Albany, NY -- (SBWIRE) -- 02/06/2019 -- Cytomedix Inc. and Zymenex A/S are leading the global market for alpha mannosidosis, finds a new research report by Transparency Market Research (TMR). The competitive landscape in this market is a bit concentrated and both the leading players are actively working on conducting clinical trials for the development of various molecule types and monotherapy and combination products. They are also emphasizing on designing advance route of administration. Over the coming years, mergers, acquisitions, and partnerships are likely to come to front league of strategies that participants in this market are taking up for the expansion of their businesses, states the market study.
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According to the research report, the opportunity in the global alpha mannosidosis market was US$2.6 mn in 2015. Progressing at a CAGR of 11.90% during the period from 2017 to 2024, the market is anticipated to reach US$21.8 mn by the end of the forecast period. Among treatments, bone marrow transplants are witnessing a higher demand from patients and the trend is anticipated to remain so over the next few years. In terms of the geography, North America has been dominating the global market with an advanced medical infrastructure. Proliferating at a CAGR 12.30% between 2017 and 2024, the North America market for alpha mannosidosis is expected to continue at to top position over the next few years, states the research report.
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alpha mannosidosis marketRising patient Pool to Create Growth Opportunities
Although alpha mannosidosis is a rare disease, the constant increase in the population across the world has augmented the number of alpha mannosidosis patients, which in turn, has augmented the demand for drugs required for the treatment. "Slow but continuous rise in the patient pool is reflecting positively on the growth of the global alpha mannosidosis market," says an analyst at TMR. Going forward, the infrastructural advancements in the medical and healthcare industry, worldwide, are anticipated to support the growth of this market in the near future, reports the market study.
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High Cost Incurred in Drug Development to Hamper Market
On the flip side, the high cost incurred in the development of these drugs is dissuading manufacturers, which is anticipated to hamper the market's growth in the years to come. However, the increasing number of partnerships between leading players is projected to minimize the impact of this restraint over the next few years, states the research report.
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