Rise in prevalence of lysosomal diseases, the introduction of orphan medicines, and expanding government programs and investments for the development of innovative medications drive the growth of the global lysosomal disease treatment market.
PORTLAND, Ore. , Sept. 6, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Lysosomal Disease Treatment Market by Disease Type (Gaucher's Diseases, Fabry Diseases, Pompe's Syndrome, Mucopolysaccharidosis, Others), by Type of Therapy (Enzyme Replacement Therapy, Stem Cell Therapy, Substrate Reduction Therapy, Others), by End User (Hospitals, Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031". According to the report, the global lysosomal disease treatment industry generated $7.6 billion in 2021, and is anticipated to generate $14.1 billion by 2031, witnessing a CAGR of 6.4% from 2022 to 2031.
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Rise in prevalence of lysosomal diseases, the introduction of orphan medicines, and expanding government programs and investments for the development of innovative medications drive the growth of the global lysosomal disease treatment market. However, lack of effective treatments for lysosomal diseases and their high cost restrict the market growth. Moreover, increase in awareness regarding preventative measures for lysosomal diseases and lysosomal disease treatment market trends are anticipated to present new opportunities in the coming years.
The outbreak of the Covid-19 pandemic had a negative impact on the global lysosomal disease treatment market, as the focus of medical professionals, governments, and general public moved to containing the spread of the virus. This factor resulted in a significant decline in demand for the lysosomal disease treatments across several sectors, particularly the health and pharmaceutical sector.
The main cause of the interruptions experienced by patients getting treatments for lysosomal disorder in hospitals was the risk of infection spread. In order to maintain the social distancing norms, the number of clients decreased considerably. People stopped going to clinics and hospitals unless they had an emergency.
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The Gaucher's Diseases segment to maintain its leadership status throughout the forecast period
Based on disease type, the Gaucher's diseases segment held the highest market share in 2021, accounting for nearly two-fifths of the global lysosomal disease treatment market, and is estimated to maintain its leadership status throughout the forecast period, owing to increase in prevalence of Gaucher's disease and patients seeking treatments for Gaucher's disease. However, the Fabry diseases segment is projected to manifest the highest CAGR of 7.3% from 2022 to 2031. This is owing to the rise in incidence of Fabry diseases, and approval of Fabrazyme which shows significant results in the treatment of Fabry diseases.
The Enzyme replacement therapy segment to maintain its leadership status throughout the forecast period
Based on type of therapy, the enzyme replacement therapy segment held the highest market share in 2021, accounting for around three-fourths of the global lysosomal disease treatment market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 6.6% from 2022 to 2031. This is owing to the high effectiveness of enzyme replacement therapy in lysosomal disease treatments, strong product pipeline of novel enzyme replacement therapies and increase in patients seeking the treatment. The report also analyzes segments such as stem cell therapy, substrate reduction therapy, and others.
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The hospitals segment to maintain its lead position during the forecast period
Based on distribution channel, the hospitals segment accounted for the largest share in 2021, contributing to more than half of the global lysosomal disease treatment market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 7.1% from 2022 to 2031, owing to the large number of patient visits to hospitals for the diagnosis and treatment of lysosomal disease. The report also analyzes clinics segment.
North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global lysosomal disease treatment market and is expected to maintain its dominance throughout the forecast period. This is owing to the high prevalence of lysosomal diseases, the well-established healthcare facilities, recent technological advancements, and rise in demand for early diagnosis of lysosomal diseases in the region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 7.7% from 2022 to 2031. This is owing to an increase in population suffering from lysosomal diseases and the rise in awareness about lysosomal diseases and its treatments in the region.
These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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