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Fabry Disease Treatment Market 2024 - By Size, Demand, Trends, Top Companies, Growth Drivers And Forecast 2033
Fabry Disease Treatment Market
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According to The Business Research Company's, The fabry disease treatment market size has grown strongly in recent years. It will grow from $1.92 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing awareness and diagnosis rates, increasing adoption of enzyme replacement therapies, increasing use of chaperone therapies, increasing healthcare infrastructure, rise in investment in rare disease research, increasing population, and increasing regulatory incentives for orphan drugs.
The fabry disease treatment market size is expected to see strong growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing prevalence of the disease, rising awareness and diagnosis rates, expanding healthcare infrastructure, growing investment in rare disease research, growing patient awareness, and expanding reimbursement policies. Major trends in the forecast period include advancements in gene therapy, advancements in enzyme replacement therapies, advancements in diagnostic techniques, advancements in novel therapies, and integration of digital health technologies for patient management.
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Market Drivers and Trends:
The increasing prevalence of renal diseases is expected to propel the growth of the fabry disease treatment market going forward. Renal diseases, also known as kidney diseases, refer to any conditions impairing the kidneys' function. The cases of renal diseases are growing due to genetic predispositions, lifestyle choices, environmental factors, and underlying health conditions. Fabry disease is caused by the accumulation of globotriaosylceramide (Gb3) in kidney cells, leading to damage and dysfunction, highlighting the critical need for early detection and intervention to prevent kidney complications. For instance, in December 2023, the Australian Bureau of Statistics, an Australian government agency, reported that 246,200 people (1.0% of the population) had kidney disease in 2022, representing a 0.2% increase over the past decade. Therefore, the increasing prevalence of renal diseases is driving the growth of the fabry disease treatment market.
Major companies operating in the Fabry disease treatment market are developing plant cell-based treatments to enhance therapeutic efficacy, reduce treatment costs, and improve patient outcomes through innovative and sustainable approaches. Plant cell-based treatment for fabry disease involves using plant cells to produce deficient enzymes in individuals with fabry disease. These plant-derived enzymes can be used as a therapeutic option to replace the missing or defective enzymes in the body, aiming to alleviate symptoms and improve the health of patients affected by Fabry disease. For instance, in May 2023, Chiesi Global Rare Diseases, an Italy-based pharmaceutical company, and Protalix BioTherapeutics Inc., an Israel-based pharmaceutical company, received approval for the ELFABRIO. ELFABRIO presents an alternative treatment choice for individuals with Fabry disease. It is an enzyme replacement therapy (ERT) where the recombinant human a-Galactosidase-A enzyme is produced in plant-cell culture and modified with PEGylation to extend its half-life significantly. This treatment reduces frequency, enhances convenience, and improves the overall management of Fabry disease symptoms, enhancing patient quality of life.
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Major Key Players of the Market:
Sanofi S.A., GSK plc, Takeda Pharmaceutical Company Limited, CHIESI Farmaceutici S.p.A., Ultragenyx Pharmaceutical Inc., Amicus Therapeutics Inc., JCR Pharmaceuticals Co. Ltd., Sangamo Therapeutics Inc., Idorsia Pharmaceuticals Ltd., Centogene N.V., Protalix BioTherapeutics, Avrobio Inc., ISU Abxis, Synageva BioPharma Corp., Greenovation Biotech GmbH, CANbridge Pharmaceuticals, Freeline, 4D Molecular Therapeutics, Abeona Therapeutics Inc., GC Biopharma Corporation
Fabry Disease Treatment Market 2024 Key Insights:
• The fabry disease treatment market size is expected to see strong growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
• Impact of Increasing Renal Disease Prevalence on the Fabry Disease Treatment Market
• Advancements in Plant Cell-Based Treatment for Fabry Disease
• North America was the largest region in the fabry disease treatment market in 2023
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