Global Retinal Gene Therapy Market: Overview
The retinal gene therapy market is estimated to expand at an exponential growth rate. For the use of gene therapy, retina is considered a highly desirable target as it an irreplaceable part of a body. The global retinal gene therapy market is likely to be influenced by the promise its holds for the treatment of various forms of inherited and non-inherited blindness. Furthermore, this therapy can also be used in the treatment of rare genetic retinal diseases, such as Leber’s congenital amaurosis, which is likely to augur well for the development of the global retinal gene therapy market during the forecast period, from 2024 to 2030. It is expected that the global retinal gene therapy market is anticipated to witness the entry of new players, with the presence of promising candidates in the phases of drug approval process.
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Type, application, and region are the three important parameters based on which the global retinal gene therapy market has been classified. Such detailed analysis of the market comes with the sole purpose to provide stakeholders with a detailed and clear analysis of the global retinal gene therapy market.
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Global Retinal Gene Therapy Market: Notable Developments
One of the important market developments that give a quick view of the dynamics pertaining to the global retinal gene therapy market is mentioned as below:
- In 2017, Luxturna by Spark Therapeutics received approval from food and drug administration (FDA). Philadelphia-based Spark Therapeutics is a developer of gene therapy treatments. The approval of the product is expected to bring in more developments in the field of retinal gene therapy treatment.
Global Retinal Gene Therapy Market: Key Trends
The global retinal gene therapy market is characterized by the presence of the following restraints, drivers, and opportunities.
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Advent of High-end Technologies to Support Development of the Market
Mostly in the cases of inherited retinal diseases, retinal gene therapy is performed. Gene therapy is capable of bettering vision impairment through mutation in RPE65 gene. Luxturna, a recently introduced gene therapy is utilized for the treatment of patients suffering from type 2 Leber’s congenital amaurosis. This disease is a form of inherited disease that causes impairment in vision at the time of birth, which leads to a highly progressive degeneration. At present, there are many retinal gene therapy at the clinical trial phase and those are utilizing recombinant viruses. This factor is likely to increase the scope of growth for the global retinal gene therapy market over the period of assessment, from 2024 to 2030.
In addition to that, the emergence of new market players together with the advent of high-end technological developments is likely to encourage growth of the global retinal gene therapy market during the forecast period. It is estimated that retinal gene therapy is likely to come up as a standard form of treatment for such retina-related diseases.
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Global Retinal Gene Therapy Market: Geographical Analysis
North America is clearly at the forefront of the growth of the global retinal gene therapy market at the very moment. It is estimated that the region will continue to retain its dominance over the period of forecast, from 2024 to 2030. So far, the product that has been approved for use is from a manufacturer from this region. Europe is likely to emerge as another lucrative region in the global retinal gene therapy market over the period of forecast.
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