Report : South & Central America Enzyme Replacement Therapy Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Enzyme Type (Alglucosidase Alfa, Agalsidase Beta, Imiglucerase, Idursulfase, Galsulfase, Velaglucerase Alfa, and Other Enzymes), Therapeutic Conditions (Gaucher's Disease, Fabry's Disease, MPS, Pompe's Disease, SCID, and Other Therapeutic Conditions), Route of Administration (Parenteral and Oral), and End User (Hospitals, Infusion Centers, and Others)
At 5.5% CAGR, the South America Enzyme Replacement Therapy Market is speculated to be worth US$ 688.58 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the South America enzyme replacement therapy market was valued at US$ 498.11 million in 2022 and is expected to reach US$ 688.58 million by 2028, registering an annual growth rate of 5.5% from 2022 to 2028. Increasing partnerships and collaborations to synergize the business and innovative developments in enzyme replacement therapy are the critical factors attributed to the market expansion.
The advancement in enzyme replacement therapy increased in the last few years, mainly due to increased awareness and diagnosis of rare diseases. Additionally, patients' acceptance of early diagnosis created an opportunistic pool for existing market leaders and new market players to cater to more patients. The emergence of collaborations, partnerships, and acquisitions among key players is expected to create growth opportunities over the coming years. For instance,
- In May 2021, Aceragen announced the acquisition of Enzyvant's RVT-801 (now ACG-801). Enzyvant's RVT-801 is an investigational enzyme replacement therapy for ceramidase deficiency, presenting itself as Farber disease. Aceragen is focused on transformational therapeutics, and the acquisition helped the company to expand its product portfolio.
- In May 2019, Biomarine and Takeda Pharmaceutical signed an agreement for the in-license of enabling technology for the exogenous replacement of iduronate-2-sulfatase with Idursulfase-IT in patients via direct delivery to the CNS for the long-term treatment of Hunter Syndrome in patients with cognitive impairment to slow the progression of cognitive impairment (TAK-609).
Thus, the above-mentioned instances indicate the expansion of key players in several aspects, creating a synergistic business opportunity in the coming years.
On the contrary, cutthroat competition among market players hurdles the growth of South America enzyme replacement therapy market.
- Based on enzyme type, the South America enzyme replacement therapy market is segmented into alglucosidase alfa, agalsidase beta, imiglucerase, idursulfase, galsulfase, velaglucerase alfa, and other enzymes. The other enzymes segment held 41.8% market share in 2022, amassing US$ 208.29 million. It is projected to garner US$ 297.55 million by 2028 to expand at 6.1% CAGR during 2022–2028.
- Based on therapeutic conditions, the South America enzyme replacement therapy market is segmented into gaucher's disease, fabry's disease, MPS, pompe's disease, SCID, and other therapeutic conditions. The gaucher's disease segment held 26.1% market share in 2022, amassing US$ 130.16 million. It is projected to garner US$ 189.08 million by 2028 to expand at 6.4% CAGR during 2022–2028.
- Based on route of administration, the South America enzyme replacement therapy market is bifurcated into parenteral and oral. The parenteral segment held 79.0% market share in 2022, amassing US$ 393.29 million. It is projected to garner US$ 548.62 million by 2028 to expand at 5.7% CAGR during 2022–2028.
- Based on end user, the South America enzyme replacement therapy market is segmented into hospitals, infusion centers, and others. The hospitals segment held 57.9% market share in 2022, amassing US$ 288.42 million. It is projected to garner US$ 395.71 million by 2028 to expand at 5.4% CAGR during 2022–2028.
- Based on country, the South America enzyme replacement therapy market has been categorized into Brazil, Argentina, and rest of South America. Our regional analysis states that US captured 55.3% market share in 2022. It was assessed at US$ 275.30 million in 2022 and is likely to hit US$ 397.22 million by 2028, exhibiting a CAGR of 6.3% during the forecast period.
Key players dominating the South America enzyme replacement therapy market are Sanofi; BioMarine Pharmaceutical Inc; Takeda Pharmaceutical Company Limited; AbbVie Inc; Janssen Pharmaceutical (Johnson & Johnson Services, Inc.); Alexion Pharmaceutical, Inc. (AstaZeneca); Amicus Therapeutics; Recordati S.p.A; Recordati S.p.A; CHIESI farmaceutici S.p.A; and Pfizer Inc, among others.