Albany, NY -- (SBWIRE) -- 09/13/2018 -- Enzymes are molecules that perform catalytic functions in various biochemical reactions that occur in the body. Lysosomal Storage Disease (LSD) occurs due to deficiency of enzymes in the body and leads to malfunction of body organs. Enzyme replacement therapy is the process of replacement of enzymes with artificial enzymes in patients who are suffering from deficiency of enzymes. The therapy is carried out by administering intravenous infusion or by oral administration of enzyme containing preparation. Enzyme replacement therapies are intended to increase the concentration of enzymes but not for modifying underline root of the diseases. Enzyme replacement therapy is currently available for diseases such as Hunter syndrome, Fabry disease, digestive diseases, and Gaucher disease
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The global enzyme replacement therapy market is expected to register high growth over the forecast period owing to factors such as wider availability of therapy, ease of guidelines for approval of enzyme replacement therapy, and advantages such as fewer side effects. Additionally, factors such as ease of access of enzyme replacement therapy and government support for treatment are expected to drive the growth of the market. However, reimbursement issues in various countries, and fewer side effects of therapy can significantly affect the growth of enzyme replacement therapy.
The enzyme replacement therapy market is segmented by enzyme type, indication, route of administration, and end user. On the basis of enzyme type, the market is segmented into imiglucerase, agalsidase beta, taliglucerase, velaglucerase alfa, laronidase, alglucosidase alfa, galsulfase, idursulfase, pancreatic enzymes, pegademase, and others. By indication, the market is segmented as Gaucher disease, Fabry disease, Scheie syndrome, Pompe disease, Hunter disease, combined immunodeficiency disease digestion (SCID), and others. By indication, the Gaucher disease segment is expected to expand at a high CAGR over the forecast period. Gaucher disease develops with the deficiency of an enzyme called glucocerebrosidase. This enzyme helps to break down fatty constituents in the body. When the enzyme levels are too low, fatty elements build up in parts of the body and cause damage.
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On the basis of route of administration, the global enzyme replacement therapy market is segmented into two categories, oral route and parenteral route. By end user, the market is segmented as hospitals, homecare settings, and infusion centers. Among them, hospitals segment accounted for major shares in 2016, and infusion segment is expected to register high growth over the forecast period.
The global market for enzyme replacement therapy is also driven by some other factors such as financial help to patients by numerous non-profit organizations such as the National Gaucher CARE Foundation which makes easy accessibility of enzyme replacement therapy to patients.
Geographically, the global enzyme replacement therapy market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to register significant share in the global enzyme replacement therapy market owing to increasing acceptance of newer therapies as well as increasing prevalence of enzyme deficiency in the region. Moreover, favorable reimbursement policies, drug availability, and advanced healthcare infrastructure are expected to drive the market growth in North America and Europe. Asia Pacific is expected to register high CAGR during the forecast period owing to low cost of enzyme replacement therapies and rising awareness about enzyme replacement therapy in the region.
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Key players in the global enzyme replacement therapy market are Shire plc. Genzyme Corporation, Pfizer Inc., Sigma-Tau Pharmaceuticals Inc., BioMarin Pharmaceutical, Inc., Merck KGaA, Essential Pharmaceuticals Limited, and AbbVie Inc .among others. Rising competition among small and large players in the global enzyme replacement therapy market is expected to drive the market during the forecast period.
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