Global Enzyme Replacement Therapy Market is poised to expand at 6.5% CAGR
Global Enzyme Replacement Therapy Market: Segmentation & Forecast
The global enzyme replacement therapy market has been segmented on the basis of therapeutic condition, route of administration, distribution channel and region. Therapeutic conditions in the enzyme replacement therapy market include fabry disease, gaucher disease, mucopolysaccharidosis, pompe disease, lysosomal acid lipase deficiency and others. Globally, the mucopolysaccharidosis therapeutic condition is the most attractive segment. Injectable segment remains the most lucrative route of administration in the enzyme replacement therapy market. Among all distribution channels for enzyme replacement therapy, speciality treatment pharmacies are expected to be the most lucrative, followed by hospital pharmacies.
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Global Enzyme Replacement Therapy Market: Regional Insights
With nearly 25%-30% market share, North America dominated the global enzyme replacement therapy market in 2017, partly due to the presence of leading market players in the region. In developing regions such as Latin America, advancements in medical facilities are helping the region cope with healthcare crisis. Medical facilities in Brazil are equivalent with hospitals in the United States, with some even exceeding American standards. Brazil offers everything from large, full service hospitals to smaller, intimate private clinics. Brazil has developed into a centre of excellence for healthcare in Latin America, with major universities that support research, teaching and training of medical professionals. Western Europe is the second largest market globally and is expected to be valued at US$ 2,893.2 Mn by 2028, with France, Italy and Spain projected to witness significant growth rates. Japan is expected to be the third largest market for enzyme replacement therapy.
Key Research Findings
Enzyme replacement therapy is used in the treatment of rare diseases and the global market is projected to create incremental opportunity of US$ 6,448.3 Mn between 2018 and 2028
When compared to other established markets such as North America, the enzyme replacement therapy markets in Japan and Western Europe are expected to witness fast and steady growth, partly due to the increasing governmental support and growing demand for enzyme replacement therapy for the treatment of rare diseases.
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Global Enzyme Replacement Therapy Market: Competitive Landscape
The global market is highly consolidated owing to the presence of several players. Some of the key players are Sanofi (Genzyme Corporation), Shire, Pfizer, Inc., Alexion Pharmaceuticals, Inc., BioMarin Pharmaceutical, Inc., Ultragenyx Pharmaceutical, Inc., Johnson & Johnson Services, Inc., Allergan, Leadiant Biosciences, Inc., and others. Companies in the global ERT market are focussing on strategic initiatives such as alliances and agreements, collaborations, increasing R&D activities, new product launches, joint ventures, partnerships, and mergers & acquisitions to sustain in the competitive global market.
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