In a comprehensive analysis released by Future Market Insights, the global sandhoff disease therapeutics market is projected to undergo significant growth. According to the study, the market, which is poised to accumulate a value of US$ 10 million by the end of 2023, is expected to reach a remarkable valuation of US$ 17.91 million by 2033. This growth trajectory corresponds to a compound annual growth rate (CAGR) of 6% during the forecast period spanning from 2023 to 2033.
Sandhoff disease is a rare genetic disorder, affecting approximately 1 in 1,000,000 individuals globally. It is characterized by the accumulation of certain fats in the brain and other organs, leading to progressive neurological damage. Despite its rarity, the demand for effective treatments for Sandhoff disease is on the rise, underscoring the urgent need for research and development in this field.
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The anticipated expansion of the Sandhoff disease therapeutics market is largely attributed to increasing investments in healthcare research, coupled with a growing awareness of rare diseases. Moreover, the pressing demand for innovative treatment options is expected to catalyze the development of novel therapeutics, thereby propelling market growth over the coming decade.
Industry experts predict that the advancement of new therapeutic approaches, including gene therapy and enzyme replacement therapies, will play a pivotal role in addressing the unmet needs of patients suffering from Sandhoff disease. These innovations are poised to not only enhance the quality of life for affected individuals but also to extend survival rates significantly.
As the global healthcare community continues to focus on rare diseases, the Sandhoff disease therapeutics market stands at the forefront of significant breakthroughs that promise to transform patient care. Stakeholders across the healthcare spectrum, from pharmaceutical companies to research institutions, are encouraged to engage in collaborative efforts to accelerate the pace of therapeutic development and bring hope to families affected by this devastating condition.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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