Global Enzyme Replacement Therapy Market: Strong Pipeline to Rapidly Surge Growth
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Enzyme Replacement Therapy Market Size (2022) |
US$ 9.3 Bn |
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Revenue Estimation (2028) |
US$ 13.8 Bn |
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Global Market Growth Rate (2022-2028) |
6.7% CAGR |
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North America Market Share |
28.6% |
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Revenue from enzyme replacement therapy (ERT) accounts for
around 63% share of the global hormone replacement market.
Increasing prevalence of rare diseases has majorly led to the deployment of
enzyme replacement therapies, and medical research is expected to further
advance these developments.
Enzyme Replacement Therapy Demand Analysis
(2013 to 2021) Vs Market Predictions (2022 to 2028)
The enzyme replacement therapy market is expected to
flourish over the coming years as instances of rare and unknown diseases
increase on a global scale. There has been a surge in the emergence of rare and
ultra-rare diseases over the past few years, and this trend is not expected to
slow down anytime soon. The need for orphan disease management and orphan drugs
has seen a substantial increase as rare diseases have become more frequent.
Enzyme replacement therapy demand increased at a CAGR
of 6.4% from 2013 to 2021 and ended up with a value of US$
8.8 Bn in 2021. Increasing instances of rare diseases that require
unique treatment approaches, rising availability of enzyme replacement
therapies, increasing awareness, and less tough regulations for rare disease
treatment are primarily driving demand for ERT.
Increasing medical research and rising awareness about
enzyme replacement therapies are expected to be common factors propelling ERT
market growth across the world.
All in all, the global enzyme replacement therapy market is
predicted to progress at a CAGR of 6.7% from 2022 to 2028.
Enzyme Replacement Therapy Industry Report
Scope
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Attribute |
Details |
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Forecast Period |
2022-2028 |
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Historical Data Available for |
2013-2021 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Which Region is Most Lucrative for Enzyme
Replacement Therapy Providers?
This enzyme replacement therapy industry survey by FMI
covers market statistics on a global scale, and especially gives metrics
specific to regions such as North America, Latin America, Europe, East Asia,
South Asia & Pacific, and the Middle East & Africa (MEA).
Leading the global market landscape, the North America
enzyme replacement therapy market holds a dominant market share of 28.6% in
2022.
This region is expected to be one of the most lucrative
markets for enzyme replacement treatment, and ERT demand is expected to be
driven by rising healthcare expenditure in the region. The U.S. is expected to
lead the North American enzyme replacement therapy industry.
Following closely is the Western Europe enzyme replacement
therapy market. The region, over the past few years, has experienced tremendous
increase in rare disease instances, and this has influentially shaped the
enzyme replacement therapy demand growth.
For instance, Germany and the U.K. have a high incidence of
Fabry’s disease and other rare diseases as well that drives demand for enzyme
replacement therapy.
East Asia, South Asia, and the Pacific regions are expected
to exhibit lucrative opportunities for enzyme replacement therapy providers
over the coming years.
Rising disposable income, developing healthcare systems,
increasing awareness are major factors influencing the enzyme replacement
therapy market potential in these regions. Japan, India, and China are expected
to be leading nations in these regions.
Demand for enzyme replacement treatment in MEA is
anticipated to rise at a steady pace over the forecast period; the region
currently holds around 3% of the global market share.
Get More Details@ https://www.futuremarketinsights.com/reports/enzyme-replacement-therapy-market
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