Global Enzyme Replacement Therapy Market Expected to Reach USD 16,362.2 Million by 2027

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Global Enzyme Replacement Therapy Market Expected to Reach USD 16,362.2 Million by 2027

iCrowd Newswire
13 Jan 2021, 21:45 GMT+10

Global Enzyme Replacement Therapy Market Key Takeaways

According to a recent market study published by Growth Market Reports (GMR), titled, "Global Enzyme Replacement Therapy Market by Route of Administration, therapeutic condition and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 9,955.4 Million in 2019 and is expected to grow at a healthy growth rate of 6.8% by the year 2027. Increasing prevalence of chronic diseases, rising adoption of advanced technologies, and growing healthcare expenditure are the key factors driving the growth of the enzyme replacement therapy market. Side-effects associated with this therapy and the high cost of the therapy are hampering the growth of the market.

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The rising prevalence of rare diseases and increased healthcare expenditure are some of the factors, driving the demand for enzyme replacement therapy. Rising awareness and increasing the number of market players in the orphan disease management are driving the market. Increase in the government spending on healthcare infrastructure and favorable reimbursements for enzyme replacement therapy boost the demand for enzyme replacement therapy.

Based on regions, the global enzyme replacement therapy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is bifurcated into the US and Canada. Latin America is segregated into Brazil, Mexico, and Rest of Latin America. Asia Pacific is fragmented into China, Japan, South Korea, India, Australia, South East Asia (SEA) India, and Rest of Asia Pacific (APAC). Europe is categorized as the U.K., France, Italy, the U.K., Spain, Russia, and Rest of Europe. The Middle East & Africa is divided into Saudi Arabia, South Africa, the UAE, and Rest of MEA.

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As per GMR industry analyst Akshata Ahire, "The global enzyme replacement therapy market is anticipated to grow significantly during the forecast period, from 2020 to 2027. Enzyme replacement therapy is used for treating Aspartylglycosaminuria (AGU). AGU is a lysosomal disease, caused due to the deficiency of an enzyme known as aspartylglucosaminidase (AGA). The deficiency of AGA leads to the accumulation of the glycoasparagines in the cells. This results in the deformities of eyes and spine and leads to intellectual disability. Exogenous recombinant enzymes are used for the treatment of the diseases. Enzyme replacement therapy is used for treatment of Fabry disease. This disease is a genetic disorder, which prevents the formation of the enzyme alpha-galactosidase. Fabry disease is caused by the mutation of the galactosidase alpha (GLA) gene. The mutation of the genes affects the functioning of the enzymes, which causes life-threatening conditions. Enzyme replacement therapy is used for the treatment of several diseases including Hunter Syndrome, Aspartylglycosaminuria (AGU), and Gaucher disease. The diseases cannot be cured; however, intravenous infusions of the enzymes are given to balance levels of the enzymes. The treatment reduces the symptoms and improves the heath of the patients. These diseases are caused due to genetic disorders and can be transferred from parents to their children, if both the parents suffer from the ailment.

Key Takeaways from the Study:

North America accounts for a significant market share, followed by Europe. Asia Pacific is projected to expand at significant CAGR during the forecast period.

In terms of region, North America leads the global enzyme replacement therapy market.

The market in this region is projected to expand at a considerable CAGR during the forecast period. North America is a key region of the market due to increasing awareness among consumers and high potential.

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 9,955.4 Million

Market Growth Rate (from 2021 to 2027)

6.8%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 - 2027

Units Considered

Value (USD Million)

Market Segments

Route of Administration, Therapeutic Condition

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

US., Canada, Germany, France, Italy, U.K, Spain, Rest of Europe, China, Japan, South Korea, India, Australia, South East Asia (SEA), Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, UAE, Rest of MEA

Key Companies Profiled

Sanofi, AbbVie Inc, BioMarin, Takeda, Pharmaceuticals Company Ltd, Alexion, PROTALIX BIOTHERAPEUTICS INC., RECORDATI S.p.A, Allergan, Leadiant, Pfizer Inc. Horizon Therapeutics plc, and Biosciences, Ltd.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

Supply-side: Enzyme Replacement Therapy Manufacturers, Raw Material Suppliers, Primary Respondents, and Distributors

Demand Side: Hospitals and Clinics, Academic and Research Institute, Others

Regulatory Side: Commercial Research & Development (R&D) institutions, International, Ministry of Health, Labor and Welfare (MHLW), Food and Drugs Administration, Occupational, Safety and Health Administration (OSHA), American National Standards Institute(ANSI), and Organization for Rare Diseases in India (ORDI).

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About Us:Our reports are more than just research reports to us. They are tools that enable us to maintain long-term relationships with our clients whom we honor and cherish. Our client's business growth is integral for not only them but also us. This is what differentiates us from other market research companies.

At GMR, we provide our expertise and guideline for success. Our team of efficient and experienced researchers and consultants provide progressive market intelligence reports that are accurate, authentic, and in-depth. This empowers the clients to make well-informed decisions.

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