Choroideremia Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: May 10, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 3.5 billion |
|
Revenue Forecast in 2031 |
US$ 5.5 billion |
|
CAGR |
5.3% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global choroideremia treatment market was valued at US$ 3.5 billion in 2022 and is expected to register a revenue CAGR of 5.3% to reach US$ 5.5 billion by 2031.
Choroideremia Treatment Market Fundamentals
Choroideremia is a rare inherited disorder that affects the retina. Mutations in the CHM gene cause choroideremia, which provides instructions for making Rab escort protein-1 (REP1). This protein is essential for the normal function of cells in the retina and other body parts. In individuals with choroideremia, the cells in the retina that are responsible for vision gradually degenerate over time, leading to progressive vision loss. Symptoms typically begin in childhood or adolescence, with night blindness being the first symptom, followed by progressive loss of peripheral vision and, eventually, central vision loss. Choroideremia is a progressive disorder, and there is currently no cure. However, several treatment options can help manage the condition’s symptoms and slow its progression. These include gene therapy, which aims to replace the faulty CHM gene with a functional copy, and low-vision aids, which can help individuals with vision loss to make the most of their remaining vision.
The research study on the choroideremia treatment market overview thoroughly analyzes the market, along with the aspects that either help or hinder the market's growth, such as its drivers, challenges, and opportunities. The research also discusses the list of businesses that operate in this market and their efforts to establish themselves as significant players through expansion plans and innovative ideas. It also emphasizes current events that support the market's revenue expansion. The research also analyses how the COVID-19 pandemic has affected society.
This report is an important tool for the industry stakeholders to gather all the information about the market, customers, and competition. The report also provides the readers with valuable insights on the segmentation, regions, market size & forecast, revenue CAGRs, and other valuable data to help make informed strategic decisions. The study compiles information gathered from industry participants and specialists across the industry value chain. The report also taps into the qualitative and quantitative assessments by industry analysts. Our reports use different methods for estimating the market size and forecast, including secondary research, surveys and interviews, and statistical modeling. With these steps, our reports provide the most accurate market data. These datasets will cumulatively provide in-depth choroideremia treatment market forecast to the industry stakeholders.
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Choroideremia Treatment Market Dynamics
Government and private organizations are increasing their investments in research and development activities to develop effective treatment options for choroideremia, boosting the growth of the global choroideremia treatment market. Gene therapy has emerged as a promising treatment option for choroideremia, and recent advancements in cell and gene therapy in this field have boosted the development of innovative treatment options. However, the high cost of treatment and limited availability of approved therapies are some of the restraints impeding the overall choroideremia treatment market growth.
Choroideremia Treatment Market Ecosystem
Choroideremia Treatment Market, by Type
Choroideremia Treatment Market by Type
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Gene therapy dominated the market with the largest revenue share. Gene therapy is a lucrative treatment approach for choroideremia, a rare genetic disorder that causes progressive vision loss. The goal of gene therapy in choroideremia is to replace the faulty CHM gene with a functional copy, thereby restoring the normal function of cells in the retina and slowing down the progression of the disease. Gene therapy for choroideremia involves the delivery of a functional copy of the CHM gene to the cells of the retina. This is typically done using a viral vector, a modified virus that can enter cells and deliver the new gene. Once inside the cells of the retina, the viral vector delivers the new gene, which then produces the functional REP1 protein, restoring normal cell function.
Segmentation of the market refers to the division of the industry into subgroups based on factors such as products, types, technology, services, end user, etc. Market segmentation data helps businesses to understand the preferences and unique needs of different customer groups and develop targeted sales strategies. This information also helps in identifying potential choroideremia treatment market growth opportunities.
Choroideremia Treatment Market by Region
The North America region dominated the market with the largest revenue share, owing to several clinical centers specializing in diagnosing and treating choroideremia. These centers offer various services, including genetic testing, low-vision rehabilitation, and access to emerging therapies such as gene therapy. In Canada, the Choroideremia Research Foundation Canada (CRFC) is a non-profit organization for funding research into potential treatments and cures for choroideremia. The CRFC provides funding to researchers across Canada and worldwide and is committed to raising awareness about the condition and supporting individuals and families affected by choroideremia.
Based on the regions, the global choroideremia treatment market is segmented into:
Regional demarcation of the industry will provide information on geographic pockets regarding the choroideremia treatment market outlook, size, share, and growth rate. This data helps businesses evaluate the expansion potential into new regional markets, understand the competitive threats across different regions, and develop localized sales and expansion strategies.
Key Components of the Report
Choroideremia Treatment Market Competitive Landscape
The market competitive landscape is performed by collecting and analyzing information about the key competitors, the present industry trends, and market dynamics. It includes information collection and analysis on factors such as products, pricing, geographic outreach, customer demographics, marketing strategies, and recent developments. Competitive landscape assessment will help businesses identify the current prevalent or potential opportunities and threats keeping in mind the choroideremia treatment industry trends.
Choroideremia Treatment Market Strategic Developments
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Reasons to Buy this Report
Choroideremia is a rare inherited disorder that affects the retina, which is the light-sensitive tissue at the back of the eye.
The global choroideremia treatment market was valued at US$ 3.5 billion in 2022.
North American region will have the largest choroideremia treatment market size during the forecast period from 2023 to 2031.
The revenue CAGR of the choroideremia treatment market during the forecast period will be 5.3% from 2023 to 2031.
Rising investment in research and development is the most prominent localized temperature therapy products industry trend.
The high cost of treatment and limited awareness in developing countries are some key challenges hampering the growth of the global choroideremia treatment market.
Technological advancements in gene therapy and growing awareness about choroideremia are growth opportunities in the global choroideremia treatment market.
Some of the prominent players in the choroideremia treatment market are Biogen, Copernicus Therapeutics Inc., Wize Pharma Inc., Retina Implant AG, Hoffmann-La Roche Ltd., and Pixium Vision.
The gene therapy segment has the highest share in the global choroideremia treatment market.
*Insights on financial performance are subject to the availability of information in the public domain