Incidence of rare diseases and increasing healthcare expenditure is likely to contribute significantly towards the growth of enzyme replacement therapy market in the near future. Advancements and innovation in medical facilities has been creating incremental opportunities for leading players and manufacturers since the recent past. Specialty treatment pharmacies and hospital pharmacies are expected to be the most lucrative sectors contributing towards increasing revenue growth of enzyme replacement therapy market in the coming years.
Report on the enzyme replacement therapy market had been comprehensively studied by analysts belonging to a well-known market research company. The comprehensive study supported analysts in unveiling lucrative information with regards to enzyme replacement therapy market on a global basis. Analysts found out that enzyme replacement therapy market is projected to grow at 6.5% CAGR throughout the forecast period, 2018-2028. Moreover, enzyme replacement therapy market is estimated to touch nearly US$ 13,776.2Mn by the end of 2028.
Leading players working in the enzyme replacement therapy market include Leadiant Biosciences, Inc., Ultragenyx Pharmaceutical Inc., Pfizer Inc., Allergan plc, BioMarin Pharmaceutical Inc., Shire plc, Johnson & Johnson Services, Inc., and Alexion Pharmaceuticals, Inc. The emerging players are taking immense efforts in initiating innovative as well as advanced developments, which would be extremely beneficial for the expansion of enzyme replacement therapy market. Production and introduction of new enzyme replacement therapy is likely to benefit leading players and manufacturers with expansion of business and customer-base.
Shire plc Enters Into Strategic Collaboration with NanoMedSyn
Leading players and manufacturers can note that Shire plc has taken a major step by entering into strategic collaboration with NanoMedSyn, which is a biotech company located in France. This preclinical research collaboration has taken place for the purpose of developing enzyme replacement therapy that would be beneficial for lysosomal storage disorder.
The notable point here is that this treatment has been developed with the help of NanoMedSyn’s proprietary synthetic derivative expertise known as AMFA. On a major basis, Shire plc and NanoMedSyn will be carrying out preclinical assessments of AMFA, which will be combined to recombinant enzyme.
BioMarin Pharmaceutical Inc. Receives FDA Approval for its Rare Metabolic Disorder Medication
Leading players and manufacturers can note that BioMarin Pharmaceutical Inc. recently received an FDA approval for its Palynziq medication. This new medication has been developed for treating adults with phenylketonuria, which is regarded as rare metabolic disorder. Palynziq is regarded as injected enzyme replacement therapy, whose supply chain has been closely taken care of by the governments, with regards to cost structure.
BioMarin Pharmaceutical Inc. has been taking immense initiatives in developing new products that is providing them potential growth opportunities with regards to business expansion as well as customer-base. Palynziq is regarded as the first FDA approved enzyme replacement therapy that targets the fundamental source of phenylketonuria. It also helps the body in breaking down phenylalanine, which is an amino acid present in the protein-rich foods. In regions such as United States, infants have been screened with high importance at birth, in order to assure that they are diagnosed as well as treated at the earliest.
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