The 2023 report on the “Enzyme Replacement Therapy Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Enzyme Replacement Therapy Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. The “enzyme replacement therapy” refers to a medical procedure that uses human, animal, or recombinantly engineered enzymes to treat congenital enzyme deficiencies. The ERT core principle is the replacement of artificial enzyme in those with an enzyme deficiency. For ERT, the oral and intravenous methods of administration are widely utilized. The key factor driving the market growth is rising prevalence of rare diseases, availability of a wide range of enzyme replacement therapy and rising government initiatives for rare diseases. Thus, create the lucrative demand for the market during forecast period.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The presence of a large patient population suffering from rare lysosomal storage diseases creates high demand for effective treatments such as enzyme replacement therapy. The prevalence of several lysosomal storage disorders such Gaucher, Fabry, Pompe, and MPS is gradually rising on a global level.
For instance, according to data released by Cleveland Clinic, in 2020, 6,000 persons in the United States have Gaucher disease, with 95% of them having type 1 Gaucher. A gradual increase in the diagnosis rate of rare diseases is also a result of growing government efforts and non-profit organizations in various nations to raise public awareness. As a result, these key aspects, as well as advantageous reimbursement policies and government support for medical care in developed nations, are increasing the rate of this therapy’s adoption and, as a result, propelling the market’s expansion over the projection period. Also, rising public awareness about enzyme replacement therapies would create the lucrative opportunities for the market during forecast period. However, the high cost of Enzyme Replacement Therapy stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Enzyme Replacement Therapy Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the presence of key market players and well-developed healthcare infrastructure in the region. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as rising number of patients suffering from rare disorders and growing initiatives by other private organizations and the government for the awareness about this therapy would create lucrative growth prospects for the Enzyme Replacement Therapy market across Asia Pacific region.
Major market players included in this report are:
Abbvie Inc.
Astrazeneca Plc
Biomarin Pharmaceutical In
Chiesi Farmaceutici S.P.A.
Digestive Care, Inc.
Leadiant Biosciences, Inc.
Nestle Health Science
Pfizer Inc.
Sanofi S.A.
Takeda Pharmaceuticals
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Recent Developments in the Market:
In 2021, Takeda Pharmaceutical Co. Ltd. announced a partnership deal with JCR Pharmaceuticals Co., Ltd., intending to commercialise JR-141 outside the U.S. to treatment of hunter syndrome.
In 2021, Clinigen Group plc. announced the manufacturing and distribution approval for hunterase ICV throughout Japan to treat patients with Hunter syndrome.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Agalsidase Beta
Imiglucerase
Velaglucerase Alfa
Idursulfase
Galsulfase
Laronidase
Others
By Disease:
Gaucher Disease
Fabry Disease
Pompe Disease
Mucopolysaccharidosis
Exocrine Pancreatic Insufficiency (EPI)
Others
By End User:
Hospitals
Infusion Centers & Home Healthcare Setting
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Some of the Key Questions Answered in this Report:
Market dimension: What is the size of the market at the regional and country level?
Drivers, restraints, opportunities, and challenges: What are the key factors influencing the market and how are they expected to impact it?
International revenue, manufacturing value, consumption value, import and export: What is the economic value and trade dynamics of the market across different regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa)?
Key producers and their working state of affairs: Who are the leading manufacturers in the market industry and what is their current capacity, production, sales, pricing, costs, gross, and revenue?
Possibilities and threats for market carriers: What opportunities and challenges are faced by the vendors in the global market industry?
Incremental growth prospects for application/end-users and product types: Which specific applications or product types are expected to experience growth opportunities? What is the market share of each type and application?
Targeted strategies and constraints: What strategies are being implemented and what constraints are affecting the market?
Sales, marketing, and distribution channels: What are the different channels used for sales, marketing, and distribution in the global industry?
Upstream raw materials, production equipment, and manufacturing process: What are the raw materials, production equipment, and manufacturing processes involved in the market?
Key market trends: What are the significant trends impacting the growth of the market?
Economic impact and development trends: How does the market industry impact the economy, and what are the development trends within the market?
Overall, the report provides comprehensive insights into the market’s size, drivers, challenges, key players, opportunities, trends, and economic impact, offering a holistic understanding of the market industry.
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