Dublin, Feb. 07, 2025 (GLOBE NEWSWIRE) -- The "Enzyme Replacement Therapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.
The Enzyme Replacement Therapy Market was valued at USD 9.95 Billion in 2024, and is expected to reach USD 15.44 Billion by 2030, rising at a CAGR of 7.80%.
Ongoing advancements in biotechnology, including genetic engineering and recombinant DNA technology, have led to the development of more effective and targeted ERTs, improving the quality of treatment. Many ERTs receive orphan drug designation, which provides incentives for pharmaceutical companies to develop treatments for rare diseases, including tax benefits and market exclusivity. This designation encourages investment in ERT research and development.
Pharmaceutical companies, academic institutions, and research organizations are continually investing in research and development for ERTs, leading to the development of innovative therapies and the expansion of the treatment landscape. Patient advocacy groups and organizations have played a crucial role in raising awareness about rare diseases and advocating for improved access to ERTs. Their efforts have driven demand and support for ERTs.
Based on Region, North America emerged as the dominant region in the Global Enzyme Replacement Therapy Market in 2024. North America, and the United States in particular, boasts a highly advanced healthcare infrastructure with state-of-the-art medical facilities, specialized treatment centers, and a well-established network of healthcare professionals. This infrastructure supports the development, distribution, and administration of ERTs. North America is home to many pharmaceutical companies, including those that have developed and marketed ERTs. These companies have the resources and expertise to conduct research and clinical trials, obtain regulatory approvals, and bring ERTs to market.
The United States has a well-defined regulatory framework, with the U.S. Food and Drug Administration (FDA) playing a central role in drug approvals. The FDA's guidelines and approval processes have made it conducive for pharmaceutical companies to develop and launch ERTs in the United States. Region has a relatively higher prevalence of rare genetic diseases, including hemophilia, lysosomal storage disorders, and other conditions that necessitate enzyme replacement therapy. This high disease prevalence drives the demand for ERTs in the region.
Key Market Drivers
- Advancements in Biotechnology
- Rise in Pipeline Development
- Strong Research and Development Initiatives
Key Market Challenges
- Limited Patient Pool
- Competition and Market Saturation
Key Market Trend
- Expanding Therapeutic Indications
Key Enzyme Replacement Therapy Players Profiled
- Takeda pharmaceutical Company Ltd.
- Leadiant Biosciences Inc.
- Biomarin Pharmaceuticals Inc.
- Genzyme Corporation
- Pfizer Inc.
- Shire plc
- Sigma-Tau Pharmaceuticals, Inc
- Essential Pharmaceuticals Limited
- Merck KGaA
- AbbVie Inc.
Report Scope
Enzyme Replacement Therapy Market, By Products:
- Galsulfase
- Velaglucerase Alfa
- Laronidase
- Asfotasealfa
- Others
Enzyme Replacement Therapy Market, By Diseases:
- Exocrine Pancreatic Insufficiency (EPI)
- Pompe Disease
- Scheie Syndrome
- Maroteaux-Lamy Syndrome
- Gaucher Disease
- Others
Enzyme Replacement Therapy Market, By Route of Administrations:
- Oral
- Parenteral
- Others
Enzyme Replacement Therapy Market, By End User:
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
Enzyme Replacement Therapy Market, By Region:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Key Attributes
| Report Attribute | Details |
| No. of Pages | 182 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $9.95 Billion |
| Forecasted Market Value (USD) by 2030 | $15.44 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/z6d2jw
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