Enzyme Replacement Therapy Market Trends

Growth Drivers

• Growing Government Spending on Healthcare Infrastructure – Governments of different nations are focusing on expanding the healthcare sector to treat people and combating health issues. As a result of rising investment in healthcare infrastructure, the size of enzyme replacement therapy market is expected to expand in the assessment period. According to an estimate, in 2020, the United States spent more than USD 3 trillion on healthcare.
• Rise in Prevalence of Rare Disease - There are between 1,000 and 2,000 new occurrences of ALSP each year, which is a rare, inherited, autosomal dominant neurological condition with strong penetrance that affects an estimated 10,000 persons in the US.
• Growing Cases of Pompe Disease - Since enzyme replacement therapy (ERT) serves as the only viable treatment option for Pompe disease. Therefore, increasing cases of the illness are anticipated to contribute to market expansion. ERT has contributed to disease course stabilization with motor and pulmonary modifications in patient populations with late-onset Pompe disease. According to experts, there are between approximate 4,000 and about 9,000 cases of Pompe disease globally.
• Technology Advancement - The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended that Lamzede (velmanase alfa), a long-term enzyme replacement therapy for adults, adolescents, and children with mild to moderate forms of alpha-mannosidosis, be given marketing authorization in the European Union (EU).
• Growing Genetic Disorder - A genetically based ailment will affect roughly 6 out of every 10 individuals across the globe.

Challenges

• Lack of Awareness - Lack of awareness about enzyme replacement therapy among developing nations is slowing down the adoption rate of enzyme replacement therapy. Also, the deficiency of technology and adequate infrastructure is expected to hamper the market growth.
• High Cost of Enzyme Replacement Therapy
• Stringent Reimbursement Policies