Market Analysis and Insights: Global Usher Syndrome Type 2 Treatment Market
Usher syndrome Type 2 treatment market is expected to grow at a substantial CAGR in the forecast period of 2019-2026. Emgerence of drugs used to treat risk associated with Usher syndrome such as goiter and high demand of disease specific novel therapies are the key factors that fueling the market growth
Market Definition: Global Usher Syndrome Type 2 Treatment Market
Usher syndrome is formally known as Hallgren syndrome is a rare inherited genetic disorder caused by mutations in either of the gene called MYO7A gene, CDH23 gene, USH2A gene or CLRN1 gene. It is characterized by bilateral sensorineural hearing loss, progressive vision loss (known as retinitis pigmentosa) and in some cases vestibular dysfunction. Basically, these genes are important for the normal function and development of specialized cells called hair cells, which help to transmit sound and signals from the inner ear to the brain and maintenance of light-sensing cells in the retina.
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Competitive Analysis:
Global Usher syndrome type 2 treatment markets is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global Usher syndrome type 2 treatment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Drivers
• Special designation from the regulatory authorities to make approval faster is driving the growth of the market
• Advancement in cochlear implantation and hearing kits can improve the hearing is enhancing the market growth
• Huge financial support to the researchers for developing novel intervention is boosting the market growth
• High demand of disease specific novel treatment can also act as a market driver
Market Restraints
• Limited operating revenue opportunities for research and development of targeted therapies by many pharmaceuticals is acting as a challenging factor for the growth of this market
• Low healthcare budget in some developing countries is hamper the market growth
• Unaffordability and inaccessibility of cochlear implant to many underserve population can act as a restricting factor in the growth of this market
Segmentation: Global Usher Syndrome Type 2 Treatment Market
By Treatment
• Cochlear Implant
• Hearing Aids
• Vitamin A
By Route of Administration
• Oral
• Implantation
By Diagnosis
• Genetic Testing
• Videonystagmography
• Others
By End Users
• Hospitals
• Homecare
• Specialty Clinics
• Others
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Others
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Key Developments in the Market:
• In January 2019, ProQR Therapeutics received Fast Track designation from the FDA for QR-421a, RNA-based oligonucleotide for the treatment of Usher syndrome type 2. QR-421a has also received an Orphan Drug designation in the United States and the European Union. With Fast Track designation for QR-421a accelerates the review timelines and enhances interactions with the FDA, which can bring this potentially disease-modifying drug for patients with Usher syndrome as quickly as possible.
• In July 2019, Sensorion received the Investigational New Drug (IND) approval from the FDA to proceed with arazasetron besylate (formally known as SENS-401) for the treatment of sudden sensorineural hearing loss. This drug is also received an Orphan Drug designation in the Europe. With this IND approval, company can initial trials on human subject and if trial successful, SENS-401 could be a safe and effective treatment options for underserved patient population.
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Key Market Players:
Few of the major competitors currently working in the global Usher syndrome type 2 treatment market are ProQR Therapeutics, Editas Medicine, Nobelpharma Co., Ltd, Sensorion, Advanced Bionics AG, MED-EL Medical Electronics, Cochlear Ltd, Sonova, GAES, Demant A/S, Nurotron Biotechnology Co. Ltd, GN Store Nord A/S, Amplifon, Audina Hearing Instruments, Inc, Elkon Pvt. Ltd, Rion Co. , Ltd, Starkey and others.
Research Methodology: Global Usher Syndrome Type 2 Treatment Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
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