According to a recent study published by Future Market Insights, the global sandhoff disease therapeutics industry is slated to experience noteworthy expansion. The market for Sandhoff disease therapeutics is forecast to accumulate a market value of US$ 10 million by 2023-end, and will ultimately reach a valuation of US$ 17.91 million by 2033. Registering a CAGR of 6% in the forecast period 2023 to 2033.
According to the latest studies, Sandhoff disease is a rare disorder that is estimated to affect 1 in 1,000,000 individuals. The increasing demand for these treatments is expected to lead to the development of new and innovative treatments, which will drive the growth of the market in the coming years.
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Gene therapy is being researched as a potential treatment for Sandhoff disease. The therapy works by introducing a functional copy of the missing enzyme into the patient’s cells, thereby restoring the ability to break down GM2 ganglioside. This can potentially slow or stop the progression of the disease, and improve the patient’s quality of life.
Key Takeaways from the Market Study:
- From 2018 to 2022, the Sandhoff disease therapeutics market grew at a CAGR of 4%.
- The global Sandhoff disease therapeutics market is expected to grow with a 6% CAGR during 2023 to 2033.
- As of 2033, the sandhoff disease therapeutics Market is expected to reach US$ 17.91 Million.
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 40% market share for the Sandhoff Disease Therapeutics market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a share of 20%.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Sandhoff disease therapeutics.” says an FMI analyst
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Market Competition:
Key players in the market include pharmaceutical companies such as Bioasis Technologies Inc, Nuo Therapeutics Inc., Sio Gene Therapies, Inc., INTRABIO IRELAND LIMITED, Sanofi, ROIVANT SCIENCES LTD, Azafaros, Polaryx Therapeutics, Abbott Medtronic, and Merck & Co., Inc. along with healthcare providers and technology companies among other global players.
- In November 2020, Axovant Gene Therapies Ltd., a company developing gene therapies, announced that the FDA has cleared its Investigational New Drug Application to start a registrational study of AXO-AAV-GM2 gene therapy for Tay-Sachs and Sandhoff diseases.
- AXO-AAV-GM2 is the first gene therapy to receive IND clearance for these diseases. The FDA letter confirms that all issues related to the clinical hold have been resolved. This marks a significant moment for the GM2 gangliosidosis community and is the second IND clearance for Axovant’s gene therapy pipeline in the last year, with the first being AXO-AAV-GM1 for GM1 gangliosidosis.
More Insights Available:
FMI, in its new offering, presents an unbiased analysis of the global Sandhoff Disease Therapeutics market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of Type, Therapy, End-Users and Region.
Key Segments Profiled in the Sandhoff Disease Therapeutics Industry Survey:
Therapy:
- Gene Therapy
- Enzyme Replacement Therapy
- Stem Cell Therapy
Type:
- Acute infantile Sandhoff disease
- Subacute juvenile Sandhoff disease
- Late-onset Sandhoff disease
End-Users:
- Hospitals
- Homecare
- Specialty Clinics
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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