"Navigating the Enzyme Replacement Therapy Market: Strategies for Success"

October 13, 2023

October 13th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Enzyme Replacement Therapy Market.

The Enzyme Replacement Therapy Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The enzyme replacement therapy market was estimated at US$ 7.93 billion in 2021 and is expected to grow at a CAGR of 8.28% during 2022-2028 to reach US$ ~13.9 billion in 2028. The increasing availability of enzyme replacement therapy, increased awareness, and less stringent standards for rare disorders are generating market potential.

Segments Analysis

By Enzyme Type

The market is segmented into pancreatic enzymes, agalsidase beta, taliglucerase, velaglucerase alfa, laronidase, alglucosidase alfa, galsulfase, idursulfase, pancreatic enzymes, pegademase, and others. One of the main reasons for the increased frequency of Gaucher disease is the significant market share of enzymes like imiglucerase and velaglucerase alfa.

Pancreatic enzymes such as amylase, lipase, and protease are increasingly being utilized to treat exocrine pancreatic insufficiency (EPI), which is frequent in cancer patients. According to the American Cancer Society, more than 55,440 people are expected to be diagnosed with pancreatic cancer in 2018. Thus, rising pancreatic cancer incidence is likely to boost market growth throughout the predicted period.

Agalsidase beta, which is used to treat Fabry's disease, is expected to grow at a steady CAGR during the projection period. Fabrazyme by Sanofi Genzyme is an enzyme replacement medicine used to treat hereditary diseases. It works by replacing the enzyme responsible for low levels of GL-3, which is missing or defective in Fabry's disease patients. Because the majority of these diseases are inherited, early treatment is critical to lowering mortality rates. Rising disease awareness has contributed to an increase in demand for enzyme replacement treatment solutions. As a result, enzymes are expected to grow rapidly during the forecast period.

By Disease Indication Type

The market is divided into Gaucher disease and others. Fabry disease, Pompe disease, SCID, MPS, and others. The MPS segment is further divided into MPS I - Hurler, Hurler Scheie and Scheie, MPS II – Hunter, and MPS III – Sanfilippo. The high prevalence of Gaucher's disease is due to its considerable market share. Gaucher disease is an inherited condition caused by a recessive gene mutation. According to the National Library of Medicine, the disease is predicted to affect one in every 50,000 to 100,000 people in the general population, depending on the region. According to Clinicaltrials.gov, around 60 studies for Gaucher's disease are now underway, with pharmaceutical companies funding the majority of them. Diseases such as Fabry, Pompe, and MPS are also gaining traction in the market as a result of increased awareness generated by organizations such as NORD (National Organization for Rare Disorders), Global Genes, GARD (Genetic and Rare Diseases Information Center), and the National Institutes of Health, among others.

Regional Analysis

The enzyme replacement therapy market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America led the market. The presence of prominent market participants in North America, as well as well-developed healthcare infrastructure, has propelled the regional segment's rise. Furthermore, the region's embrace of sophisticated technology and increased focus on medication research are projected to promote industry growth.

After North America, the European region accounted for the second-highest revenue. The European region's healthcare system is publicly funded, and some countries have implemented universal healthcare systems. The existence of a large number of MPS and SCID patients is one of the reasons driving market expansion in the European region.

According to Shire Outcome Surveys' Fabry Outcome Survey data, Germany, Japan, and the United Kingdom have the highest prevalence of Fabry's disease. According to data from the FDA's Novel Drug Approvals, more than 39% of novel medications authorized in 2017 were for orphan diseases. These and other factors are expected to drive regional market expansion even further. The Asia Pacific region includes both industrialized and emerging countries such as China, India, and others. The majority of the countries in this region are economically developing, with rising disposable income. Many global corporations are making significant investments in this region. Furthermore, countries such as Japan are technologically sophisticated in healthcare and medical research, which helps the industry.

Request a Sample here: https://www.stratviewresearch.com/Request-Sample/3156/enzyme-replacement-therapy-market.html#form

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Enzyme Replacement Therapy Market analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors 

About Stratview Research

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

Contact: Stratview Research

E-mail: sales@stratviewresearch.com

Direct: +1-313-307-4176

Author : Emily

Frequently Asked Questions (FAQs)

In 2021, North America led the market. The presence of prominent market participants in North America, as well as well-developed healthcare infrastructure, has propelled the regional segment's rise.

Tags :

Industry News
x

We use cookies to deliver the best possible experience on our website. To learn more, visit our Privacy Policy and Cookie Policy. By continuing to use this site or closing this box, you consent to our use of cookies! Accept