The global Fucosidosis Therapeutics Market is expected to garner a market value of USD 10 Million in 2023 and is expected to accumulate a market value of USD 17.91 Million by registering a CAGR of 6% in the forecast period 2023 to 2033. The market for Fucosidosis Therapeutics registered a CAGR of 4% in the historical period 2018 to 2022.
Studies state that Fucosidosis is a rare autosomal recessive lysosomal storage disorder characterized by a deficiency of alpha -L-fucosidase. Its estimated frequency is below 1 in 200,000 live births.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 10 Million |
| Anticipated Forecast Value (2033) | USD 17.91 Million |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for Fucosidosis Therapeutics reflected a value of 4% during the historical period, 2018 to 2022.
A series of international-level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Fucosidosis Therapeutics.
The market's growth is attributed to the factors such as expanding the area of advanced therapies along with gene delivery technologies and has developed progressive competition among key players focused on the commercialization of their therapies. The biotechnology companies are investing in acquisitions, mergers/collaborations, and expansions as key strategies to increase in-house expertise and strengthen product pipelines.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for Fucosidosis Therapeutics. In the years to come, increasing focus by government organizations and private agencies like WHO and pharmaceutical companies to create awareness of fucosidosis is fuelling the market growth. Thus, the market for Fucosidosis Therapeutics is expected to register a CAGR of 6% in the forecast period 2023 to 2033.
Increased Advancements in R&D technology to Push the Market Growth
Fucosidosis is caused by mutations in a gene known as FUCA1, which provides instructions for the production of an enzyme called alpha-L-fucosidase. Fucosidosis is one of nine identified glycoprotein storage diseases. The massive research and technology for glycoprotein analysis to unravel their structure and function is propelling immense growth. Also the advancing R&D technology and investments into Fucosidosis analysis for drugs therapies vaccines disease progression understanding the biology of glycoprotein and product launches.
Glycoprotein analysis has attracted huge Research and Development investments, subsidization, and reimbursements for glycoprotein-associated antibodies mutations and associated pathway targeting which altogether propels the market growth.
Expensive Cost of Treatment to restrict Market Growth
The expensive treatment of Fucosidosis Therapeutics, less awareness of Fucosidosis disease, and insubstantial treatment options are hampering the market growth. Furthermore, lack of health remuneration policies, rise in cost, and side effects associated with certain treatments is expected to hinder the market growth.
Improvement in healthcare spending propelling the growth of Fucosidosis Therapeutics in Asia Pacific
The Asia Pacific is expected to exhibit a significant growth rate of all regions over the forecast period, with a CAGR of 5% during the forecast period. The growth is owed to increased awareness, significant increases in healthcare spending, and a rising frequency of the Fucosidosis Therapeutics Market in the region. Asia Pacific is an emerging market due to the increase in point care approach to health & care. An increasing number of hospitals in India and China makes a promising market for the market worldwide.
Technological Advancements Shaping Landscape for Fucosidosis Therapeutics in North America
North America is anticipated to acquire a market share of about 25% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region. In August 2022, GlycoNet, a pan-Canadian network of Centers of Excellence centered at UAlberta, received a USD 10.68 million investment from the Canadian Foundation for Innovation’s Major Science Initiative Fund to continue its mission of researching glycomics for the benefit of human health. Furthermore, due to the presence of leading technological advancements in the healthcare sector and healthcare facilities with the advancements in technology, efficient treatments are being introduced.
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Bone marrow transplantation is an effective therapy to drive the market
The bone marrow transplant procedure is prescribed for the treatment of advanced stages of leukemia, Fucosidosis, Hodgkin, and non-Hodgkin lymphomas, multiple myeloma, aplastic and sickle cell anemia, thalassemia, and other diseases. Increasing awareness, combined with an increase in initiatives run by healthcare practitioners, is majorly responsible for the global growth of the bone marrow transplant market. Therefore, it is anticipated that bone marrow transplant is likely to witness significant growth during the forecast period.
Hospitals to take the lead and drive market growth
According to the FMI analysis, Hospitals account for the largest market share. The requirement for several hospital stays and visits during the Fucosidosis Therapeutics facilitates the growth of this segment. Hospitals are also emphasizing the delivery of various comprehensive programs with personalized and professional support in the management of target diseases.
Key players in the Fucosidosis Therapeutics Market are Sigma-Aldrich. BD, Enzo Life Sciences, Creative Diagnostics, Thermo Fisher Scientific, Epitope Diagnostics Inc., R&D Systems, QED Bioscience Inc, and ACROBiosystems among other global players.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 10 Million |
| Market Value in 2033 | USD 17.91 Million |
| Growth Rate | CAGR of 6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Therapy, End-User, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa (MEA) |
| Key Countries Profiled | USA, Canada, Brazil, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, Association of Southeast Asian Nations, Gulf Cooperation Council, South Africa |
| Key Companies Profiled | Sigma-Aldrich. BD; Enzo Life Sciences; Creative Diagnostics; Thermo Fisher Scientific; Epitope Diagnostics Inc.; Research and Development Systems; QED Bioscience Inc; ACROBiosystems. |
| Customization | Available Upon Request |
In 2023, the market is expected to be worth USD 10 million.
From 2018 to 2022, the global market thrived at a 4% CAGR.
The market is expected to continue growth at a 6% CAGR until 2033.
The Asia Pacific region is scheduled to expand at a swift pace, with a CAGR of 5%.
The market is expected to be around USD 17.91 million by 2033.
| Estimated Market Size (2024E) | USD 37.5 billion |
|---|---|
| Projected Market Value (2034F) | USD 112.8 billion |
| Value-based CAGR (2024 to 2034) | 11.7% |
| Market Value for 2023 | USD 15,246.7 million |
|---|---|
| Projected Market Value for 2033 | USD 30,318.5 million |
| Value-based CAGR of Market for 2023 to 2033 | 7.1% |
| Expected Market Value (2023) | USD 147.9 Million |
|---|---|
| Projected Forecast Value (2033) | USD 412.4 Million |
| CAGR (2023 to 2033) | 10.8% |
| Expected Market Value (2023) | USD 1.2 Billion |
|---|---|
| Anticipated Forecast Value (2033) | USD 3.72 Billion |
| Projected CAGR (2023 to 2033) | 12% |
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Fucosidosis Therapeutics Market
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