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Enzyme replacement therapy Market Expected to reach $15,166.34 Million by 2030

 

Report Code : A10949

quote “Increase in number of patients suffering from rare diseases and the initiatives taken by government for creating awareness among individuals regarding the treatment of the rare diseases are the major driving force of the global enzyme replacement therapy market.” quote

Sanjivan Gill
Research Analyst, Healthcare at Allied Market Research

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According to a new report published by Allied Market Research, titled, “enzyme Replacement Therapy Market by Product, Disease, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the enzyme replacement therapy market size was valued at $7,780.69 million in 2020, and is projected to reach $15,166.34  million by 2030, registering a CAGR of 8.3% from 2021 to 2030.

Enzyme is a biomolecule that performs catalytic functions in various metabolic processes that occur in the body. Various types of enzymes are synthesized for different functions. Lack of production of enzyme can cause metabolic disorders that lead to serious illness. For instance, lysosomal storage disease (LSD) occurs due to deficiency of enzymes in the body and leads to malfunction of body organs. Lysosomal storage diseases are inherited metabolic diseases that are characterized by an abnormal build-up of various toxic materials in the body’s cells as a result of enzyme deficiencies. Nearly 50 of these disorders are prevalent altogether, which may affect different parts of the body, including the skeleton, brain, skin, heart, and central nervous system.

The global enzyme replacement therapy market has witnessed significant growth in the recent years, owing to alarming increase in prevalence of chronic diseases and life-threatening lysosomal storage diseases such as Gaucher, Pompe, Fabry, and scid. According to the National Organization for rare disorders (NORD), lysosomal storage diseases are believed to have an estimated frequency of about 1 in every 5,000 live births. Although individual diseases are rare, the group together affects many people around the world. Some of the diseases have a higher incidence in certain population. Hence, to combat such chronic disorders, enzyme replacement therapies are widely used for critical patients.

Alternatively, high cost associated with the enzyme infusion, reimbursement challenges, and side effects associated with enzyme infusion are the key factors responsible for hampering the market growth. The global enzyme replacement therapy market is segmented into product, disease type, end user, and region. Depending on product, the market is fragmented into agalsidase beta, imiglucerase, velaglucerase alfa, idursulfase, galsulfase, laronidase, and others.

The global enzyme replacement therapy market is segmented into product, disease, end user, and region. Depending on product, the market is categorized into agalsidase beta, imiglucerase, velaglucerase alfa, idursulfase, galsulfase, laronidase, and others. By disease type, it is segregated into Gaucher disease, Fabry disease, Pompe disease, mucopolysaccharidosis, exocrine pancreatic insufficiency (epi), and others. On the basis of end user, it is fragmented into hospitals and infusion centers & home healthcare setting. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The others segment dominated the global enzyme replacement therapy market in 2020, and is expected to continue this trend during the upcoming years.

This is majorly attributed to increase in prevalence of chronic and life-threatening lysosomal storage diseases such as Fabry, mucopolysaccharidosis, and other rare lysosomal storage disorders.

In 2020, the mucopolysaccharidosis segment led the global enzyme replacement therapy market , owing to increase in incidence of rare diseases. 

North America was the highest revenue generator in 2020, due to widespread availability of infusion centers, increase in acceptance of newer therapies, and rise in prevalence of enzyme deficiency in the region.

This report provides comprehensive competitive analysis and profiles of prominent market players such as Abbvie Inc., Astrazeneca Plc, Biomarin Pharmaceutical Inc.Chiesi Farmaceutici S.P.A, Digestive Care, Inc., Leadiant Biosciences, Inc., Nestle Health Science, Pfizer, Inc., Sanofi, and Takeda Pharmaceuticals.

Key Findings Of The Study

  • By product type, the agalsidase beta segment held the largest market share in 2020, and is expected to remain dominant during the forecast period.
  • Depending on disease type, the mucopolysaccharidosis segment was the major share contributor in 2020, and is expected to continue the trend during the forecast period.
  • On the basis of end user, the hospitals segment exhibited the highest growth in 2020, and is expected to lead during the forecast period.
  • North America is expected to experience market growth at the highest rate, registering a CAGR of 7.0% during the forecast period.

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quote Enzyme Replacement Therapy Market by Product (Agalsidase Beta, Imiglucerase, Velaglucerase Alfa, Idursulfase, Galsulfase, Laronidase, and Others), Disease (Gaucher Disease, Fabry Disease, Pompe Disease, Mucopolysaccharidosis, Exocrine Pancreatic Insufficiency (EPI), and Others), and End User (Hospitals and Infusion Centers & Home Healthcare Setting): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

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