Alpha Mannosidosis Global Market Report 2024

The alpha mannosidosis market size has grown rapidly in recent years. It will grow from $12.77 billion in 2023 to $15.26 billion in 2024 at a compound annual growth rate (CAGR) of 19.5%. The growth observed in the historical period can be attributed to several factors, including the expansion of emerging markets, urbanization trends, heightened demand for man-made fibers, and government initiatives supporting the textile industry.

The alpha mannosidosis market size is expected to see rapid growth in the next few years. It will grow to $29.62 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The forecasted growth is fueled by global population growth, urbanization, e-commerce expansion, increased sportswear demand, and the rise of organized retail in developing economies, driven by social media penetration. Key trends include the growing use of enzyme therapy, adoption of hematopoietic stem cell transplantation, and the application of cisterna magna infusion.

The anticipated growth in the alpha mannosidosis market is expected to be driven by rising regulatory support for drug approval targeting rare diseases. The inherent challenge of conducting clinical trials for diseases with a small patient population is being addressed through regulatory initiatives. Notably, in 2021, the U.S. Food and Drug Administration (FDA) prioritized support for the development and evaluation of new treatments for rare diseases, recognizing the difficulties posed by limited patient populations. The FDA's authority to grant orphan drug designation for drugs addressing rare diseases provides sponsors with incentives such as tax credits for qualified clinical trials, exemption from user fees, and potential seven years of market exclusivity after approval. This regulatory backing is poised to propel the alpha mannosidosis market forward.

The growth of the alpha mannosidosis market is significantly influenced by the increasing healthcare expenditure. Healthcare expenditure encompasses costs related to family planning services, nutrition programs, emergency medical assistance, and health services. Government initiatives, grants, and incentives play a crucial role in providing financial support and encouraging research and development in the field of rare diseases, including alpha mannosidosis. For instance, data released by the Centers for Medicare & Medicaid Services (CMS) in June 2023 indicates that the national health expenditure (NHE) in the United States reached $4.3 trillion in 2021, accounting for 18.3% of the Gross Domestic Product (GDP). This growing healthcare expenditure reflects a commitment to supporting healthcare initiatives, contributing to the advancement of treatments for rare diseases. Consequently, the increasing healthcare expenditure is expected to drive the alpha mannosidosis market.

Major companies in the alpha mannosidosis market are actively focused on developing enzyme replacement therapies to address rare alpha-mannosidosis. Enzyme replacement therapy involves supplying exogenous alpha-mannosidase, which helps reduce the accumulation of mannose-rich oligosaccharides in various tissues and organs, a characteristic feature of alpha-mannosidosis contributing to its pathological effects. A notable example is Chiesi Global Rare Diseases, a U.S.-based pharmaceutical company, which, in February 2023, launched Lamzede (velmanase alfa), the first enzyme replacement therapy authorized in the United States for treating alpha-mannosidosis. Lamzede acts similarly to the human body's alpha-mannosidase enzyme, restoring normal cellular activity in patients. The treatment involves a weekly injection of 10 mg of Lamzede.

The alpha mannosidosis market is further propelled by a significant surge in biopharmaceutical research and development (R&D) investments. The emphasis on R&D reflects the commitment of pharmaceutical companies and academic institutions to advancing innovative treatments for alpha mannosidosis. Advancements in genetic therapies and a deeper understanding of the molecular basis of alpha mannosidosis have contributed to the development of potential treatments. Examples of increased R&D investments include the UK government's announcement of a spending of $18.9 billion (£15.3 billion) in pharmaceutical R&D in 2020, with an allocated budget of $49.2 billion (£39.8 billion) for 2022-2025. Moreover, in March 2023, Merck, a Germany-based biopharmaceuticals manufacturer, reported a 3.9% increase in R&D spending for the year 2022 compared to 2021. Similarly, Roche Holding AG, a Switzerland-based biopharmaceuticals manufacturer, announced a 3.7% increase in R&D expenditure for the year 2022 compared to 2021. These increased investments in research and development by biopharmaceutical companies underscore the momentum driving the alpha mannosidosis market forward.

In April 2023, Italian pharmaceutical company Chiesi Farmaceutici acquired Amryt Pharma, a UK-based pharmaceutical company, for $1.25 billion. This strategic acquisition enhances Chiesi's Global Rare Diseases business division by incorporating Amryt Pharma's approved commercial products for rare diseases into its existing portfolio. Amryt Pharma is recognized for its dedication to developing and delivering innovative treatments for rare diseases.

Major companies operating in the alpha mannosidosis market report are Chiesi Farmaceutici S.p.A., Cipla, EdiGene Inc., Immunochina, Takara Bio, Daiichi Sankyo Company, Ultragenyx Pharmaceutical Inc., Mitsubishi Tanabe Pharma, Oxford Biomedica PLC, Santen Pharmaceutical Co., Merck, GenScript, Cellular Biomedicine Group, GE Healthcare, Lonza, Nikon CeLL innovation Co. Ltd., Gilead Sciences, Bristol-Myers Squibb, Novartis AG, Amgen, Centogene, Zymenex A/S, Albumedix Ltd., Kite Pharma, Catalent, Freeline Therapeutics, Avectas, DiNAQOR AG, Vivet Therapeutics, Allergan, PsiOxus Therapeutics, Herantis Pharma PLC, Biocad, Celgene Corporation, Johnson & Johnson, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Bayer AG, Lyric Opera of Chicago, AMC Entertainment Holdings Inc., Regal Entertainment Group, Carmike Cinemas Inc., Ultragenyx, PTC Therapeutics, Gilead Sciences Inc., GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Pfizer S.R.L., AstraZeneca PLC, Biotchpharma, Gene Vector Technologies, BrainStorm Cell Therapeutics, Pluristem, Biogen SA, Sanofi, Adcock Ingram.

North America was the largest region in the alpha mannosidosis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the alpha mannosidosis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the alpha mannosidosis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary therapeutic approaches for alpha mannosidosis include bone marrow transplant (BMT) and enzyme replacement therapy (ERT). A bone marrow transplant involves replacing dysfunctional marrow with healthy marrow to address the underlying genetic defect. Enzyme replacement therapy aims to supplement or replace a deficient enzyme in individuals lacking the enzyme or having a deficiency. The indications for alpha mannosidosis are classified into Type I, Type II, and Type III, and these therapeutic interventions are implemented across various healthcare settings, including hospitals and specialty clinics. These treatments play a crucial role in managing the symptoms and addressing the underlying genetic abnormalities associated with alpha mannosidosis.

The alpha mannosidosis market research report is one of a series of new reports that provides alpha mannosidosis market statistics, including alpha mannosidosis industry global market size, regional shares, competitors with an alpha mannosidosis market share, detailed alpha mannosidosis market segments, market trends and opportunities, and any further data you may need to thrive in the alpha mannosidosis industry. This alpha mannosidosis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The alpha mannosidosis market includes revenues earned by entities by intellectual disability, skeletal abnormalities, hearing loss, and muscle weakness. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.