Global Tay-Sachs Disease Drugs Market Key Insights
During the forecast period of 2023-2035, the global Tay-Sachs disease drugs market is expected to reach an estimated value of ~USD 20 billion by 2035, by expanding at a CAGR of ~8%. The market further generated a revenue of ~USD 10 billion in the year 2022. Major key factors propelling the growth of Tay-Sachs disease drugs market worldwide are the increasing prevalence of genetic disease and rising cases of Tay-Sachs disease.
Market Definition of Tay-Sachs Disease Drugs
Tay-Sachs disease is a genetic disorder, which is rare and can be inherited by the preceding generation. It is recognized by the onset of neurological problems, as the disease kills the nerve cells. It is also known as Hexosaminidase A, and it is the most common type of Tay-Sachs disease. It is caused by hexosaminidase enzymes which impact the digestion of fatty substances, such as gangliosides. Moreover, these fatty elements are deposited in the spinal cord and brain. Tay-Sachs disease commonly affects infant around the age of 6 months, and the baby dies, usually by the age of 5 years. Furthermore Tay-Sachs disease drugs are used to control the severe symptoms and complication faced by the patient suffering from the diseases.
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Global Tay-Sachs Disease Drugs Market: Growth Drivers
The growth of the global Tay-Sachs disease drugs market can majorly be attributed to the rising cases of genetic mutations leading to genetic disorders among people. According to the World Health Organization, around 2%–5% of all live births are affected by genetic illnesses and congenital anomalies, which can also account for up to 30% of pediatric hospital admissions and 50% of infant fatalities in developed nations. On the other hand, the increasing incidence of Tay-Sachs disease among people is expected to boost market’s growth. For instance, in the Ashkenazi Jewish community (Eastern Europe) every 1 in 30 people is the carrier of the affected gene, and in 3,600 newborns, at least 1 baby is affected by Tay-Sachs disease.
The global Tay-Sachs disease drugs market is also estimated to grow majorly on account of the following:
- Rising emergence for better drugs to treat the symptoms associated with the disease
- Growing investment and efforts in the research and development of drugs for the treatment of Tay-Sacha disease
- Rising population of new babies
- Growing need for therapeutic treatment
Global Tay-Sachs Disease Drugs Market: Restraining Factor
The treatment for Tay-Sachs disease is pretty expensive. Moreover, there is no specific cure for Tay-Sachs disease, the circulated drugs in the market are only for controlling the symptoms to some extent. Hence, this factor is expected to be the major hindrance to the growth of the global Tay-Sachs disease drugs market during the forecast period.
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Global Tay-Sachs Disease Drugs Market Segmentation
- By Stage (Infantile, Juvenile, and Late-Onset)
The infantile segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2035. The growth of the segment can be attributed to the prevalence of the disease among infants. In 90% of cases of Tay-Sachs Disease, the symptoms of the disease started reflecting during infantile age around the globe. It causes startled reactions in babies to loud noises, seizures, vision loss, muscle weakness, loss of motor skills, and others.
- By Treatment Type (Physical Therapy, Chest Physiotherapy, Respiratory Care, Antipsychotic Medications, and Others)
- By End-User (Hospitals, Homecare, Specialty Clinics, and Others)
- By Region
The North America Tay-Sachs disease drugs market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions. The market’s growth in North America region is expected to surge on the account of rising cases of Tay-Sachs disease in the country such as the United States. According to the reported data, in the Jewish population in the United States, one in 27 people carries the gene, and one in 250–300 live births has Tay–Sachs disease. Moreover, around 16 cases of Tay-Sachs disease are diagnosed, every year in the United States.
The market research report on global Tay-Sachs disease drugs also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
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Key Market Players Featured in the Global Tay-Sachs Disease Drugs Market
Some of the key players of the global Tay-Sachs disease drugs market are Sio Gene Therapies Ltd., F. Hoffmann-La Roche Ltd, Pfizer Inc., Bayer AG, Bausch Health Companies Inc., Boehringer Ingelheim International GmbH, AbbVie Inc., Amgen Inc., Novartis AG and Progenity, Inc., and others.
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