According to the latest report published by Credence Research, Inc. “Alpha Mannosidosis Market – (IndicationType – Type I, Type II and Type III);(Treatment – Bone Marrow Treatment and Enzyme Replacement Treatment): Market Growth, Future Prospects and Competitive Analysis, 2017-2025,” the market was valued at US$4.6 Mn in 2016, and is expected to reach US$ 23.9 Mn by 2025, expanding at a CAGR of 17.2% from 2017 to 2025.
Browse the full report Alpha Mannosidosis Market:Market Growth, Future Prospects and Competitive Analysis, 2017-2025 at http://www.credenceresearch.com/report/alpha-mannosidosis-market
Alpha Mannosidosis belongs to a group of diseases known as the lysosomal storage disorders. The prevalence of alpha-mannosidosis is estimated to be 1 in every 500,000 people in the general population. Alpha-mannosidosis affects men and women in equal numbers and can potentially affect individuals of any ethnic group worldwide. The treatment option for alpha mannosidosis is symptomatic and supportive. The alpha mannosidosis market on the basis of treatment has been segmented into bone marrow treatment and enzyme replacement therapy. Bone marrow treatment is under clinical trial for the treatment of alpha mannosidosis. However, BMT procedure is expensive and carries the risk of serious complications including graft-versus-host disease and other long-term effects. Enzyme replacement therapy involves replacing a missing enzyme in individuals who are deficient or lack the particular enzyme in question. Lamazym, an enzyme replacement therapy, is under the late stage of clinical trials as a potential treatment for individuals with alpha-mannosidosis. Moreover, Gene therapy is also being studied as another possible approach to therapy for some lysosomal storage disorders.
The commonly seen signs of dysfunctions in the people with alpha mannosidosis include intellectual disability, skeletal abnormalities and distinctive facial features. The global alpha mannosidosis market is segmented into three separate subtypes such as mild (type I), moderate (type II) and severe (type III). The type II indication held the largest share in the global alpha mannosidosis market due to high prevalence of type II alpha mannosidosis. The Type II indication is expected to grow during the forecast period due to rising prevalence of alpha mannosidase. Moreover, ongoing clinical trials for the treatment of alpha mannosidosis would further drive the market during the forecast period.
North America held the largest share in the alpha mannosidosis market due increased clinical trials in the regions. After the Orphan Drugs Act passed in the U.S., the development and approval of drugs for orphan diseases has escalated. As a result, it has emerged as the biggest benefit for the pharmaceutical companies to launch orphan drugs in a fast track basis. The ERT drug for alpha mannosidosis named Lamazym has also been given the orphan drug status across Europe and the U.S. Asia Pacific is projected to grow at a fastest growth rate during the forecast period. The growth will be attributed to the rising awareness about the disease in the developing countries. Government of Australia has implemented a national plan for helping patients with rare diseases to reduce the mortality rate due to these diseases. The plan aims to raise awareness about the burden of rare diseases among patients, its impact on social life, and healthcare professionals.
Market Competition Assessment:
The alpha mannosidosis market currently only one companyhaving their products marketed. However, many companies have their products in the clinical stages that would fuel the market growth. Zymenex is the leading player in the market focusing on R&D to fight genetic diseases.The company has developed Lamazym, a recombinant enzyme indicated for patients with alpha mannosidosis.
Key Market Movements:
– The orphan drug status for treatment of rare diseases have fastened the development and approvals for the orphan drugs.
– Government initiatives in the reimbursement and creating awareness among the patients have also resulted in the growth of the alpha mannosidosis market.