Mucopolysaccharidosis (MPS) Treatment Market Business still promises 9.8% CAGR by 2027 – Coherent Market Insights
SEATTLE, April 29, 2021, (PHARMIWEB) — Global Mucopolysaccharidosis (MPS) Treatment Market Analysis
Impact of Coronavirus (Covid-19) Pandemic
The most recent outbreak of SARS-CoV-2 virus was first reported in Wuhan City of China on December 31, 2019. On March 11, 2020, the World Health Organization (WHO) had declared COVID-19 virus as a global pandemic.
As per the World Health Organization’s Coronavirus Disease (COVID-19) Weekly Epidemiological Update, a total of 27 million infections added with 900,000 deaths as a result of COVID-19 were recorded as of September, 2020 worldwide.
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COVID-19 pandemic has majorly impacted the economy in three different ways; with its direct effect on manufacture and demand by creating disturbances in the supply chain, with its financial influence on the financial markets and firms. Following the national lockdowns, various countries such as Saudi Arabia, UAE, and Egypt have been facing issues associated with drug transportation among these countries. These factor are expected to hinder growth of the global mucopolysaccharidosis (MPS) treatment market over the forecast period.
A group of conditions that are inherited in body and due to which the body is not able to breakdown the long sugar molecules chain called mucopolysaccharides that are found in the human body. This condition is known as mucopolysaccharidoisis. It leads to sugar formation in blood, connective tissues, and cells, which results in various health issues. Mucopolysaccharidosis has about seven forms of conditions. Gernally, majority of affected patients appear to be healthy during birth and witness an interval of common development, and later experience a decrease in their mental and/or physical functioning. With the progress of this condition, it can influence physical abilities, system and organ functioning, appearance, with cognitive development in several cases. The genetic factor underlying may vary in different forms as several cases are inherited in an autosomal recessive way, however a specific form of Type II sticks to inheritance pattern of X-link. Treatment of this condition depends on the symptoms and signs occurring in every patient.
The global mucopolysaccharidosis (MPS) treatment market is expected to manifest a CAGR of 9.8% during the forecast period of 2020-2027 and is expected to have a market valuation of US$ 1,566.5 million in 2020.
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Rising approvals of products for improving results of treatment by regulatory authorities is expected to boost growth of the global mucopolysaccharidosis (MPS) treatment market during the forecast period.
The focus of major companies contributing in the market on getting their advanced therapeutics approved, is expected to propel growth of the global mucopolysaccharidosis (MPS) treatment market during the forecast period. In June 2019, National Medical Products Administration (NMPA) had approved Vimizim (elosulfase alfa) which was developed by Biomarine Pharmaceuticals Inc., for diagnosing the patients with mucopolysaccharidosis type IVA (MPS IVA), called as Morquio A syndrome. In China, Vimizim is the only treatment for this given condition which has been approved.
Major companies adopting various inorganic strategies is expected to boost growth of the global mucopolysaccharidosis (MPS) treatment market during the forecast period.
The focus of key companies on adoption of various inorganic strategies such as mergers and acquisitions to reinforce their market positioning in the global mucopolysaccharidosis (MPS) treatment market. In May 2018, an aspect fill and finish services company, Rentschler Fill Solutions and a contract manufacturing organization (CMO), Ultragenyx Pharmaceutical Inc., had partnered to produce an injectable Mepsevii (vestronidase alfa), which a human enzyme beta-glucuronidase in recombinant form, for treatment of patients with a rare genetic disorder condition, MPS VII.
- According to the End User: Specialty Clinics, Hospitals, Others.
- According to the treatment: Enzyme Replacement Therapy, Stem Cell Therapy.
- According to the type of MPS: MPS-I, MPS-VI, MPS-VII, MPS-II, MPS-IV, Others (MPS-III and MPS-IX).
Poor treatment facilities along with high therapeutics costs are expected to limit growth of the global mucopolysaccharidosis (MPS) treatment market over the forecast period. One of the MPS treatment therapeutics, Vimizin (elosulfase alfa) is used for treatment of Morquio Syndrome (MPS IV) which was expected to cost around US$ 380,000 for yearly diagnosis at the time of its launch in the market. Owing to the high cost associated with it, this treatment cannot be afforded by patients of emerging economies such as India.
Additional hindering factor is the delay related to diagnosing of mucopolysaccharidosis. A study revealed in the Orphanet Journal of Rare Diseases in 2018, there was an occurrence of failure in diagnosing the mucopolysaccharidosis type III and mucopolysaccharidosis type I which are two ultra-orphan diseases.
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Key companies contributing in the global mucopolysaccharidosis (MPS) treatment market are Bioasis Technologies Inc., Sarepta Therapeutics, Abeona Therapeutics Inc., BioMarin Pharmaceuticals, Inc., Ultragenyx Pharmaceutical Inc., Eloxx Pharmaceuticals, RegenxBio Inc., Takeda Pharmaceutical Company Limited, Sangamo Therapeutics, Inc., Esteve, GC Pharma, JCR Pharmaceuticals Co Ltd., Paradigm Biopharmaceuticals Ltd., Immusoft Corporation, and Inventiva.About Us:
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