Alpha-Mannosidosis Market to Grow US$ 21.8 Million by 2024

Alpha-mannosidosis is an inherited genetic disease that can cause many different health problems. These include mental retardation, skeletal abnormalities, hearing loss, muscle weakness, coarse facial features, and increased susceptibility to infection. The severity of symptoms can vary widely among people with the disease. There are three main types of alpha-mannosidosis. Type I, the mildest form of disease. Type II, is a moderate form of the disease commonly observed and causes skeletal abnormalities and muscle weakness, but symptoms often progress gradually. Type III is the most severe form of disease, usually fatal in childhood.

According to the report, the Alpha Mannosidosis Market is projected to expand at a CAGR of 11.9% from 2017 to 2024 to reach US$ 21.8 Mn by 2024.

The factors such as market exclusivity for orphan drugs, fee reductions and tax credits, increasing investment in rare diseases, Patent-cliff that propels the rare disease market etc. are expected to drive the market during the forecast period. The regulatory environment has been more advantageous for developers since the passage of the 1983 Orphan Drug Act. Moreover, venture capitalists see the legislative incentives as a major opportunity to create returns on their investments. Moreover, the patents on several big-name drugs are soon expected to expire, opening the door to generic drug competition and reducing drug company returns. This patent cliff makes the rare-disease market more attractive for investment by the companies. Whereas, high cost of orphan drugs, discounted purchase of orphan drugs, lack of awareness and research challenges. Are expected to hamper the market growth. For instance, in lysosomal storage disorder, no or low prevalence of certain types of storage disorders is reported in certain geographies due to lack of awareness amongst the clinicians about the various symptoms. In addition, lack of guidance regarding rare disease specific research methodologies and identifying patients for study specially, including very impaired or minimally impaired patients in research remains a challenge.

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The alpha mannosidosis market has been segmented based on treatment, indication, end-user and geography. Based on treatment, the market has been segmented into bone marrow transplant (BMT) and enzyme replacement therapy (ERT). Enzyme replacement therapy (ERT) is expected to dominate the market with a considerable share in 2017. With the expected increase in the incidence of alpha mannosidosis the market is expected to grow at a high rate in the next few years. In terms of indication, the market has been categorized into type I, type II and type III. The market for type III segment is projected to expand at the maximum rate during the forecast period. Based on end-user, the market has been segmented into hospitals and specialty clinics. The hospitals segment dominated the market and the trend is likely to continue driven by increasing patient burden due to rise in patient burden.

Geographically, the market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific is expected to dominate the market in 2017 with a considerable market share. Increasing awareness in the developing countries drives the market. For instance, Government of Australia has implemented a national plan for rare diseases in order to improve outcomes of rare diseases in Australia. The plan contains eight important principles including raising awareness for burden of rare diseases among patients, general population and healthcare professionals.

North America market is also expected to witness a considerable CAGR during the forecast period. Orphan drug law stimulates the new drug discovery through offering monetary as well as non-financial benefits to the manufacturer, such as 50% of cost of conducting clinical trials, 7 years market exclusivity, waiver from user fee, eligibility for federal research grants etc. Moreover, the reimbursement policies in the North America are also favorable for the market growth. Medicare and Medicaid programs provide good extent of reimbursement lysosomal storage disease therapeutics. Approximately 84% of prescription drug plans (PDP) covered under Medicare part D and part B provide reimbursement for orphan drugs for FDA approved indication.

Zymenex A/S is a biopharmaceutical company in Denmark involved research and development of pharmaceutical products for the treatment of rare, genetic diseases, for which there is no treatment. The company has developed Lamazym (velmanase alfa) for the treatment of alpha mannosidosis. Lamazym has received orphan drug designation in both Europe and the U.S.

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