Global Lysosomal Storage Diseases Therapeutics Market to Register a CAGR of 10.0% Between 2016 and 2026; Europe Likely to be the Dominant Regional Market
New York, NY -- (SBWIRE) -- 11/14/2016 -- Persistence Market Research delivers key insights on the global lysosomal storage diseases therapeutics market in a new report titled, "Lysosomal Storage Diseases Therapeutics Market: Global Industry Analysis and Forecast, 2016–2026". In terms of revenue, the global lysosomal storage diseases therapeutics market is projected to register a healthy CAGR of 10.0% over the forecast period and is estimated to be valued at US$ 14.36 Bn by 2026. In the report, Persistence Market Research analyzes the key factors and trends impacting the growth and performance of the global lysosomal storage diseases therapeutics market over the forecast period.
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An increasing diagnosis rate due to increasing awareness and financial incentives for orphan drug development to recover R&D costs is the primary factor fueling the growth of the global lysosomal storage diseases therapeutics market. Also, an increasing focus of major biopharmaceutical companies on the research and development of drugs for the treatment of rare diseases is expected to boost the global lysosomal storage diseases therapeutics market during the forecast period. Moreover, the number of treatment options currently in the pipeline is further expected to bolster revenue growth of the global lysosomal storage diseases therapeutics market during the forecast period.
However, heterogeneity of the disease leading to underdiagnoses of lysosomal storage diseases, lack of treatment options, and high cost of treatment are factors likely to hamper the growth of the global lysosomal storage diseases therapeutics market over the forecast period.
Advent of therapies targeting neuropathic manifestations by crossing blood brain barrier (BBB) and therapies that overcome immune response and have better tissue selectivity will define the future landscape of the global lysosomal storage diseases therapeutics market.
The global lysosomal storage diseases therapeutics market has been segmented on the basis of Indication (Gaucher's Diseases, Fabry Diseases, Pompe's Syndrome, Mucopolysaccharidosis, Others); Type of Therapy (Enzyme Replacement Therapy, Stem Cell Therapy, Substrate Reduction Therapy, Others); End User (Hospitals, Clinics); and Region (North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA)).
The Gaucher's Diseases indication segment is estimated to account for 29.7% revenue share of the global lysosomal storage diseases therapeutics market by 2016 end. The Enzyme Replacement Therapy segment was valued at US$ 4,833.8 Mn in 2015 and is expected to exhibit the highest CAGR of 10.0% over the forecast period to reach US$ 13.58 Bn by 2026 end. The Hospitals end user segment is expected to witness 2.8X increase in revenue over the forecast period and is expected to create absolute $ opportunity of US$ 346.2 Mn in 2017 over 2016.
Among regions, Europe is expected to be the dominant regional market in the global lysosomal storage diseases therapeutics market during the forecast period. The Europe market accounted for the highest revenue share of 34.8% and was valued at US$ 1,773.2 Mn in 2015; and is expected to witness a CAGR of 10.2% during the forecast period. North America is expected to be the second most lucrative market in the global lysosomal storage diseases therapeutics market and is estimated to represent absolute $ opportunity of US$ 159.6 Mn in 2017 over 2016.
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Shire PLC, Pfizer, Inc., Sanofi, BioMarin Pharmaceutical Inc., Actelion Ltd., Raptor Pharmaceutical Corp., Protalix Biotherapeutics Inc., and Amicus Therapeutics, Inc. are some of the companies operating in the global lysosomal storage diseases therapeutics market. Top market players are investing in focused R&D initiatives to develop innovative products for the treatment of rare diseases and are looking to drive growth in established markets through strategic partnerships, collaborations, and acquisitions. The report discusses individual strategies of these companies in terms of increasing focus on rare diseases, initiatives to increase awareness, and enhancing distribution base. The report concludes with strategic recommendations for players already present in the market and new players planning to enter the global lysosomal storage diseases therapeutics market.
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