During the forecast period of 2023-2033, the global enzyme replacement therapy market is expected to reach an estimated value of ~USD 14 billion by 2033, by expanding at a CAGR of ~7%. The market further generated a revenue of ~USD 10 billion in the year 2022. Major key factors propelling the growth of enzyme replacement therapy market worldwide are the growing cases of lysosomal storage diseases and rise in medicare spending.

In medicine, enzyme replacement therapy consists of replacing an enzyme that has been deficient or lacking in the body with another enzyme and consists of using enzymes or proteins with enzymatic properties to treat congenital enzyme deficiencies. There are several diseases that may be treated with this therapy, such as Fabry disease, Pompe disease, Guyton disease, and Tay-Sachs disease. In view of the increasing prevalence of such diseases, including genetic disorders, the need for effective treatment options is increasing. In most cases, an intravenous (IV) infusion of an enzyme solution is administered, in which a controlled drip of fluid is used to administer the replacement enzyme into the bloodstream.

The growth of the global enzyme replacement therapy market can majorly be attributed to the technological advancements in healthcare coupled with an increase in government expenditures on healthcare. It was observed that healthcare expenditures in the United States exceeded USD 3 trillion in 2020. On the other hand, the market growth can also be attributed to a wide range of innovative products and medications launched by leading players in the market. It was recently announced that Teijin Limited, a pharmaceutical and information technology company, has made Revcovi 2.4 mg immediately available for intramuscular injection, under the name Epaegademase (Genetic Recombination). As the first Japanese medication for Adenosine Deaminase (ADA) Deficiency, Revcovi 2.4 mg is expected to improve the activity of the enzyme and improve the immune system.

In light of the availability of alternative therapies, such as chaperone therapies, in which pharmacological chaperones are able to cross the blood-brain barrier to treat patients effectively, other therapies tend to be more prevalent than ERT. Hence this factor is expected to be the major hindrance for the growth of the global

By Product (Agalsidase Beta, Imiglucerase, Velaglucerase Alfa, Idursulfase, Galsulfase, and Laronidase)
The agalsidase beta segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the increasing number of people suffering from chronic diseases worldwide. For instance, a projected increase of around 45 million Americans with chronic diseases is expected between 2000 and 2030. Furthermore, the rising number of people suffering from Fabry disease is anticipated to drive the segment growth over the forecast period. Algalsidase beta consists of genetically modified human alpha-galactosidase, intended for treating Fabry disease, which is caused by genetic deficiencies in the enzyme.

The Asia Pacific enzyme replacement therapy market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions on account of the increasing prevalence of rare disorders among the patient population. According to the Economist Intelligence Unit, Asia and the Pacific region is home to 258 million individuals suffering from rare diseases. Moreover, improving healthcare infrastructure, favorable reimbursement policies, the availability of infusion centers being expanded, an increase in the adoption of new treatments, presence of enzyme deficiency among population in the region are expected to drive the market in the region over the forecast period.

The market research report on global enzyme replacement therapy also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Enzyme Replacement Therapy Market

Some of the key players of the global enzyme replacement therapy market are BioMarin, Leadiant Biosciences, Inc., Pfizer Inc., Sanofi, AbbVie Inc., Takeda Pharmaceutical Company Limited, JCR Pharmaceutical Co., Ltd., AstraZeneca, Clinigen Limited, Teijin Limited, and others.

For more info visit our blog at: https://www.researchnester.com/reports/enzyme-replacement-therapy-market/4455