In a recent research named “Lysosomal Storage Diseases Therapies Market: Global Industry Analysis and Forecast, 2016-2026,” Persistence Market Research provides important insights on the global market for therapeutics for lysosomal storage diseases. The global market for therapies for lysosomal storage diseases is anticipated to grow at a robust CAGR of 10.0% over the course of the forecast period and is anticipated to reach US$ 14.36 Bn by 2026. The important trends and variables influencing the development and performance of the global market for medicines for lysosomal storage diseases are examined in the study by Persistence Market Research.
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Market Forecast
The global lysosomal storage diseases therapeutics market has been divided based on Type of Therapy (enzyme replacement therapy, stem cell therapy, substrate reduction therapy, others), End User (hospitals, clinics), Region (North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA), and Indication (Gaucher’s Diseases, Fabry Diseases, Pompe’s Syndrome, Mucopolysaccharidosis, and Others).
By the end of 2016, the market for therapies for lysosomal storage diseases is expected to have a 29.7% revenue share from the Gaucher’s Diseases indication segment. The market for enzyme replacement therapy, which had a 2015 market value of US$ 4,833.8 Mn, is anticipated to grow at the highest CAGR of 10.0% during the forecast period, reaching US$ 13.58 Bn by the end of 2026.
During the forecast period, the global market for therapies for lysosomal storage diseases is anticipated to be dominated by Europe. The market in Europe, which had a 34.8% revenue share and a value of US$ 1,773.2 Mn in 2015, is anticipated to grow at a CAGR of 10.2% during the next five years. The market for therapies for lysosomal storage diseases is predicted to be second only to Asia in terms of revenue, with an absolute $ potential of US$ 159.6 Mn in 2017 compared to 2016.
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Market trends and driving factors
The key driver of the growth of the worldwide lysosomal storage disorders therapeutics market is a rising diagnosis rate brought on by more awareness and financial incentives for orphan drug development to recoup R&D expenses. Additionally, throughout the forecast period, the global market for therapies for lysosomal storage diseases is anticipated to grow as major biopharmaceutical companies place a greater emphasis on the research and development of medicines for the treatment of uncommon diseases. The number of therapies that are currently in development is also anticipated to support the market for treatments for lysosomal storage diseases throughout the forecast period.
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