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 There are total 6,114 clinical trials suspended/withdrawn or terminated from September 1, 2019 till October 13, 2020.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)
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:
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