(MENAFN - America News Hour)Research Nester released a report titled“ Tay- Sachs Disease Drug Market: Global Demand Analysis & Opportunity Outlook 2030 ” which delivers detailed overview of the global Tay-Sachs disease drugs market in terms of market segmentation by stage, treatment type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global Tay-Sachs disease drugs market is expected to witness growth at a notable CAGR during the forecast period i.e., 2021-2030 on the back of growing prevalence of the genetic disorder and need for a specific cure for the disease, backed by the growing population of the high-risk community. The eastern and central European Jewish communities, Ashkenazi Jews, certain French-Canadian communities, old order Amish community, and the Cajun community are the major carriers of this gene, and when both the parents carry the mutated HEXA gene, and the child inherits both mutated chromosomes, the child gets affected by the Tay- Sachs disease. There is no known cure for the disease and the treatment in focused on symptoms, which include loss of control over muscles, mucus accumulation in lungs, loss of motor abilities, vision and hearing, and seizures. The demand for development of newer drugs backed by the increasing R & D activities in this direction, is projected to promote the market growth throughout the forecast period.
The global Tay-Sachs disease drugs market is segmented by stage, into infantile, juvenile, and late onset. Out of these, the infantile segment is foreseen to garner the maximum revenue share during the forecast period owing the higher prevalence of infantile Tay-Sachs disease, as compared to the other stages. Moreover, the symptoms are extremely severe, and continuous treatment is required for the suffering infant, which is estimated to boost the growth of the segment. On the basis of end-user, the market is branched into hospitals, homecare, speciality clinics, and others. Among these, the speciality clinic segment is projected to hold a significant share over the forecast period, owing to the focused treatment and specialized facilities available, which are adjustable according to the needs of the patients.
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On the basis of region, the global Tay-Sachs disease drugs market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is expected to experience a noteworthy growth during the forecast period owing to the rising prevalence of the genetic disorder in the region, backed by the large population of the high-risk community. Communities, such as Amish, and Cajun communities are present in large population in various states in the U.S., including Ohio, Pennsylvania, Louisiana, and Indiana. Similarly, the French-Canadian community lives in Quebec and Nova-Scotia, in Canada. The rising population of these communities is estimated to boost the market growth. Moreover, growing medical advancements along with increased investments in medical R & D activities and improvement in healthcare infrastructure is anticipated to drive the market growth. As per the data by the WHO, total expenditure on healthcare in North America valued 16.416% of the total GDP, in 2018. The market in the Middle East and Africa region is also anticipated to witness moderate growth during the forecast period, on the back of increasing prevalence of this disease amongst the Jewish population in Israel and other countries.
Increasing Prevalence of Tay-Sachs Disease to boost the Market Growth
According to the statistics by the U.S. National Library of Medicine, in this Ashkenazi Jewish population, 1 out of every 250-300 infants suffers from Tay- Sachs disease.
The rising cases of this genetic disease, backed by the growing population of high-risk communities, is estimated to significantly boost the market growth. Moreover, increasing demand for effective treatment methods, is estimated to fuel the R & D activities, which is further expected to boost the market growth.
However, factors such as the high cost of treatment, and circulation of general drugs in the market are major challenges expected to hamper the growth of the global Tay-Sachs disease drugs market over the forecast period.
This report also provides the existing competitive scenario of some of the key players manufacturing the drugs that treat the symptoms, which includes company profiling of Sio Gene Therapies Ltd. (NASDAQ: SIOX), F. Hoffmann-La Roche Ltd (SWX: RO), Pfizer Inc. (NYSE: PFE), Bayer AG (ETR: BAYN), Bausch Health Companies Inc. (NYSE: BHC), Boehringer Ingelheim International GmbH, AbbVie Inc. (NYSE: ABBV), Amgen Inc. (NASDAQ: AMGN), Novartis AG (SWX: NOVN) and Progenity, Inc. (NASDAQ: PROG). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Tay-Sachs disease drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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