- The most critical financial incentive of orphan drug approval for pharma companies is the exclusivity in market for several years to recover the cost of R&D
- As alpha-mannosidosis is a rare genetic disorder, orphan drugs are used for its treatment and huge profits on such drugs is vital for pharma companies
ALBANY, N.Y., Nov. 11, 2020 /PRNewswire/ -- Transparency Market Research has now published a new research report that offers a detailed information about the global alpha mannosidosis market. The research report tries to offer meaningful and actionable insights about the key segments, prominent growth drivers, restraining factors, geographical outlook, and the current situation of the vendor landscape of the global market.
According the research report, the global alpha mannosidosis market was initially valued at US$7.6 Mn in 2018. The research report projects the market to grow at a strong CAGR of 9.9% over the course of the given forecast period ranging from 2019 to 2027. Given the rate of growth, the market is expected to reach a valuation worth US$18.7 Mn by 2027.
Alpha mannosidosis is very rare genetic disorder. It is caused due to the deficiency of an enzyme known as alpha mannosidosis.
Typically, it is a hereditary autosomal recessive disorder and leads to mutations in both the chromosome copies.
Most of the time, the treatment for alpha mannosidosis is supportive and suggestive. The treatment therapy is concentrated on diagnostic and preventing accumulations of oligosaccharides inside the mutated cells that lead to damage in tissue, organs, and finally leads to death.
Some of the therapies for treating alpha mannosidosis include gene therapy, enzyme replacement therapy (ERT), peripheral blood stem cell transplantation (PBSCT), bone marrow transplant, and others.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Alpha Mannosidosis Market (Treatment - Bone Marrow Transplant (BMT) and Enzyme Replacement Therapy (ERT); Indication - Type I, Type II and Type III; End Users - Hospitals and Specialty Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/2501
Global Alpha Mannosidosis Market – Key Driving Factors
One of the biggest driving factor for the growth of the global alpha mannosidosis market is the expensive nature of drugs. Because the alpha mannosidosis is a rare genetic disease, the orphan drugs used for treatment are the key revenue source for the market.
A treatment costs around US$200,000 to US$400,000. Thus, there is a potential for huge profits on expensive drugs has become a major incentive for the drug companies.
In addition to this, patents on several blockbuster drugs are expected to expire soon. This is projected to open door for generic drug manufacturers to enter the market and even out the competition.
This may work in favor of the growth of the global alpha mannosidosis market as the treatment will become accessible to more number of people.
Furthermore, governments across the globe are offering lucrative reimbursement policies, which might also drive the growth of the global market in the coming years.
Analyze Alpha Mannosidosis Marketgrowth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Global Alpha Mannosidosis Market – Geographical Outlook
Based on geographical segmentation, there are five main regions of the global alpha mannosidosis market.
These regions are North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe.
It is projected that the North America region will dominate the global alpha mannosidosis market in the coming years of the forecast period ranging from 2019 to 2027.
The growth of the North America market is primarily fueled by the presence of several notable companies operating in the region. Moreover, a matured healthcare infrastructure and early adoption new age therapeutics are also expected to help the development of the North America market.
Europe is the next big market following North America.
The global alpha mannosidosis market presently has a single company that markets its product. Zymenex is the industry leader in the global market and has been concentrating on research and development activities to produce more effective therapeutics. The competitive landscape of the global alpha mannosidosis is projected to expand in coming years of the forecast period as other pharma companies with new drugs in pipeline get their approvals.
The global alpha mannosidosis market has been segmented as follows:
Global Alpha mannosidosis Market, by Treatment Type
Bone Marrow Transplant
Enzyme Replacement Therapy
Global Alpha mannosidosis Market, by Indication
Global Alpha mannosidosis Market, by End-user
Global Alpha mannosidosis Market, by Region
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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