November 14, 2024
Leber Congenital Amaurosis Market

Leber Congenital Amaurosis Market is Estimated to Witness High Growth Owing to Increasing Research and Development of Novel Therapies

Leber congenital amaurosis (LCA) is a group of inherited retinal diseases caused by mutations in at least 18 genes that leads to significant vision loss or blindness from birth. The leading symptoms include severe vision loss in low illumination, misrouting of the optic nerve fibers and amaurotic pupils (non-reactive pupils). Increasing research and development of novel therapies such as gene therapy, retinal prosthesis and stem cell therapy are driving the growth of the LCA market.

The Global Leber Congenital Amaurosis Market is estimated to be valued at US$ 1.23 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Leber Congenital Amaurosis Market Demand are Novartis, Biogen, Spark Therapeutics, GenSight Biologics, Roche, AbbVie, Regeneron Pharmaceuticals, Pfizer, Astellas Pharma, Santen Pharmaceutical, Orphan Biovitrum, Apellis Pharmaceuticals, Gilead Sciences, Eyenovia, Avexis, Regenxbio, Horizon Therapeutics, Aerie Pharmaceuticals, Ophthotech Corporation, and Aldeyra Therapeutics. Key opportunities in the market include new product launches and increasing research funding. The market is witnessing strong growth in North America and Europe due to presence of advanced healthcare facilities and infrastructure and favorable reimbursement policies. The LCA market is also expanding in Asia Pacific majorly driven by growing patient population and increasing awareness regarding retinal diseases.

Market drivers

The key driver for the growth of Leber Congenital Amaurosis  Market Demand is increasing research funding for development of advanced therapies. Government bodies and non-profit organizations are funding numerous research projects for developing novel drugs, gene therapies and stem cell therapies to treat LCA. For instance,Spark Therapeutics’ voretigene neparvovec became the first gene therapy approved by FDA in 2017 for treatment of vision loss due to LCA. Such approvals and advancements in development of therapies are fueling the growth of global LCA market.

PEST Analysis

Political: Government regulations impact the approval and reimbursement of treatments for rare diseases like Leber congenital amaurosis. They provide incentives for research and product development through tax credits and grants.
Economic: The high cost of developing novel gene and cell therapies increases pressure on pharmaceutical companies to raise prices and healthcare systems to provide coverage for high-cost specialty drugs.
Social: Growing public awareness and patient advocacy efforts help increase support for research funding and access to therapies. Customized treatments play to demand for more personalized medicine.
Technological: Advances in gene therapy, stem cell therapy and genetic testing are expanding treatment options and enabling earlier diagnosis. Use of genome sequencing allows for more precise diagnosis and management.

North America holds the largest share of the leber congenital amaurosis market due to growing patient awareness, high acceptance of novel therapies, presence of major market players, and strong reimbursement structure. The United States accounts for the major market share in the region due to high incidence of rare genetic diseases, strong government support through grants and tax incentives, and availability of advanced healthcare facilities.

The Asia Pacific region is expected to grow at the fastest rate due to increasing healthcare expenditure, large patient population, rise in penetration of specialized diagnostic technologies, and growth in medical tourism. Countries like China and India are major contributors to the regional market due to improving medical facilities, emerging diagnostics industry, and increasing focus of international players on expanding presence in the region.

The concentration of the leber congenital amaurosis market in terms of value is highest in North America. This is attributed to factors like growing patient awareness, high acceptance of novel therapies, presence of major market players in the region, and strong reimbursement structure. On the other hand, the Asia Pacific region is expected to witness the fastest market growth due to increasing healthcare expenditure, large patient pool, improving diagnostic technologies, and rising medical tourism in countries such as China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
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Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn

About Author - Alice Mutum

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn

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