Lysosomal Storage Disease (LSD) Market REPORT OVERVIEW
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The global lysosomal storage disease (LSD) market size was USD 7436.7 million in 2021 and is projected to touch USD 12074.2 million by 2031, at CAGR of 4.9% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the Global Lysosomal Storage Disease (LSD) Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Lysosomal Storage Disease (LSD) is a hereditary condition that results in a variety of nervous system problems, including cellular malfunction and clinical anomalies. LSD is divided into more than 65 categories. Lipid Metabolism Disorder and Glycoprotein Metabolism Disorder are two different categories for this illness. Additionally, Gaucher disease and Fabry disease are subtypes of lipid metabolism disorders, while Pompe disease is a subtype of glycoprotein metabolism disorders. The absence or dysfunction of lysosomal enzymes causes a range of uncommon inherited metabolic abnormalities known as lysosomal storage diseases.
COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market
The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.
LATEST TRENDS
"Growth of the market in recent years"
An enzyme that is missing or insufficient in the body is replaced by an enzyme replacement therapy. In addition to others, Velaglucerase Alfa, Taliglucerase Alfa, Agalsidase beta, Laronidase, and Imiglucerase are a few of the enzyme replacement therapies for lysosomal storage diseases that are now on the market. According to the National Institute of Neurological Disorders and Stroke (NINDS), 5,000 to 10,000 people globally are thought to have pompe disease. Additionally, there are regional and ethnic differences in the prevalence of infantile onset pompe disease. One in 14,000 persons in various nations, including African Americans, are affected.
There are now 23 orphan medications authorised for the management of 11 lysosomal storage disorders. Among them, four diseases—Fabry disease, cystinosis, Gaucher disease, and Pompe disease—have several therapies approved. One drug has been licenced by the FDA for the treatment of Mucopolysaccharidosis types I, II, IVA, VI, and VII, Neuronal Ceroid Lipofuscinosis 2 (CLN2), Lysosomal Acid Lipase Deficiency (LAL-D), and.
Lysosomal Storage Disease (LSD) Market SEGMENTATION
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- By Type
Based on type the Global Lysosomal Storage Disease (LSD) Market is classified as Lipid Metabolism Disorder, Glycoprotein Metabolism Disorder.
- By Application
Based on application the Global Lysosomal Storage Disease (LSD) Market is classified as Hospitals, Clinics, Others.
DRIVING FACTORS
"The Utilization as a Catalyst to Boost the Market Growth "
One of the main causes of the significant need for therapies for lysosomal storage illnesses is the rising prevalence of lysosomal storage diseases in humans. For example, out of 4 million infants screened, over 12,000 newborns were found to have a rare disorder that, if left undiagnosed and untreated, would result in severe developmental disability or death, according to a report released by the National Organisation for Rare Disorders on February 8, 2021. The date of this report is November 2022. The market could expand due to rising research and development efforts to discover newer treatments that can treat people with lysosomal storage disorder. For instance, two M6P gene treatments were given orphan drug classification by the U.S. Food and Drug Administration (FDA) on February 8, 2021.
"Extensive Application in Laundering Process to Multiply the Production and Market Growth"
Diseases including Fabry disease, Gaucher disease, lysosomal acid lipase deficiency, mucopolysaccharidosis, Hunter syndrome, and Pompe disease are all caused by the same enzyme deficit that is known as lysosomal storage disease. Enzyme replacement therapy includes injecting enzymes intravenously to treat an enzyme deficit. There are fewer side effects with enzyme replacement than with other forms of therapy. Sources for enzymes include recombinant DNA technologies, animal cells, and human cells. Although it does not offer a permanent cure, enzyme replacement aids in preventing the body's persistent damage brought on by an enzyme deficit. Depending on the condition, treatment entails weekly or monthly doses.
RESTRAINING FACTORS
"Several Challenges Associated with the Local Irritation to Restrain the Market"
Treatment for Lysosomal Storage Diseases is extremely expensive. This can impede the expansion of the global market for medicines for lysosomal storage diseases because it is a costly procedure. For instance, enzyme replacement therapy is the most successful medication for treating lysosomal storage diseases, according to a March 25, 2021 article in the Orphanet Journal of Rare Diseases. Therefore, after the initial success of ERT for Gaucher illness, research and development efforts were more concentrated on it. The cost of many current or proposed medicinal techniques is a significant restriction.
Lysosomal Storage Disease (LSD) Market REGIONAL INSIGHTS
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"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"
Food safety is improved by keeping the conveyor system equipment free of bacteria, thus machine designs and cleaning methods are given more consideration. A conveyor system manufacturer, Dorner Mfg. Corp., has a wide range of conveyor systems that are created to comply with the United States Department of Agriculture rules for red meat and poultry. By removing horizontal surfaces, blind spots, and harbour points, these conveyors reduce the chance of food and water accumulating and the development of bacteria. Due to the abundance of food processing facilities in Germany, France, and the UK, Europe is thought to hold the highest proportion (about 47%) of the conveyor system market for the meat and poultry sub-industry.
KEY INDUSTRY PLAYERS
"Financial Players to Contribute Towards Expansion of Market"
This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.
List of Market Players Profiled
- Actelion Pharmaceuticals (Switzerland)
- Amicus Therapeutics (US)
- Arena Pharmaceuticals (US)
- Astellas Pharma (US)
- Astrazeneca (US)
- Biomarin Pharmaceutical (US)
- Eli Lilly (US)
- Lexicon Pharmaceuticals (US)
- Novo Nordisk (US)
- Merck (Germany)
REPORT COVERAGE
The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 7436.7 Million in 2021 |
Market Size Value By |
US$ 12074.2 Million by 2031 |
Growth Rate |
CAGR of 4.9% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the Lysosomal Storage Disease (LSD) market expected to touch by 2031?
The global Lysosomal Storage Disease (LSD) market is expected to USD 12074.2 million by 2031.
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What CAGR is the Lysosomal Storage Disease (LSD) market expected to exhibit by 2031?
The Lysosomal Storage Disease (LSD) market is expected to exhibit a CAGR of 4.9% by 2031.
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Which are the driving factors of the Lysosomal Storage Disease (LSD) market?
One of the main causes of the significant need for therapies for lysosomal storage illnesses is the rising prevalence of lysosomal storage diseases in humans.
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Which are the key players functioning in the Lysosomal Storage Disease (LSD) market?
Actelion Pharmaceuticals, Amicus Therapeutics, Arena Pharmaceuticals, Astellas Pharma, Astrazeneca, Biomarin Pharmaceutical, Eli Lilly, Lexicon Pharmaceuticals, Novo Nordisk, Merck are the key players functioning in the Lysosomal Storage Disease (LSD) market.