In 2023, the global Nucleic Acid And Gene Therapies In Neuromuscular Disorders market is expected to be worth US$ 7.88 billion. With the rising prevalence of cancer and other target diseases, the overall demand for Nucleic Acid And Gene Therapies In Neuromuscular Disorders is expected to grow at a CAGR of 9.5% between 2023 and 2033, reaching approximately US$ 19.52 billion by 2033.
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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.
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 in the near future.
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.
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Key Takeaways from the Market Study
- Global Nucleic Acid And Gene Therapies in Neuromuscular Disorders Market was valued at US$ 7.19 Billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 3.5%
- 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 9.5%.
- By 2033, the market value of Nucleic Acid And Gene Therapies in Neuromuscular Disorders is expected to reach US$ 19.52 Billion.
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 Market during the forecast period, remarks an FMI analyst.
Competitive Landscape
Prominent players in the Nucleic Acid And Gene Therapies In Neuromuscular Disorders market 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.
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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 Market 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
Know More About What the Nucleic Acid And Gene Therapies in Neuromuscular Disorders Market Repost Covers
Future Market Insights offers an unbiased analysis of the global Nucleic Acid And Gene Therapies in Neuromuscular Disorders Market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033. To understand opportunities in the Nucleic Acid And Gene Therapies in Neuromuscular Disorders Market, the market is segmented on the basis of disorder, therapy, and application, across five major regions.
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