Stargardt Disease Therapeutics Market to Surpass US$ 1,701.0 Million by 2028 - Coherent Market Insights

Global Stargardt Disease Therapeutics Market, 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), 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 (2023-2028), as highlighted in a new report published by Coherent Market Insights.

Key development by market players is expected to drive the Global stargardt disease therapeutics market growth over forecast period. For instance, In November 2019, Applied Genetic Technologies Corporation, a biotechnology company, announced that it has identified Stargardt disease as the second ophthalmology program in its previously announced preclinical pipeline expansion, which also includes a program targeting the dry form of age-related macular degeneration (AMD). The company is also reporting proof-of-concept expression data for its Stargardt disease gene therapy candidate in non-human primates (NHPs).

Global Stargardt Disease Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic on Clinical Trials and Drug Development

The COVID-19 pandemic caused major disruptions to clinical trial execution in the U.S., impacting key stakeholders across the industry. Investigative site capabilities experienced upheaval, driven by staff furloughs, social-distancing protocols, financial losses, and concerns over patient safety. Sponsors, CROs, and other organizations that support drug development shifted to remote working environments. An estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic. An April 2020 study suggests that investigative sites demonstrated flexibility and ingenuity in adopting new approaches in order to cope with challenges presented by the COVID, with over half of investigative sites transitioning to virtual approaches to interact with patients. More recently, follow-up studies performed in August 2020 have identified persistent impact of COVID, with over 60% reporting an 'average' or greater level of impact on ongoing trials and initiation of new trials. Respondents specifically highlighted challenges in patient enrollment and recruitment. There are total 6,114 clinical trials suspended/withdrawn or terminated from September 1, 2019 till October 13, 2020. Out of which 1,008 clinical trials were suspended due to COVID-19 pandemic which accounted for 16% of total trials suspended/withdrawn or terminated and 84% of trials because of other reasons. Among 1,008 trials, 77% trials were suspended, 16% of trials were terminated, and 7% of trials were withdrawn. Trials which are in Phase 2 are mostly affected by this pandemic situation. This has potentially extended or pushed the completion date ahead and thus the launch of new products. Moreover, according to a survey conducted by Medidata Solutions, Inc. (an American technology company, which develops and markets software as a service for clinical trials), on April 23, 2020, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents have postponed their studies

Browse 35 Market Data Tables and 30 Figures spread through 167 Pages and in-depth TOC on “Global Stargardt Disease Therapeutics Market”- Forecast to 2028, Global Stargardt Disease Therapeutics Market, 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), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

https://www.coherentmarketinsights.com/market-insight/stargardt-disease-therapeutics-market-1314

Key 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, in September 2020, ReVision Therapeutics, Inc., an early stage biopharmaceutical company, entered into an exclusive license agreement with Cornell University ("Cornell") to develop and commercialize the proprietary technology from Cornell for the treatment of Stargardt disease.

Key Takeaways of the Global Stargardt Disease Therapeutics Market:

• The Global Stargardt Disease Therapeutics Market is expected to exhibit a CAGR of 31.7 % during the forecast period owing to increasing adoption of inorganic growth strategies by key players operating in the market are expected to drive growth of the global stargardt disease therapeutics market over the forecast period. For instance, In February 2019, F. Hoffmann-La Roche AG entered into a definitive merger agreement to acquire Spark Therapeutics, Inc., a developer of gene therapy treatments for diseases such as hemophilia, Huntington's disease, and Stargardt disease.
• On the basis of Drug type, Emixustat segment is estimated to exhibit a higher CAGR  in the Global Stargardt Disease Therapeutics Market in 2023. For instance, in January 2017, Acucela Inc., a wholly-owned subsidiary of Kubota Pharmaceutical Holdings Co., Ltd., received orphan drug designation for its leading product emixustat for the treatment of Stargardt disease.
• In terms of Age Group, Adult (Above 17 Years) segment is estimated to hold a dominant position in the Global Stargardt Disease Therapeutics Market during forecast period. Moreover, increasing patient population suffering form atrial fibrillation is expected to drive the segment growth over the forecast period. For instance, according to the article published in the Association for Research in Vision and Ophthalmology journal in October 2016, Stargardt disease is an autosomal recessive retinal dystrophy caused by mutations in the ABCA4 gene, and affects 1:8000 to 1:10,000 people worldwide and patients generally develop central loss of vision in childhood or early adulthood
• Among the Distribution Channel, Online pharmacies segment estimated dominate the Global Stargardt Disease Therapeutics Market during the forecast period. Online pharmacies are well-established mode of drug distribution in developed countries such as the U.S. However, the increasing trend of online pharmacies in emerging economies is expected to create a conducive environment for growth of the online pharmacies segment over the forecast period. For instance, in 2017, Netmeds, an e-pharmacy chain, announced its plans to expand its presence in India's small towns and cities, to offer faster delivery to customers.
• Among the regions, North America is expected to hold dominant position in the global stargardt disease therapeutics market over the forecast period, owing to the increasing number of product launches and approvals associated with stargardt disease therapeutics by regulatory bodies. For instance, in January 2021, Nanoscope Therapeutics Inc., a clinical-stage biotechnology company, received Orphan drug designation for vMCO-010, a gene therapy-based treatment for Stargardt disease, from the U.S. Food and Drug Administration (FDA)
• 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.