The enzyme replacement therapy market in North America is expected to grow from US$ 4,108.69 million in 2022 to US$ 6,120.01 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2022 to 2028.
Rapid Regulatory Approval with Other Benefits for Drugs with Orphan Drug Designation
A condition that affects fewer than 200,000 people nationwide is termed as orphan disease. Fabry's disease, Pompe disease, and Hunter syndrome are among a few examples. Supporting the development and evaluation of new therapies for rare diseases is a key priority for the Food and Drug Administration (FDA). The FDA has the authority to grant orphan drug designation to a drug or biological product. Additionally, stakeholders involved in the development of orphan drug molecules are eligible for the following benefits:
Thus, the rapid regulatory approval with other marketing benefits for the drug with orphan drug designation is driving the enzyme replacement therapy market growth.
Market Overview
The North America enzyme replacement therapy market is segmented into the US, Canada, and Mexico. The US enzyme replacement therapy market holds the largest share of the market. The market growth is due to the rise in the prevalence of lysosomal storage diseases and increasing regulatory approval of enzyme replacement therapy products. Intravenous (IV) infusions are used in enzyme replacement therapy (ERT) to treat the underlying enzyme shortage that underlies rare diseases, including Gaucher, Fabry's, and Hunter's syndrome. With the help of a modified form of the enzyme, ERT balances low levels of the glucocerebrosidase (GCase) enzyme, which builds up in the bodies of patients with Gaucher, Hunter, and Fabry's disease and is broken down by this enzyme. Therefore, rising cases of these rare diseases will require the need of developing novel treatments. For instance, according to the National Organization for Rare Disorders (NORD), the number of people in the US who had Gaucher disease was ~6,000 in 2021. According to statistics released by the National Institute of Neurological Disorders and Stroke in August 2021, there are an estimated 32,950 cases of Pompe disease in the US, affecting 1 in 40,000 persons. The National Fabry Foundation estimates that there were ~7,713 Fabry patients in the US as of May 2020. Thus, a restricted number of rare diseases are treated through enzyme replacement therapies, which is boosting the market growth across the region.
North America Enzyme Replacement Therapy Market Segmentation
The North America enzyme replacement therapy market is segmented into enzyme type, therapeutic conditions, route of administration, end user, and country.
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 are the leading companies operating in the enzyme replacement therapy market in North America.