The Sandhoff Disease Therapeutics Market is projected to reach US$ 10 million by 2023 and US$ 17.91 million by 2033, exhibiting a CAGR of 6% between 2023 and 2033. The market grew at a CAGR of 4% from 2018 to 2022.
Sandhoff disease is a rare condition that affects only one in a million individuals. The increasing demand for treatments for this disease is driving the development of new and innovative therapies, which is expected to propel the industry forward in the coming years.
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One promising treatment for Sandhoff disease is gene therapy, which involves introducing a functional copy of the missing enzyme into the patient’s cells to restore their ability to break down GM2 ganglioside. This therapy has the potential to halt or delay disease progression, thereby improving the patient’s quality of life. Current research is focused on developing effective gene therapy treatments for Sandhoff disease.
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% during the forecast period.
“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
The North American market has a significant market share due to the high prevalence of Sandhoff disease and the presence of advanced healthcare infrastructure. The United States is the largest contributor to the North American market.
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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
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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 on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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