Fabry Disease Treatment Market is Estimated to Witness High Growth Owing to Rising Awareness Campaigns | Coherent Market Insights

The Fabry Disease Treatment Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Fabry disease is a rare inherited disorder caused by deficiency of an enzyme called alpha-galactosidase A. This enzyme is responsible for breaking down a fatty substance called globotriaosylceramide (Gb3) that builds up inside the body's cells. Products available in the market aims to treat and manage symptoms of Fabry disease.

Market Dynamics:

Rising awareness campaigns related to Fabry disease and its treatment options by government and non-profit organizations are expected to drive the market growth during the forecast period. For instance, the Fabry Support & Information Group conducts various awareness programs and educational events to educate people about Fabry disease. In addition, increasing research and development activities by key players for developing novel treatment therapies will also boost the market growth. For example, Takeda Pharmaceuticals is conducting phase 3 clinical trial to evaluate safety and efficacy of pegunigalsidase alfa (PRX-102), an investigational enzyme replacement therapy for Fabry disease.

Fabry Disease Treatment Market Key Players

Key players operating in global Fabry disease treatment market include: Amicus Therapeutics Inc., Sanofi Genzyme (Sanofi S.A. company), Idorsia Pharmaceuticals Ltd., Protalix BioTherapeutics, Inc., AvroBio Inc., JCR Pharmaceuticals Co., Ltd., Resverlogix Corp, and Ozmosis Research Inc.

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Introduction for Fabry Disease Treatment Market

Increasing prevalence of Fabry disease driving the market growth

The number of patients suffering from Fabry disease has been increasing significantly over the years. As per statistics, around 1 in every 40,000 to 60,000 people is affected by this rare genetic disorder. This high prevalence of the disease is a major driver of growth in the Fabry disease treatment market. The increasing awareness about early diagnosis and availability of treatment options is also contributing to the increased cases being reported.

Rise in R&D activities for development of novel treatment options

Major market players and research institutes have been investing heavily in R&D initiatives focused on developing more effective and novel treatment solutions for Fabry disease. Several clinical trials are being conducted to evaluate drug candidates for improved therapeutic efficacy and tolerability. The promising drug candidates in pipeline are expected to drive significant growth in the market upon receiving regulatory approvals.

Costly treatment posing a major challenge

The available treatment options such as enzyme replacement therapy are highly expensive, posing affordability issues for many patients. The cost of ERT for Fabry disease can exceed $200,000 per year. Many developing nations still lack adequate health insurance coverage for such specialized treatments. High costs associated with long-term management of the condition is a major restraint to wider adoption of treatment in these regions.

Increasing awareness about early diagnosis presents significant opportunity

Even though Fabry disease is rare, efforts towards enhancing awareness among public as well as healthcare providers can help in early diagnosis and timely intervention. Several advocacy groups and foundations are engaged in educating people about signs & symptoms of the condition. If undiagnosed, it can lead to severe complications. Increased awareness can help in detecting more patients eligible for treatment intervention, thereby representing a lucrative opportunity for players in this market.

Rise in collaborations and partnerships among key stakeholders

To enhance research as well as expand treatment access, market players are increasingly engaging in strategic collaborations and partnerships. For instance, Amicus Therapeutics has collaborated with Protalix Biotherapeutics for developing a next-generation ERT candidate for Fabry disease. Similarly, Avrobio has partnered with bluebird bio to evaluate a gene therapy approach. Such collaboration activities indicate growing focus on innovation and wider reach, presenting an emerging trend in the Fabry disease treatment market.

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