During the forecast period of 2023-2033, the global enzyme replacement therapy market is expected to reach an estimated value of ~USD 14 billion by 2033, by expanding at a CAGR of ~7%. The market further generated a revenue of ~USD 10 billion in the year 2022. Major key factors propelling the growth of enzyme replacement therapy market worldwide are the growing cases of lysosomal storage diseases and rise in medicare spending.
In medicine, enzyme replacement therapy consists of replacing an enzyme that has been deficient or lacking in the body with another enzyme and consists of using enzymes or proteins with enzymatic properties to treat congenital enzyme deficiencies. There are several diseases that may be treated with this therapy, such as Fabry disease, Pompe disease, Guyton disease, and Tay-Sachs disease. In view of the increasing prevalence of such diseases, including genetic disorders, the need for effective treatment options is increasing. In most cases, an intravenous (IV) infusion of an enzyme solution is administered, in which a controlled drip of fluid is used to administer the replacement enzyme into the bloodstream.
The growth of the global enzyme replacement therapy market can majorly be attributed to the technological advancements in healthcare coupled with an increase in government expenditures on healthcare. It was observed that healthcare expenditures in the United States exceeded USD 3 trillion in 2020. On the other hand, the market growth can also be attributed to a wide range of innovative products and medications launched by leading players in the market.
The global enzyme replacement therapy market is also estimated to grow majorly on account of the following:
- Developing healthcare Infrastructure
- Growing genetic disorders
- An increasing global population
- Rise in the number of patients
- Increasing incidences of rare diseases among the population
In light of the availability of alternative therapies, such as chaperone therapies, in which pharmacological chaperones are able to cross the blood-brain barrier to treat patients effectively, other therapies tend to be more prevalent than ERT. Hence this factor is expected to be the major hindrance for the growth of the global enzyme replacement therapy market during the forecast period.
Global Enzyme Replacement Therapy Market Segmentation
The agalsidase beta segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the increasing number of people suffering from chronic diseases worldwide. For instance, a projected increase of around 45 million Americans with chronic diseases is expected between 2000 and 2030. Furthermore, the rising number of people suffering from Fabry disease is anticipated to drive the segment growth over the forecast period. Algalsidase beta consists of genetically modified human alpha-galactosidase, intended for treating Fabry disease, which is caused by genetic deficiencies in the enzyme.
The Asia Pacific enzyme replacement therapy market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions on account of the increasing prevalence of rare disorders among the patient population. According to the Economist Intelligence Unit, Asia and the Pacific region is home to 258 million individuals suffering from rare diseases. Moreover, improving healthcare infrastructure, favorable reimbursement policies, the availability of infusion centers being expanded, an increase in the adoption of new treatments, presence of enzyme deficiency among population in the region are expected to drive the market in the region over the forecast period.
The market research report on global enzyme replacement therapy also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Some of the key players of the global enzyme replacement therapy market are BioMarin, Leadiant Biosciences, Inc., Pfizer Inc., Sanofi, AbbVie Inc., Takeda Pharmaceutical Company Limited, JCR Pharmaceutical Co., Ltd., AstraZeneca, Clinigen Limited, Teijin Limited, and others.
The latest trending report Global Enzyme Replacement Therapy Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The Enzyme Replacement Therapy market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.This report also researches and evaluates the impact of Covid-19 outbreak on the Enzyme Replacement Therapy industry, involving potential opportunity and challenges, drivers and risks.
We present the impact assessment of Covid-19 effects on Enzyme Replacement Therapy and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/29810-enzyme-replacement-therapy-market-analysis-reportThe major players covered in Enzyme Replacement Therapy are:SanofiJohnson & JohnsonAbbVieTakedaHorizon PharmaBioMarinRecordati Rare DiseasesAllerganAlexionActelionPfizerDigestive CareLeadiant BiosciencesBy Type, Enzyme Replacement Therapy market has been segmented intoInjectable AgentsOral AgentsBy Application, Enzyme Replacement Therapy has been segmented into:Gaucher DiseaseFabry DiseaseMPS DiseaseGastrointestinal DiseaseOthersThe report offers in-depth assessment of the growth and other aspects of the Enzyme Replacement Therapy market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, etc.
)Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Enzyme Replacement Therapy Market @ https://www.decisiondatabases.com/contact/download-sample-29810The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Enzyme Replacement Therapy product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Enzyme Replacement Therapy, with price, sales, revenue and global market share of Enzyme Replacement Therapy in 2018 and 2019.Chapter 3, the Enzyme Replacement Therapy competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Enzyme Replacement Therapy breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Enzyme Replacement Therapy market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Enzyme Replacement Therapy sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Enzyme Replacement Therapy Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-29810Other Reports by DecisionDatabases.com:Global Negative Pressure Wound Therapy Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Hormone Replacement Therapy Market 2020 by Company, Regions, Type and Application, Forecast to 2025Global Oncolytic Virus Therapy Market 2020 by Company, Regions, Type and Application, Forecast to 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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Enzyme replacement therapy market is a medical therapy used for treatment of congenital enzyme deficiencies by using human and animal or recombinant engineered enzymes.
Intravenous and oral routes of administration are often used for ERT.
Enzyme replacement therapies are applied in some lysosomal storage diseases such as Gaucher disease, Pompe disease, Hurler syndrome among others.The prevalence rate of lysosomal storage diseases is approximately 5000 live births that include Gaucher disease and Hurler syndrome and others.
The prevalence of rare diseases in the United States is estimated to be 25-30 million population.
Enzyme replacement therapies and anticipated in treatment of these diseases.Enzyme replacement therapy market is rising gradually with a healthy CAGR of 11.05% in the forecast period of 2019-2026.
Participation of many pharmaceutical companies in development of enzyme replacement therapies and governmental support for research and development are some factors that bring healthy opportunities for the market growth.This Enzyme Replacement Therapy Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
Enzyme Replacement Therapy Market is a medical therapy used for treatment of congenital enzyme deficiencies by using human and animal or recombinant engineered enzymes.
Intravenous and oral routes of administration are often used for ERT.
Enzyme replacement therapies are applied in some lysosomal storage diseases such as Gaucher disease, Pompe disease, Hurler syndrome among others.Global enzyme replacement therapy market is rising gradually with a healthy CAGR of 11.05% in the forecast period of 2019-2026.
Participation of many pharmaceutical companies in development of enzyme replacement therapies and governmental support for research and development are some factors that bring healthy opportunities for the market growth.
Get Sample Report at : https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-enzyme-replacement-therapy-marketCompetitive Analysis: Global Enzyme Replacement Therapy MarketFew of the major competitors currently working in the global enzyme replacement therapy market are CANbridge Life Sciences Ltd., Leadiant Biosciences, Inc., Takeda Pharmaceutical Company Limited, Perseo Pharma AG, Sanofi, TEIJIN LIMITED, Avid Bioservices, Inc., SmartPharm Therapeutics, GREEN CROSS CORP, Pfizer Inc., GlaxoSmithKline plc., BioMarin, ALLERGAN, Alexion Pharmaceuticals, Inc., Horizon Therapeutics plc, Actelion Pharmaceuticals Ltd, Protalix Biotherapeutics, AbbVie Inc., Johnson & Johnson Services, Inc., Digestive Care, Inc. among others.
Key Pointers Covered in the Global Enzyme Replacement Therapy Market Trends and Forecast to 2026Global Enzyme Replacement Therapy Market New Sales VolumesGlobal Enzyme Replacement Therapy Market Replacement Sales VolumesGlobal Enzyme Replacement Therapy Market Installed BaseGlobal Enzyme Replacement Therapy Market By BrandsGlobal Enzyme Replacement Therapy Market SizeGlobal Enzyme Replacement Therapy Market Procedure VolumesGlobal Enzyme Replacement Therapy Market Product Price AnalysisGlobal Enzyme Replacement Therapy Market Healthcare OutcomesGlobal Enzyme Replacement Therapy Market Cost of Care AnalysisGlobal Enzyme Replacement Therapy Market Regulatory Framework and ChangesGlobal Enzyme Replacement Therapy Market Prices and Reimbursement AnalysisGlobal Enzyme Replacement Therapy Market Shares in Different RegionsRecent Developments for Global Enzyme Replacement Therapy Market CompetitorsGlobal Enzyme Replacement Therapy Market Upcoming ApplicationsGlobal Enzyme Replacement Therapy Market Innovators StudyGet Detailed TOC:https://www.databridgemarketresearch.com/toc/?dbmr=global-enzyme-replacement-therapy-market Key Developments in the Market:In July 2019, CANbridge Life Sciences Ltd. submitted a New Drug Application (NDA) for Hunterase (idursulfase beta), an IDS enzyme replacement therapy used for treatment of patients with Hunter syndrome.
