Gene therapy states a method of announcing foreign DNA constructs into host cells in demand to treat various medical conditions, including retinal diseases. Gene therapy has an increasing research potential, mainly in the arena of retinal and ophthalmic diseases. The main features of the eye include convenience in terms of surgical interventions and injections and fitted blood-ocular barriers that bar other organs from undesirable contamination. The high potential of gene therapy to treat ocular diseases is boosting the demand for the market globally. Additionally, the approval of the first gene therapy for retinal diseases in 2017 is expected to increase the demand in the coming years.
The presence of several drugs under clinical trials and their positive results are expected to generate immense opportunities for market growth over the forecast period. The evidence of the use of the gene as a medicine has come a long way and establishes its position in treating retinal disease. Certainly, with only limited availability of treatment options for retinal diseases, gene therapy has been established safe, feasible, and effective and could lead to robust effects after a single injection. The global gene therapy for retinal diseases market size is expected to reach US$ xx million by 2030, growing at a CAGR of xx% over the forecast period. Moreover, growing strategic partnerships and acquisitions among the key players operating in the market are expected to significantly propel market growth. However, the high cost associated with gene therapy may affect the growth of gene therapy in the retinal disease market. However, growing demand for modified and effective treatment and rising research funding globally is estimated to drive the market growth substantially during the estimated time frame.
The Global Gene Therapy for Retinal Diseases Market is segmented on the basis of indication, and region. Based on the indication, the market is divided into Choroideremia (CHM), Leber congenital amaurosis, Leber’s hereditary optic neuropathy, X-linked retinitis pigmentosa, and Other Indication. Based on the region, the market is studied across North America, Asia-Pacific, Europe, and the Rest of the World. North America accounted for the significant share in the gene therapy for retinal disease market, followed by Europe. A large number of research laboratories and biopharmaceutical companies operating in the market are contributing towards the high share of the region in the global market. Additionally, well-established healthcare infrastructure in the U.S. and the high adoption of advanced technologies for treatment are propelling the growth of U.S. gene therapy for the retinal diseases market.
The key players of this market include Applied Genetic Technologies Corporation, Adverum Biotechnologies, ProQR Therapeutics, MeiraGTx Limited., Oxford BioMedica, Horama S.A., Gensight Biologics, Regenxbio Inc., Spark Therapeutics, Inc., Genzyme (Sanofi), Novartis Pharmaceuticals, Nightstar Therapeutics (Biogen), Hemera Biosciences, among Allergan among others. The growing mergers and acquisitions among key players operating in the market are expected to foster market growth significantly in the coming years.