Global Gaucher Disease Treatment Market to Grow at ~5% CAGR

New York, Aug. 17, 2022 (GLOBE NEWSWIRE) — Kenneth Research has published a detailed market report on ‘Global Gaucher Disease Treatment Market’ for the forecast period, i.e. 2022 – 2031, which includes the following factors:

• Market growth over the forecast period
• Detailed regional synopsis
• Market segmentation
• Growth drivers and challenges
• Profiling of key market players

Global Gaucher Disease Treatment Market Size:

The global Gaucher disease treatment market garnered an approximate revenue of USD 1.9 billion in the year 2021 and is estimated to grow at a CAGR of nearly 5% over the forecast period, i.e., 2022 – 2031. The growth of the market can primarily be attributed to the growing incidences of Gaucher disease globally, along with the rising need for suitable and precise treatment for the disease. It was observed that, the prevalence of Gaucher disease around the world is between 0.72 and 1.70 per 100,000 people and it is equally prevalent in males and females. Another important aspect that is anticipated to have a significant impact on the market expansion is the development and launch of novel therapeutic medications. In the projected years, government support programs to raise public awareness of disease related treatments, and increasing health spending by nations across the globe are also estimated to accelerate the market growth. According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low and middle income nations, and close to 4% in the high-income countries as of 2019.

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Global Gaucher Disease Treatment Market: Key Takeaways

• The North America region gained a significant share of the revenue in 2021
• The type 1 disease segment to dominate the revenue graph
• Hospitals sub-segment remains prominent in the application segment

Increasing Geriatric Population across the Globe to Boost Market Growth

Gaucher disease is a genetic or hereditary condition in which body fat (lipid) called glucosylceramide accumulates in tissue and organs, primarily because of a defect in the enzyme B-glucocerebrosidase. People suffering with Gaucher disease may or may not show any symptom at times while youngsters are more susceptible to the condition than aged people. Hence, growing geriatric population all over the world is also expected be an important factor to influence the global Gaucher disease treatment market growth. According to the data by World Health Organisation (WHO), the number and proportion of geriatric population, meaning the people aged 60 years and older in the population is rising. The number of people aged 60 years and older was 1 billion in 2019. This number is estimated to increase to 1.4 billion by 2030 and 2.1 billion by 2050.

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In addition to this, increasing prevalence of Gaucher disease backed by the growing rate of inheritance of the disease, supportive initiatives by governments around the world, and growing awareness about the disease are predicted to be major factors to propel the growth of the market. The growth of the global Gaucher disease treatment market can be further ascribed to the rising investments and expenditure for the R&D activities to continuously bring up more feasible solutions for the treatment. According to research reports, since 2000, global research and development expenditure has more than tripled in real terms, rising from approximately USD 680 billion to over USD 2.5 trillion in 2019.

Global Gaucher Disease Treatment Market: Regional Overview

The global Gaucher disease treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.

Prevalence of Gaucher Disease Drove Market in the North America Region

The market in the North America region witnessed significant growth in the year 2021 owing to the advancement in research and development for rare disorders. Moreover, significant prevalence of the disease in the region, and development in healthcare sector as well as rising awareness among people about the treatment are expected to drive the market growth. It was noted that, there are nearly 6,200 individuals with Gaucher disease in the United States. Gaucher disease is the most common genetic disorder of persons of Ashkenazic Jewish ancestry, where the incidence is noted to be as high as 1 in 500 births. Further, the easy availability of better medical facilities, backed by the favourable medical policies in the region are estimated to elevate the market growth. In addition to this, the boost in the Gaucher disease treatment market growth can be ascribed to the presence of major key market players in the region.

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Increasing Percentage of Health Expenditure in GDP to Favor Market Growth in Asia Pacific Region

On the other hand, market in the Asia Pacific region is anticipated to witness modest growth by growing at a higher CAGR over the forecast period. The growth of the market can primarily be associated with the growing prevalence of Gaucher disease in the region. The constant development in healthcare infrastructure, increasing health expenditure in the region, and support initiatives taken by government to spread awareness among people are estimated to boost the growth of the Gaucher disease treatment market. As per The World Bank, in the year 2019, share of global health expenditure in East Asia & Pacific region accounted to 6.67% of GDP.

The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:

• North America (U.S., Canada)
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
• Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Global Gaucher Disease Treatment Market, Segmentation by Disease Type

• Type 1 (Neuropathic Form)
• Type 2 (Perinatal Lethal Form)
• Type 3 (Slow-neurologic Decay Form)

The type 1 disease segment is estimated to hold the largest market size by growing at a significant CAGR over the forecast period. The common symptoms of type 1 disease include spleen and liver enlargement, bone problems, and fatigue. The growth of the segment can be associated with the rising number of people suffering from type-1 disease across the globe. As sourced from the National Gaucher Foundation, approximately 95 percent of total cases are affected by type 1 Gaucher disease in western countries.
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Global Gaucher Disease Treatment Market, Segmentation by Application

• Hospitals
• Ambulatory Surgical Centers
• Clinical Research Institutes

The hospitals segment is estimated to hold a substantial market share in the global Gaucher disease treatment market during the forecast period. The growth of the segment can be accredited to the existence of a huge patient pool in a hospital facility. Furthermore, rising healthcare expenditure per capita worldwide is also estimated to propel the growth of the market. According to the data by The World Bank, as of 2019, current health expenditure per capita among the global population was USD 1,121.97.

Global Gaucher Disease Treatment Market, Segmentation by Treatment Type

• Enzyme Replacement Therapy (ERT)
• Substrate Reduction Therapy (SRT)

Few of the well-known market leaders in the global Gaucher disease treatment market that are profiled by Kenneth Research are AVROBIO, Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Pfizer Inc., PerkinElmer Inc., GlaxoSmithKline plc, AstraZeneca PLC, Sanofi-aventis Groupe, Takeda Pharmaceutical Company Limited, and Janssen Global Services, LLC.  and others.
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Recent Developments in the Global Gaucher Disease Treatment Market

• In January 2020, the U.S. Food and Drug Administration (FDA) issued a clearance notice for AVR-RD-02, an investigational gene therapy for the treatment of Gaucher disease, according to the announcement by AVROBIO, Inc.
• In December 2020, Prevail Therapeutics was acquired by Eli Lilly and Company Pvt. Ltd. in order to launch a gene therapy program to cure fatal genetic diseases.

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