Global Alpha Mannosidosis Market is Set to Exhibit a Strong CAGR of 11.9% in Coming Years
The global market of Alpha Mannosidosis is expected to be worth US$21.8 mn by the end of 2024 as against US$2.6 mn in 2015, as the market progresses at a CAGR of 11.9% between 2017 and 2024. Alpha mannosidosis market is being driven factors such as market exclusivity being enjoyed by orphan drugs, fee reductions, tax credits, increasing investment in the rare disease treatment, and premium pricing.
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In terms of geography, the market has been segmented into five key regions including Europe, North America, Latin America, Asia-Pacific, Middle East and Africa. Through the regional analysis, the report analyzes the market attractiveness for each region, which provides insights into the major market which are beneficial to invest in future. Currently, Asia-Pacific is expected to dominate the market in 2017, with the maximum market share. Furthermore, the market has been segmented by treatment, indication and by end users.
Alpha Mannosidosis is a rare inherited lysosomal storage disorder characterized by immune deficiency, facial and skeletal abnormalities, hearing impairment and intellectual disability. The symptoms, development & severity of alpha-mannosidosis diverge widely from one person to another, including between siblings who share the same mutation. The disease can be varied in three types such as type I, type II and type III. However, this is a rare disease, a definite rise in the population has surged the number of patients thereby augmented the demand for drugs required for treating alpha-mannosidosis. Based on end-user, the market has been segmented into hospitals and specialty clinics. Between these two, hospitals segment dominated the market from past years and also expected to remain dominant.
Moving further, the report also studies some of the factors driving this market, like the exclusivity of orphan drugs, increasing investment in the rare disease treatment, fee reductions and tax credits etc.
At present, Bone marrow transplant (BMT) and Enzyme replacement therapy (ERT) are the two treatment options for alpha-mannosidosis. It affects 1 in every 10,00,000 people universally. The most severe form of the disease, the infantile phenotype (type 1) leads to quick progressive mental retardation and typically death between 3 and 12 years of age.
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Moreover, a leading company named “Zymenex” has developed a recombinant enzyme designated for patients with Alpha-Mannosidosis disease, known as Lamazym (velmanase alfa). Lamazym enzyme has also received orphan drug designation in Europe and the U.S.
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