LATAM Fabry Disease Market, by Therapy Type (Enzyme Replacement Therapy (Agalsidase Beta (Fabrazyme), Agalsidase Alfa (Replagal), Pegunigalsidase Alfa (PRX-102, Phase III)) Chaperon Therapy (Migalastat (Galafold Phase III)), Substrate Reduction Therapy (Lucerastat (Phase III), Venglustat (Phase III))), by Route of Administration (Oral, Parenteral), by Distribution Channel (Hospitals Pharmacies, Online pharmacies, Retail Pharmacies), and by Country (Brazil, Argentina, Mexico, Rest of Latin America) is estimated to be valued at US$ 81.330 Million in 2022 and is expected to exhibit a CAGR of 6.7% during the forecast period (2022-2030).
Increasing research by academic researchers for understanding and treatment of fabry disease is expected to drive the LATAM fabry disease market, over the forecast period. For instance, according to an article published in September, 2019, by National Center for Biotechnology Information, a team of researchers had conducted a study to understand fabry disease and its treatment in detail. The article highlighted the progress in understanding of fabry disease. The article includes data about the available fabry disease treatments, such as enzyme replacement and chaperone therapies as well treatment in research such as substrate reduction therapies, mRNA-based therapies, and gene therapies.
Medication approval by regulatory bodies for the treatment of fabry disease is expected to drive growth of the LATAM fabry disease market. For instance, on August 10, 2018, Amicus Therapeutics, a biotechnology company announced that the U.S. Food and Drug Administration (FDA) approved Galafold (migalastat) 123 mg capsules. Galafold is an oral, drug for the treatment of adults patients with fabry disease. Galafold is the first oral medicine for Fabry disease, and the first new therapy approved to treat Fabry disease.
LATAM Fabry Disease Market - Impact of Coronavirus (COVID – 19) Pandemic
The coronavirus disease (COVID-19) pandemic is expected to hamper growth of the LATAM fabry disease market over the forecast period. COVID-19 is the recent pandemic outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared coronavirus disease (COVID-19) as a pandemic on March 11, 2020. According to the World Health Organization (WHO) Weekly epidemiological update on COVID-19, the number of new cases decreased during the week of 15 to 21 August 2022. Therefore, as of August 21, 2022, 593 million confirmed cases and 6.4 million deaths have been reported globally.
Reduced clinical trials for the discovery of drugs during COVID-19 pandemic is expected to hamper growth of the LATAM fabry disease market. For instance, according to data published on November 19, 2021, by Society for Human Resource Management, a human resources membership association, drug manufacturing industries had to halt clinical trials due to imposed COVID-19 restrictions by governments in most of the countries worldwide. Due to COVID-19 restriction people movement were stopped, transport facility was disrupted due to which drug manufacturing industries faced shortage of man power as well as shortage of raw materials.
Browse 37 Market Data Tables and 45 Figures spread through 408 Pages and in-depth TOC on LATAM Fabry Disease Market, By Therapy Type (Enzyme Replacement Therapy (Agalsidase Beta (Fabrazyme), Agalsidase Alfa (Replagal), Pegunigalsidase Alfa (PRX-102, Phase III)) Chaperon Therapy (Migalastat (Galafold Phase III)), Substrate Reduction Therapy (Lucerastat (Phase III), Venglustat (Phase III))),By Route of Administration (Oral, Parenteral), By Distribution Channel (Hospitals Pharmacies, Online pharmacies, Retail Pharmacies), and By Country (Brazil, Mexico, Argentina, Columbia, Rest of Latin America).
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Published article highlighting for better treatment to the patient with fabry disease in Brazil opens opportunity for the growth of LATAM fabry Disease Market, over the forecast period. For instance, according to an article published on February 10, 2021 by Brazilian Journal of Nephrology, in Brazil patients with fabry disease are at risk due to lack of proper treatment. The article says that the availability of treatment such as enzyme replacement therapy for the patients with fabry disease is at risk in Brazil. This is expected to give opportunity for growth of the fabry disease market in Brazil by increasing the treatment facilities, providing more drugs, improving the therapy, etc.
Key Takeaways of the LATAM fabry Disease Market:
- LATAM fabry disease market is expected to exhibit a CAGR of 6.7% over the forecast period (2022-2030), owing to growth in potential markets, especially in Brazil. While Argentina accounted for the major market share.
- Resent success in the treatment of patients with fabry disease by new advanced therapy i.e., gene therapy is expected to drive growth of the LATAM fabry disease market. For instance, according to data published on March 1, 2021, by California Institute for Regenerative Medicine, Stem cell gene therapy for fabry disease showed positive results in the patient Darren Bidulka. Darren Bidulka was the first patient who was treated by gene therapy for fabry disease at the Foothills Medical Centre in Calgary in 2017 and the result showed that the therapy was working and was safe. The successful treatment of fabry disease by new therapy is expected to drive market for fabry disease treatment.
- Major players operating in the LATAM fabry disease market include Amicus Therapeutics, Inc., Sanofi-Aventis U.S. LLC, GlaxoSmithKline plc, Mendelics, Takeda Pharmaceuticals U.S.A., Inc., Teva pharmaceutical Industries Ltd., Pfizer Inc., Novartis AG, Moderna Therapeutics Inc., and Resverlogix
