Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Mucopolysaccharidosis refers to a group of inherited conditions in which the body is unable to properly breakdown mucopolysaccharides, a long chain of sugar molecules that are found in the body. As a result, these sugars build up in cells, blood, and connective tissues, which can lead to several health problems. There are seven forms of mucopolysaccharidosis. Generally, most of the affected people appear healthy at birth and experience a period of normal development, followed by a decline in physical and/or mental function. As the condition progresses, it may affect appearance, physical abilities, organ and system functioning, and in most cases, cognitive development. The underlying genetic cause varies by form. Most cases are inherited in an autosomal recessive manner, although one specific form (Type II) follows an X-linked pattern of inheritance. Treatment is based on the signs and symptoms present in each person.
The global mucopolysaccharidosis (MPS) treatment market is estimated to be valued at US$ 1,566.5 million in 2020 and is expected to exhibit a CAGR of 9.8% over the forecast period (2020-2027).
Figure 1. Global Mucopolysaccharidosis (MPS) Treatment Market Share (%) in Terms of Value, By Region, 2020
Increasing product approvals by regulatory authorities for better treatment outcomes is expected to propel the market growth over the forecast period
Key players operating in the market are focusing on obtaining approvals for their advanced therapeutics and this is expected to drive the market growth over the forecast period. For instance, in June 2019, Biomarine Pharmaceuticals Inc. received approval for its Vimizim (elosulfase alfa) from National Medical Products Administration (NMPA) for the treatment of patients with mucopolysaccharidosis type IVA (MPS IVA), also known as Morquio A syndrome. Vimizim is the first treatment in China approved for this condition.
Adoption of inorganic growth strategies by key players is expected to drive the market growth over the forecast period
Market players are more focused on adoption of inorganic growth strategies such as collaborations and partnerships to strengthen their position in the global mucopolysaccharidosis (MPS) treatment market. For instance, in May 2018, Ultragenyx Pharmaceutical Inc. and Rentschler Fill Solutions, a contract manufacturing organization (CMO) and aseptic fill and finish services expert company, collaborated for the production of injectable Mepsevii (vestronidase alfa), a recombinant form of the human enzyme beta-glucuronidase, to treat patients with mucopolysaccharidosis (MPS) VII, a rare genetic disorder.
Mucopolysaccharidosis (MPS) Treatment Market Report Coverage
||Market Size in 2019:
||US$ 1,566.5 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 3,014.9 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Treatment: Enzyme Replacement Therapy, Stem Cell Therapy.
- By MPS Type: MPS-I, MPS-II, MPS-IV, MPS-VI, MPS-VII, Others (MPS-III and MPS-IX).
- By End User: Hospitals, Specialty Clinics, Others.
Takeda Pharmaceutical Company Limited, BioMarin Pharmaceuticals, Inc., Ultragenyx Pharmaceutical Inc., Sarepta Therapeutics, Abeona Therapeutics Inc., Eloxx Pharmaceuticals, Esteve, Immusoft Corporation, Inventiva, GC Pharma, JCR Pharmaceuticals Co Ltd., RegenxBio Inc., Sangamo Therapeutics, Inc., Bioasis Technologies Inc., and Paradigm Biopharmaceuticals Ltd.
- Increasing product approvals by regulatory authorities
- Adoption of inorganic growth strategies by key players
|Restraints & Challenges:
- High cost of therapeutics coupled with poor diagnosis
Global Mucopolysaccharidosis (MPS) Treatment Market – Impact of Coronavirus (Covid-19) Pandemic
The coronavirus disease (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared coronavirus disease (COVID-19) as a pandemic on March 11, 2020.
According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, around 27 million cases and 900,000 deaths due to coronavirus disease (COVID-19) were reported on September 06, 2020 across the globe.
According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the coronavirus disease (COVID-19) cases in different regions reported on September 06, 2020 are as follows:
||New cases in last 7 days
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of products and raw materials from one place to another, which is expected to limit the market growth during the forecast period.
Mucopolysaccharidosis (MPS) Treatment Market: Restraints
High cost of therapeutics coupled with poor diagnosis are expected to hinder growth of the global mucopolysaccharidosis (MPS) treatment market during the forecast period. Therapeutics for MPS treatment include Vimizin (elosulfase alfa), which is administered for the treatment of MPS IV (Morquio Syndrome) and which, at the time of launch in the market, was estimated to cost US$ 380,000 for annual treatment. Hence, due to the high cost of treatment, patients in the emerging economies such as India cannot afford these therapeutics.
Another key limiting factor is the delay associated with the diagnosis of mucopolysaccharidosis. For instance, according to the study published in 2018, in the Orphanet Journal of Rare Diseases, there is a failure in diagnosis of the two ultra-orphan diseases of mucopolysaccharidosis type I and mucopolysaccharidosis type III.
Major players operating in the global mucopolysaccharidosis (MPS) treatment market include Takeda Pharmaceutical Company Limited, BioMarin Pharmaceuticals, Inc., Ultragenyx Pharmaceutical Inc., Sarepta Therapeutics, Abeona Therapeutics Inc., Eloxx Pharmaceuticals, Esteve, Immusoft Corporation, Inventiva, GC Pharma, JCR Pharmaceuticals Co Ltd., RegenxBio Inc., Sangamo Therapeutics, Inc., Bioasis Technologies Inc., and Paradigm Biopharmaceuticals Ltd.