Gaucher disease treatment market value to reach $1.16 billion by 2024
Posted: 25 November 2015 | | No comments yet
Sales of Gaucher disease therapeutics will rise from $875 million in 2014 to $1.16 billion by 2024, according to research and consulting firm GlobalData…
Sales of Gaucher disease therapeutics will rise gradually from $875 million in 2014 to $1.16 billion by 2024 across the seven major markets of the UK, Italy, Spain, France, Germany, the US and Israel, according to research and consulting firm GlobalData.
The company’s latest report, OpportunityAnalyzer: Gaucher Disease – Opportunity Analysis and Forecast to 2024, states that while a lack of drugs in late-stage development will limit the expansion of the Gaucher disease treatment market by 2024, growth will be driven by an increase in the number of diagnosed prevalent Gaucher disease cases, meaning the treated population is rising.
Edit Kovalcsik, Ph.D., GlobalData’s Analyst covering Cardiovascular and Metabolic Disorders, commented, “This increase can be attributed to continued efforts by Genzyme and Shire to raise awareness of such a rare condition as Gaucher disease.
“It can also be credited to new screening programs, such as the lysosomal storage disorder new-born screening program introduced in the state of Missouri.”
The analyst adds that despite the anticipated improvements in diagnosis and treatment, a large portion of the Gaucher disease population will go untreated over the forecast period, due to continued late diagnosis and misdiagnosis of Gaucher disease as a result of its heterogeneous manifestations.
Israel will experience the most substantial market growth
Interestingly, the country that will experience the most substantial market growth is Israel, which will see an impressive CAGR of 8.4% over the forecast period, despite holding a more modest market share than the rest of the seven major markets.
Kovalcsik explained, “The substantially faster growth in the Israeli Gaucher disease market compared with the US and the European markets will be driven by the greater increase in the diagnostic rate due to a high level of disease awareness in Israel among both physicians and the general public.
“An increase in the treatment rate in Israel, which is currently much lower compared with the other regions in the seven major markets, will also contribute to the growth of Israeli Gaucher disease drug sales.”
GlobalData’s report also states that the market dominance of the US is set to continue during the forecast period, with the country commanding approximately 56.2% of the treatment space in the seven major markets by 2024.