Enzyme Replacement Therapy Market Size to Hit USD US$ 21.25 billion by 2030 | Growth Plus Reports
Newark, New Castle, USA, Feb. 09, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global Enzyme Replacement Therapy Market is expected to clock US$ 21.25 billion by 2030 and to grow at a CAGR of 8.5% during the forecast period. Owing to the increasing prevalence of rare diseases and rising government initiatives for rare diseases. This exclusive information is published by Growth Plus Reports in its report titled “Enzyme Replacement Therapy Market – Global Outlook & Forecast 2022-2030”
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Demand for enzyme replacement therapy (ERT) is primarily driven by an increase in the number of rare diseases that require novel treatment techniques, growth in the availability of enzyme replacement therapies, increased awareness, and relaxing rules for rare disease therapy. Increasing medical research and more knowledge regarding enzyme replacement therapies are predicted to be prevalent drivers driving global enzyme replacement therapy market (ERT) market expansion. The rising prevalence of rare diseases, as well as initiatives undertaken by the government and others, are projected to play a significant role in the expansion of the enzyme replacement therapy market. Lamzede, which is used to treat Alpha-mannosidosis, was approved for marketing in the European Union by the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) in 2019. According to EURORDIS, there are currently about 6,000 uncommon diseases in existence, with over 30 million Europeans affected. Furthermore, at least 80% of these rare diseases are chronic and potentially fatal. As a result, the treatment of rare disorders is critical, promoting the growth of the enzyme replacement therapy market.
Excerpts from ‘By Drug Class Segmentation’
Based on drug class, the global enzyme replacement therapy market has been segmented into:
The agalsidase segment is the fastest growing segment during forecast period. Fabry is an X-linked uncommon disease that belongs to the lysosomal storage diseases group. Algasidase Alfa is a recombinant human a-galactosidase (AGAL) formulation that is used to treat Fabry disease. Shire, a subsidiary of Takeda Pharmaceutical Company, currently manufactures this enzyme under the brand name Replagal. Replagal has acquired marketing and production permission in Canada, the United Kingdom, and other regions of Europe. Furthermore, according to a report published in JIMD, Fabry disease is becoming increasingly common in the dialysis community in 2019. Fabry disease has been reported to affect approximately 1.2% of the dialysis population worldwide. As a result of the high frequency of Fabry disease, there is an increasing need for treatment, which is projected to drive the enzyme replacement therapy market in the algasidase alfa segment.
Excerpts from ‘By Region Segmentation’
Based on region, the global enzyme replacement therapy market has been segmented into
Rest of the world
North America is likely to hold a significant market position in the global artificial disc market as a result of government and other organisations' initiatives connected to rare diseases and their treatment. The National Institutes of Health, for example, provided around USD 31 million in funding to 20 teams, including five new groups of scientists, clinicians, patients, families, and patients, to study a wide spectrum of rare diseases in 2019. An additional USD 7 million has been allocated to data coordinating centres to aid in research initiatives. Furthermore, the National Center for Advancing Translational Sciences (NCATS), one of the National Institutes of Health's centres, is entirely dedicated to the treatment of patients with rare conditions. Furthermore, the rising prevalence of rare illnesses is expected to stimulate the rise of enzyme replacement therapy in North America. According to the Genetic and Rare Diseases Information Center (GARD), rare diseases currently afflict between 25 and 35 million people in the United States.
During the projected period, Asia Pacific is expected to have a significant CAGR in the market. Market growth is being driven by the rise of healthcare behemoths in quickly growing economies such as China, India, and others. These global corporations are making large investments in the Asia Pacific region's healthcare sector.
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Excerpts from ‘Competitive Landscape’
Some of the competitive players in the global enzyme replacement therapy market include:
Biomarin Pharmaceutical Inc.
Alexion Pharmaceuticals Inc.
Leadiant Biosciences, Inc.
Horizon Pharma Public Limited Company
Takeda Pharmaceutical Company Limited
Johnson & Johnson Services Inc.
Recordati Rare Diseases
Amicus Therapeutics, Inc.
Companies have been launching strategic initiatives connected to enzyme replacement therapy in order to expand their market presence. Takeda, for instance, recently displayed its latest developments in lysosomal storage disorders at the World Symposium in Orlando. Similarly, In June 2022, Recordati Rare Diseases has announced positive results from the Phase III Linc 4, Phase III Linc 3, and Illustrate ISTURISA investigations, which were presented at the ENDO 2022 symposium in Atlanta, Georgia. Most individuals tolerate this medication well and have no side effects.
Table of Content
Timeline Under Consideration
Historical Years - 2020
Base Years - 2021
Forecast Years – 2022 to 2030
Currency Used in the Report
Data Collection Methodology
Market Estimation Approach
Market Forecasting Model
Limitations and Assumptions
Current Market Trend (COVID-19 Perspective)
Key Players & Competitive Positioning (2021)
GLOBAL ENZYME REPLACEMENT THERAPY MARKET - ANALYSIS & FORECAST, BY DRUG CLASS
GLOBAL ENZYME REPLACEMENT THERAPY MARKET - ANALYSIS & FORECAST, BY ROUTE OF ADMINISTRATION
VALUE PROPOSITIONS RELATED TO THE REPORT:
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Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
Granular insights at global/regional/country level
Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
Blanket coverage on competitive landscape
Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
Distributor Landscape Assessment
Customer Base Assessment
Investment & Initiatives Analysis
'Business Profile' of Key Players
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