Market Trends of Enzyme Replacement Therapy Industry
This section covers the major market trends shaping the Enzyme Replacement Therapy Market according to our research experts:
Agalsidase Alfa Segment is Expected to Hold a Major Market Share in the Enzyme Replacement Therapy Market
Fabry is an X-linked rare disease that comes in the group of lysosomal storage disorders. Algasidase Alfa is a recombinant formulation of human a-galactosidase (AGAL), which is being used for the treatment of Fabry disease. Currently, this enzyme is manufactured by the Shire, a subsidiary of Takeda Pharmaceutical Company, with the brand name Replagal. To date, Replagal has received approval for marketing and production in Canda, the United Kingdom, and other parts of Europe.
Furthermore, according to the study published in JIMD, in 2019, Fabry disease is more prevalent in the population, which has been undergoing dialysis. Approximately 1.2% of the dialysis population has been reported with Fabry disease worldwide. Hence, the high prevalence of Fabry disease emerges the need for treatment, which is expected to boost up the enzyme replacement therapy market in the algasidase alfa segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America expected to hold a major market share in the global artificial disc market owing to initiatives taken by the government and other organizations related to rare diseases and its treatment. For instance, the National Institutes of Health awarded approximately USD 31 million in grants during 2019 to the 20 teams, including five new groups of scientists, clinicians, patients, families, and patients, to study a wide range of rare diseases. Additional USD 7 million has been provided to the data coordinating centers to support the research efforts. Furthermore, the National Center for Advancing Translational Sciences (NCATS), one of the centers of the National Institute of Health is solely dedicated to the treatment of patients with rare diseases. Also, the higher prevalence of rare diseases is expected to propel the enzyme replacement therapy in North America. According to the Genetic and Rare Diseases Information Center (GARD), at present, there are around 25 to 35 million people in the United States that suffer from rare diseases.
