Enzyme Replacement Therapy Market Expected to Reach USD 12.13 billion by 2026
The global enzyme replacement therapy market size is expected to reach USD 12.13 billion by 2026, expanding at a CAGR of 7.7% during the forecast period, according to a new report by Radiant Insights, Inc As per the Genetic and Rare Diseases Information Center or GARD, a rare disease is defined as a condition that affects lesser than 200,000 individuals. These disorders are also called orphan diseases due to the lack of support exhibited by pharmaceutical companies previously. Since the passing of the Orphan Drug Act of 1983 in the U.S., several large pharmaceutical and biopharmaceutical companies have invested heavily in the development of orphan drugs. Thus, rising awareness, increasing R&D investment, growth in the number of lysosomal storage and genetic disorders, and easy drug approval process are factors propelling the market growth during the forecast period.
According to data from the National Institutes of Health, it is estimated that over 25 million Americans suffer from rare diseases. These facts are indicative of the fact that although the number of these ailments is low, individuals suffering from these are large. Some of the most common lysosomal storage disorders that make use of enzyme replacement therapy are Gaucher, Fabry, Pompe, MPS, SCID, and Shwachman-Diamond Syndrome among others.
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In the recent past, these disorders have been gaining significant attention, impacting growth positively. Various grants and acts are in place to accommodate drug makers to invest in the development of orphan drugs. Orphan Drug Designation Program, Rare Pediatric Disease Priority Review Voucher Program, Humanitarian Use Device (HUD) Program, and Orphan Products Clinical Trials Grants Program are programs that aid in the development of orphan drugs.
The rising use of enzyme replacement therapy in home care and infusion centers are gaining traction in the market. Specialized infusion centers such as these are anticipated to witness the highest CAGR during the forecast period. Hospitals held the largest segmental share owing to easy accessibility and ability to treat a wide range of ailments.
Further key findings from the report suggest:
• The high prevalence of Gaucher disease is attributable to the Imiglucerase segment gaining the highest CAGR during the forecast period.
• MPS I is anticipated to gain the highest share in the near future owing to rising prevalence and increasing cognizance about lysosomal storage diseases.
• The North America region is leading the regional sector and expected to dominate the market during the forecast period owing to the existence of a large number of major players and a high incidence of lysosomal storage diseases.
• The Asia Pacific region is expected to grow at the highest growth rate during the forecast period. High population bases teamed with the rising incidence of genetically acquired diseases such as Gaucher and Fabry are major factors attributing to regional growth.
• Some of the major players include in the enzyme replacement therapy market are Shire plc; Sanofi; Biomarin Therapeutics; AbbVie; Alexion; Allergan; Horizon Therapeutics; Actelion; Recordati Rare Diseases; and Protalix Biotherapeutics among others.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/enzyme-replacement-therapy-market
Table of Contents
Chapter 1 Methodology and Scope
1.1 Market segmentation & scope
1.2 Market definition
1.3 Information procurement
1.4 Purchased database
1.5 GVR's internal database
1.6 Secondary sources & third party perspectives
1.7 Primary research
1.8 Information analysis
1.9 Data analysis models
1.10 Market formulation & data visualization
1.11 Data validation & publishing
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Continued ………
Browse More Related Reports of Pharmaceutical Industry: https://www.radiantinsights.com/catalog/pharmaceutical
About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
According to data from the National Institutes of Health, it is estimated that over 25 million Americans suffer from rare diseases. These facts are indicative of the fact that although the number of these ailments is low, individuals suffering from these are large. Some of the most common lysosomal storage disorders that make use of enzyme replacement therapy are Gaucher, Fabry, Pompe, MPS, SCID, and Shwachman-Diamond Syndrome among others.
Request a Sample Copy of This Report: https://www.radiantinsights.com/research/enzyme-replacement-therapy-market/request-sample
In the recent past, these disorders have been gaining significant attention, impacting growth positively. Various grants and acts are in place to accommodate drug makers to invest in the development of orphan drugs. Orphan Drug Designation Program, Rare Pediatric Disease Priority Review Voucher Program, Humanitarian Use Device (HUD) Program, and Orphan Products Clinical Trials Grants Program are programs that aid in the development of orphan drugs.
The rising use of enzyme replacement therapy in home care and infusion centers are gaining traction in the market. Specialized infusion centers such as these are anticipated to witness the highest CAGR during the forecast period. Hospitals held the largest segmental share owing to easy accessibility and ability to treat a wide range of ailments.
Further key findings from the report suggest:
• The high prevalence of Gaucher disease is attributable to the Imiglucerase segment gaining the highest CAGR during the forecast period.
• MPS I is anticipated to gain the highest share in the near future owing to rising prevalence and increasing cognizance about lysosomal storage diseases.
• The North America region is leading the regional sector and expected to dominate the market during the forecast period owing to the existence of a large number of major players and a high incidence of lysosomal storage diseases.
• The Asia Pacific region is expected to grow at the highest growth rate during the forecast period. High population bases teamed with the rising incidence of genetically acquired diseases such as Gaucher and Fabry are major factors attributing to regional growth.
• Some of the major players include in the enzyme replacement therapy market are Shire plc; Sanofi; Biomarin Therapeutics; AbbVie; Alexion; Allergan; Horizon Therapeutics; Actelion; Recordati Rare Diseases; and Protalix Biotherapeutics among others.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/enzyme-replacement-therapy-market
Table of Contents
Chapter 1 Methodology and Scope
1.1 Market segmentation & scope
1.2 Market definition
1.3 Information procurement
1.4 Purchased database
1.5 GVR's internal database
1.6 Secondary sources & third party perspectives
1.7 Primary research
1.8 Information analysis
1.9 Data analysis models
1.10 Market formulation & data visualization
1.11 Data validation & publishing
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Continued ………
Browse More Related Reports of Pharmaceutical Industry: https://www.radiantinsights.com/catalog/pharmaceutical
About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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