According to the research report, the global alpha mannosidosis
market is expected to be worth US$21.8 mn by the end of 2024 as
compared to US$2.6 mn in 2015. The overall market is expected to
progress at a CAGR of 11.9% between 2017 and 2024.
Since the Orphan Drug Act of 1983 came into effect it has permitted
the orphan drugs being developed for alpha mannosidosis market
exclusivity. Thus, it has been the biggest boon to the pharmaceutical
companies, allowing them to reign over the market in undisrupted
ways. For instance, ERT treatment such as Lamazym has been given the
status of an orphan drug across Europe and the U.S. Owing to this
benefit, pharmaceutical companies have been able to recover drug
development cost. The alpha mannosidosis market is also expected to
benefit from the tax credits that manufacturers of orphan drugs can
claim, especially in the U.S. Similar incentives granted by governing
bodies are expected to ensure the growth of the global market.
Furthermore, factors such as favorable reimbursement, reduced
marketing costs, longer market exclusivity, premium pricing, and
acceptance of lesser evidence for licensing are also expected to work
in the favor of the global market. Collaborating with support groups,
effective supply chains, and emphasis on understanding consumer
demands has also won this market a significant clientele over the
past few years.
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The biggest restraint in the global alpha mannosidosis market is the
high cost of drug development. This problem is furthermore
complicated by the fewer number of patients due to the rarity of this
disease that cut down the returns for the manufacturing company.
Thus, the narrow profit margins are expected to have a negative
impact on the growth of the global market. The lack of awareness
about rare diseases, which is restraining the early diagnosis of the
diseases is also expected to hamper the growth of the global market.
On the basis of treatment, the global market is segmented into bone
marrow transplant (BMT) and enzyme replacement therapy (ERT). Of
these, the BMT market is expected to stand as it surges at a CAGR of
9.2% during the forecast period. Bone marrow transplant therapy is
the process of replacing unhealthy or diseased bone marrow with
healthy bone marrow. This treatment is predominantly used for
treating patients suffering from alpha mannosidosis. Due to its
exclusivity to treat the disorder, the demand for BMT is expected to
remain relatively high in the coming few years.
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Geographically, the global market has been segmented into North
America, Europe, the Middle East and Africa, Latin America, and Asia
Pacific. Of all the regions, North America is anticipated to lead the
global market at a CAGR of 12.3% during the forecast period. The
encouragement for drug development and support for product launches
is expected to this regional market in the coming years. The North
America alpha mannosidosis market is also expected to receive an
impetus from the favorable reimbursement policies in the coming
years.
The only two important players in the global alpha mannosidosis
market are Zymenex A/S and Cytomedix, Inc. These companies are
focused on conducting clinical trials for developing monotherapy
products, combination products, designing improved route of
administration, and molecule type. “Mergers and acquisitions are
expected to be a key business strategy of these players in the near
future,” states the lead author of this research report. The
competitive landscape of the overall market is quite consolidated.
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