The fight against neuromuscular disorders is gaining momentum with the rise of innovative therapies. A new market analysis projects the global Nucleic Acid and Gene Therapies in Neuromuscular Disorders Market to reach a substantial USD 19.52 billion by 2033. This signifies a significant increase from its current valuation of USD 7.88 billion in 2023. The market is anticipated to grow at a promising Compound Annual Growth Rate (CAGR) of 9.5% over the next decade.
The diagnosis of neuromuscular disorders is performed through physical examination as well as certain diagnostic tests. A physician runs a complete medical history assessment to determine if any family member had previously had symptoms of neuromuscular disorders, to assess the condition of a patient.
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The global nucleic acid and gene therapies in neuromuscular disorders market is driven by major factors such as rise in government initiatives to ensure early diagnosis, an increase in awareness about genetic disorders, an upsurge in research and development activities, and improvement in healthcare infrastructure.
Factors including the expanding investments by key market players, a strong product portfolio, as well as a high prevalence of target diseases and interest in innovative and new therapy are expected to escalate the market growth in the forthcoming years. In addition, the increased investment in research and development by government and private organizations are anticipated to further create lucrative avenues for the market growth over the analysis period.
In recent years, the rapid technological advancements in cellular and molecular biology in genomics research are other factors that have been contributing greatly to the market growth. The academicians, researchers, and in-house researchers of major market companies with significant funding have all played critical roles.
The frequency of cardiovascular diseases is increasing in many industrialized countries, and there is a growing need to cure these diseases in less time, resulting in players investing extensively in research and development of highly effective and innovative therapeutics such as gene therapy. The prevalence of rare diseases such as cardiovascular and cancer diseases will have positive impact on the demand for gene therapy applications. This in turn is likely to expand the market growth shortly.
Currently, only a few market players are dominating the market growth, and are significantly contributing to the market’s expansion. The core members who are working on item dispatching and other important coordinated activities to strengthen their market reach globally. In order to increase their cancer gene therapy research and product portfolio, local and small market players are increasingly partnering and developing alliances with large market players.
Key Takeaways from the Nucleic Acid And Gene Therapies In Neuromuscular Disorders Market Study
- Global Nucleic Acid And Gene Therapies in Neuromuscular Disorders Industry was valued at US$ 7.19 Bn by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 5%
- By Therapy, the Spinal Muscular Atrophy segment of the market constitutes the bulk of the market with a market share of 46%
- By Application, the Hospitals segment dominates the market with a share of 45%
- From 2023 to 2033, Nucleic Acid And Gene Therapies in Neuromuscular Disorders sales are expected to flourish at a CAGR of 5%.
- By 2033, the market value of Nucleic Acid And Gene Therapies in Neuromuscular Disorders is expected to reach US$ 52 Bn.
Increasing research and development, as well as the growing prevalence of neuromuscular disease are the major factors that are expected to accelerate the growth of the Nucleic Acid And Gene Therapies in Neuromuscular Disorders Industry during the forecast period, remarks an FMI analyst.
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Competitive Landscape
Prominent players in the Nucleic Acid And Gene Therapies In Neuromuscular Disorders industry are Pfizer, Inc., F. Hoffmann-La Roche Ltd., UCB Pharma, Biogen, Astellas Pharma, Inc., Novartis AG, Abbott Laboratories, Inc., and Sanofi, among others.
Recent Developments:
- In May 2021, Biogen and Capsigen collaborated to discover as well as develop novel AAV Capsids with enhanced properties to facilitate the development of new gene therapies for targeted CNS and Neuromuscular Disorders. Capsigen’s screening technology is designed to produce dose optimized, fit for purpose vectors that may have applicability across Biogen’s gene therapy pipeline. Capsigen received a $15 million upfront payment and is eligible to receive potential research, development and commercial milestone payments.
- In June 2019, Vertex Pharmaceuticals Incorporated announced the enhancement of its gene editing capabilities to develop novel therapies for Duchenne Muscular Dystrophy (DMD) and Myotonic Dystrophy Type 1 (DM1) by expanding its collaboration with CRISPR Therapeutics and acquiring Exonics Therapeutics. Vertex and CRISPR Therapeutics had expanded their collaboration and entered into an exclusive licensing agreement to discover and develop gene editing therapies for the treatment of DMD and DM1.
Know More About What the Nucleic Acid And Gene Therapies in Neuromuscular Disorders Market Report Covers
Future Market Insights offers an unbiased analysis of the global Nucleic Acid And Gene Therapies in the Neuromuscular Disorders Market, providing historical data for 2018-2022 and forecast statistics from 2023-2033. To understand opportunities in the Nucleic Acid And Gene Therapies in Neuromuscular Disorders Industry, the market is segmented based on disorder, therapy, and application, across five major regions.
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Key Segments Covered in the Nucleic Acid And Gene Therapies In Neuromuscular Disorders Industry Analysis
Nucleic Acid And Gene Therapies In Neuromuscular Disorders Industry by Disorder:
- Motor Neuron Diseases
- Neuropathies
- Neuromuscular Junction Disorders
- Myopathies including Muscular Dystrophies
Nucleic Acid And Gene Therapies In Neuromuscular Disorders Market by Therapy:
- AAV Gene Therapy
- Postnatal Gene Therapy
- Spinal Muscular Atrophy
Nucleic Acid And Gene Therapies In Neuromuscular Disorders Market by Application
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
Nucleic Acid And Gene Therapies In Neuromuscular Disorders Industry by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel and End Use over the next 10-years.
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