October 30, 2018
WELLESLEY, Mass., Oct 30, 2018 – Due to increasing awareness, rising focus by pharmaceutical companies, early diagnosis and newborn screening, the global market for lysosomal disease treatments is experiencing continued growth, according to a report from BCC Research.
In 2018, the global market for lysosomal disease treatments was worth $5.1 billion. However, BCC Research estimates that it will reach a value of $7.6 billion by 2023, indicating a compound annual growth rate (CAGR) of 8.3%, according to Lysosomal Disease Treatments: Technologies and Global Markets.
The lysosomal storage diseases (LSDs) are a group of 50 diseases that are characterized by accumulation of waste product in the lysosomes. They are rare inborn defects and have a combined incidence rate of 1 in 1500 to 7000 live births. In lysosomal storage diseases, there is a deficiency of one or more of the many catabolic enzymes that are located within the lysosome.
“There have been marked advancements in the treatment of LSDs; this has been possible by the improved knowledge of their molecular bases and pathophysiology,” said report author, Neha Maliwal. “Additionally, availability of technologies allowing large-scale production, purification and manipulation of new drugs, recombinant proteins and viral vectors, and as well the orphan drug legislation have given a boost to the development of therapies for LSDs and has encouraged biotech companies to invest in the treatments for rare diseases.”
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Lysosomal Disease Treatments: Technologies and Global Markets( PHM183A )
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