The global Fabry disease market size is worth US$ 1.9 Bn in 2022. The market is projected to witness a robust CAGR of 8% over the forecast period of 2022-2032, to arrive at the market valuation of US$ 4.10 Bn by 2032. The rapid growth of the market over the forthcoming years can be credited to the ongoing enhancement in the treatment therapies of Fabry disease.
Fabry diseaseis also known as Anderson-Fabry disease and alpha-galactosidase A deficiency. It is a rare genetic disorder of lipid metabolism resulting from the deficient activity of the alpha-galactosidase A (a-Gal A) enzyme. The deficiency of the enzyme is caused by the alterations in the genes that instructs the cells to make alpha-galactosidase A (a-Gal A) enzyme.
Fabry disease is known to cause variety of systemic symptoms and complications, one of them being metabolic disorders. The metabolism of sphingolipids is minimized, in fabry disease which results in the multiple organ failure and death. Owing to the deficiency of alpha galactosidase A enzyme, glycolipid called Gb3 accumulates in the blood vessels and other organs and thus results in formation of blockage or clots that leads to malfunctioning of the system.
Fabry Disease Market Value (2022)
US$ 1.9 Bn
Fabry Disease Market Forecast Value (2032)
US$ 4.1 Bn
Fabry Disease Market CAGR (2022-2032)
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The market for Fabry disease is predicted to expand over the forecast period owing to the continued increase in the rate of incidences of this genetic disease. Generally, therapeutic approaches such as enzyme replacement therapy (ERT) and chaperone, developed to improve clinical symptoms of patients suffering from Fabry disease, are used to treat the patients. Consequently, an increasing number of patients and a rise in the use of these treatments are predicted to facilitate market development over the projected period. Furthermore, the increasing prevalence of late-onset and type 1 classic Fabry disease, especially among males, is contributing to the overall market growth.
A recent study indicates that Fabry disease is emerging as one of the leading genetic metabolic storage diseases. The disease often results in progressive organ impairment or failure, or premature death. Additionally, Fabry disease patients aged 40 years or beyond are susceptible to heart problems, which cause abnormal expansion of heart muscles due to additional effort needed to pump blood. Thus, an increase in the aging population is predicted to boost the diagnosis and treatment of Fabry disease, further expanding the Fabry disease market over the forecast period.
The market is also stimulated by the rising organ-related problems usually found in patients with late-onset of Fabry disease. Various other factors contributing to market development over the forecast period include:
The global Fabry disease market growth might impede owing to the financial burden of patients suffering from rare genetic disorders, such as Fabry, and the huge costs associated with its treatment. For instance, the overall expenditure of enzyme replacement therapy (ERT) can rise up to US$ 200,000 or beyond each year. In addition to this, the high costs of treatment offered by major patient-dedicated biotechnology companies might restrict the market growth. For instance, Amicus Therapeutics Inc. offers oral chaperone therapy named Galafold (migalastat), which is priced at US$ 315,000 per year. All these factors are likely to hinder market development going forward.
The major drivers that drive the fabry disease market growth are extensive R&D activities, adoption of advanced technologies in the research practices. Due to hereditary nature and severity of the disease, complications in physiological systems, such as cardiac system, urinary system and others are expected to increase the demand for trustworthy treatment. Extensive R&D practices is one of the valuable drivers of the market.
Due to this, various therapeutic products, such as, PRX-102, JR-051, NP-003, GC-1119 and others, are under pipeline studies. However, rare incidence rate (1 in 40,000), lack of awareness about advancements in genetic sciences, technological limitations in certain region of the world are some of the restraining factors that may affect the growth of the fabry disease market.
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The enzyme replacement therapy is designed to provide enzyme to the patients suffering from enzyme deficiency. It was found that this treatment was not a complete cure though it improved the metabolism.
Enzyme replacement therapy is the most expensive and unaffordable treatment among the treatments for fabry disease, hence the market for enzyme replacement therapy is expected to register moderate growth in overall fabry disease market. The analgesics, anticonvulsants and NSAIDs are generally known for the treatment of pain and other symptoms associated with fabry disease hence, contributing majorly to the market.
Geographically, the global fabry disease market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, APAC, Japan, Middle East and Africa.North America is estimated to be the most lucrative region owing to the affordability of the treatment followed by Europe. The rare incidences in APAC and MEA countries are expected to limit the growth of fabry disease market in these regions.
The major players operating in this market and involved in development of new medications include Sanofi-Aventis LLC, iBio, Inc., GlaxoSmithKline plc, Genzyme Corporation, and Neuraltus Pharmaceuticals, Inc. Some of the existing key players in the global fabry disease market are Novartis Pharmaceuticals, Merc & Co., Inc., Bristol-Myers Squibb Company, AbbVie Inc., Amgen Inc., Teva pharmaceutical Industries Ltd., Pfizer Inc., Takeda Pharmaceutical Co. Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global fabry disease market has been classified on the basis of treatment, end use and geography.