Enzyme Replacement Therapy Market is Predicted to Expand at a CAGR of 6.7% by The End of 2028
According to the latest research published by Future Market Insights, the global enzyme replacement therapy market is poised to expand at 6.7% CAGR over the forecast period 2022–2028.
The global market for enzyme replacement therapy is expected to exceed US$ 13.8 Bn by the end of 2028, attesting the highest growth rate by Japan, which is expected to expand at 12.5% CAGR over 2022–2028.
Increasing per capita healthcare expenditure in North America is expected to push market revenue growth.
The rapidly developing healthcare infrastructure and increasing awareness programmes in the highly populous regions of Asia Pacific and China is expected to play an important role in driving revenue growth of the global enzyme replacement therapy market.
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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.
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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.
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 2022 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.Key Segments of Enzyme Replacement Therapy Industry SurveyEnzyme Replacement Therapy Market by Therapeutic Condition:
- Enzyme Replacement Therapy for Fabry Disease
- Enzyme Replacement Therapy for Gaucher Disease
- Enzyme Replacement Therapy for Mucopolysaccharidosis
- MPS I
- MPS II (Hunter Syndrome)
- MPS IVA (Morquio Syndrome, Type A)
- MPS VI (Maroteaux-Lamy Syndrome)
- MPS VII (Sly Syndrome)
- Enzyme Replacement Therapy for Pompe Disease
- Enzyme Replacement Therapy for Lysosomal Acid Lipase Deficiency
Enzyme Replacement Therapy Market by Route of Administration:
- Oral Enzyme Replacement Therapy
- Injectable Enzyme Replacement Therapy
Enzyme Replacement Therapy Market by Distribution Channel:
- Hospital Pharmacies
- Specialty Treatment Pharmacies
- Retail Pharmacies
Enzyme Replacement Therapy Market by Region:
- North America Enzyme Replacement Therapy Market
- Latin America Enzyme Replacement Therapy Market
- Europe Enzyme Replacement Therapy Market
- East Asia Enzyme Replacement Therapy Market
- South Asia & Pacific Enzyme Replacement Therapy Market
- Middle East & Africa (MEA) Enzyme Replacement Therapy Market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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