by European Pharmaceutical Review on September 2020, impact of COVID-19 on clinical development is continuing to mount, with many clinical trial sites unable to fully resume following suspension in March and April 2020. Previous research in May 2020 conducted by Phesi—a clinical development company—found that of the 300,000 global clinical trial sites, there had been a 38% increase in suspensions from the beginning of 2020. However, new analysis from September 2020 indicates these suspensions peaked in early June and after an initial drop have risen again – with over 28,000 sites currently suspended.
Browse 16 Market Data Tables and 16 Figures spread through 101 Pages and in-depth TOC on “Global GM1 Gangliosidosis Treatment Market, by Product Type (LYS-GM101, PBGM01, AXO-AAV-GM1), by Disease Type (Type 1 GM1 Gangliosidosis, Type 2 GM1 Gangliosidosis, and Type 3 GM1 Gangliosidosis), and by Region (North America, Europe and Rest of World)
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The market is expected to witness significant growth during the forecast period as key players ate focusing on adoption of inorganic growth strategies such as collaborations to expand their product portfolio and presence in the market. For instance, in May 2020, Lysogene collaborated with Novasep, a supplier of services and technologies for life science sector. The collaboration is expected to facilitate the research, development and manufacture of LYS-GM101, an AAVrh10- based gene therapy for treatment of GM1 Gangliosidosis.
Key Takeaways of the Global GM1 Gangliosidosis Treatment Market:
- The global GM1 gangliosidosis treatment market is expected to exhibit a CAGR of 35.6 % during the forecast period owing to an increasing number of ongoing clinical trials for treatment of GM1 gangliosidosis.
- Among product type, LYS-GM101 segment is estimated to hold major market share in the global Gangliosidosis treatment market, owing to greater efficiency in treatment of GM1 Gangliosidosis rare disorder with recombinant adeno- associated virus 9aav, which directly acts on the nerve cells of the patients.
- Among disease type, Type-1 GM1 gangliosidosis segment is estimated to hold major market share in the global gangliosidosis treatment market owing to rising prevalence of type-1 GM1 gangliosidosis in newborns.
- Key players operating in the global GM1 gangliosidosis treatment market are Lysogene, Axovant Gene Therapies Ltd. and Passage Bio.