Global Enzyme Replacement Therapy Market Analysis- Ken Research
Enzymes are molecules perform catalytic functions in different biochemical reactions which occur in the body. Lysosomal Storage Disease (LSD) occurs owing to deficiency of enzymes in body & leads to malfunction of body organs. The replacement of enzyme is a process of transferring of artificial enzymes in patients suffering from lack of enzymes. It is done when enzymes give the patient an intravenous (IV) infusion of a solution containing the enzyme. This therapy is carried out with administering intravenous infusion or with oral administration of enzyme-containing preparation. The use of enzyme replacement therapies is intended to boost the concentration of enzymes that are available for various diseases such as for instance hunter syndrome, digestive diseases, Fabry disease, and more gauche disease.
According to the study, “Global Enzyme Replacement Therapy Market 2019 by Company, Regions, Type and Application, Forecast to 2024” key companies currently operating in global enzyme replacement therapy market are Sanofi, BioMarin Pharmaceuticals Inc., Shire Plc., Alexion, AbbVie, Merck KGaA, Genzyme Corp., Horizon Pharma, Allergan, Sigma-Tau Pharmaceuticals Inc., Abbvie Inc., Essential Pharmaceuticals Ltd., Recordati Rare Diseases, Johnson & Johnson, Digestive Care, Actelion, Leadiant Biosciences, Pfizer Inc.
Based on enzyme type, global enzyme replacement therapy market is segmented into imiglucerase, taliglucerase, agalsidase beta, velaglucerase alfa, alglucosidase alfa, laronidase, galsulfase, pancreatic enzymes, idursulfase, pegademase, and others. Based on indication, market is segmented into gaucher disease, scheie syndrome, fabry disease, pompe disease, combined immunodeficiency disease digestion (SCID), hunter disease, and others (gastrointestinal disease and Mucopolysaccharidosis (MPS) disease). Gaucher disease enlarges with the lack of an enzyme called glucocerebrosidase. The enzyme aids to break down fatty ingredients in body. Based on route of administration, market is segmented into parenteral route and oral route. Moreover, based on end user, market is segmented as homecare settings, hospitals and infusion centers.
The global enzyme replacement therapy market is driven by rise in prevalence of rare diseases followed by increase in healthcare expenditure, growing in demand for ERT to improve the treatment of rare diseases, increase in government spending on healthcare infrastructure like favorable reimbursement for ERT and socioeconomic factors are expected to boost in prevalence of rare diseases. Apart from the benefits, few of restraint factors include a dearth of skilled healthcare professionals, followed by an increase in availability of alternative treatment options and lack of regulatory framework in emerging economics.
The North American region is estimated to register substantial share in global enzyme replacement therapy market due to the rise in prevalence of enzyme deficiency as well as an increase in acceptance of newer therapies in the region. In addition, drug availability, favorable reimbursement policies, and advanced healthcare infrastructure likely to drive the market in Europe and North America region. Asia Pacific region is also expected to register high CAGR during the projected period caused by raising awareness about enzyme replacement therapy and low cost of enzyme replacement therapies in the region. It is expected that market to reach the US $15,800 million, by 2024, growing at a CAGR of 13.4% between 2019 and 2024.
To Know More, Click On The Link Below:-
Global Lysosomal Acid Lipase Deficiency (LAAL) Treatment Market Study 2015-2025, by Segment (Enzyme Replacement Therapy, Kidney Transplantation, Stem Cell Transplantation), by Market (Wolman Disease, Cholesterol Ester Storage Disease (CESD)), by Company (AstraZeneca plc, Merck & Co., Inc, Pfizer, Inc.)
Ankur Gupta, Head Marketing & Communications