What is the global market size of Morquio Syndrome Treatment Market?

Global Morquio Syndrome Treatment Market size was valued at USD 87.52 million in 2021 and is poised to grow from USD 95.72 million in 2022 to USD 188.57 million by 2030, growing at a CAGR of 9.54% in the forecast period (2023-2030).

Morquio Syndrome Treatment Market Size

Morquio Syndrome Treatment Market Insights

Global Morquio Syndrome Treatment Market size was valued at USD 155.6 million in 2023 and is poised to grow from USD 164.62 million in 2024 to USD 258.45 million by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).

An uncommon inherited metabolic disorder that typically affects the skeleton is referred to as Morquio syndrome, commonly known as MPS IV. Morquio syndrome is recognized as a member of the mucopolysaccharidosis group of illnesses (MPS). The body's inability to break down long sugar chains known as glycosaminoglycans is a hallmark of MPS.

One of the key factors propelling the growth of the mosquito syndrome treatment market is the rise in the number of people suffering from the condition globally. Increased government and corporate backing, as well as an increase in the demand for specific medications to treat the syndrome's sequelae, all contribute to the market's rapid expansion. The market is also impacted by the rise in mergers and partnerships between manufacturers to improve treatment alternatives. Additionally, the market for treatments for Morquio syndrome is positively impacted by the rise in healthcare spending, changes in lifestyle, technological advancements, and the occurrence of genetic illnesses. Additionally, the expansion of clinical trials creates lucrative prospects for market participants throughout the projection period of 2022 to 2028.

On the other hand, it is expected that weak reimbursement policies, particularly in the price-sensitive industry, and high production costs may restrain market expansion. The morquio syndrome treatment market is expected to have difficulties during the forecast period of 2022-2028 due to low treatment awareness.

US Morquio Syndrome Treatment Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

In addition to recent regulatory approvals, there has been an increase in R&D for the treatment of Morquio syndrome, as shown by the increased inclusion of the condition in the clinical pipelines of the leading market participants. For the Morquio syndrome, for instance, Shire is conducting a Phase 3 Study, Ultragenyx Pharmaceutical Inc. is testing a medicine (AGT 181) in a clinical trial, and ArmaGen, Inc. is also testing a treatment for the syndrome in young patients. The market for treatments for Morquio syndrome is expanding as a result of this as well as increased disease awareness. 'BioMarin Pharmaceuticals Inc. (US) ', 'Genzyme Corporation (US) ', 'Shire plc (Ireland) ', 'JCR Pharmaceuticals Co., Ltd. (Japan) ', 'Sanofi (France) ', 'Sangamo Therapeutics (US) ', 'ArmaGen, Inc. (US) ', 'GREEN CROSS CORP (South Korea) ', 'Concert Pharmaceuticals Inc. (US) ', 'Alexion Pharmaceuticals Inc. (US) ', 'Novo Nordisk A/S (Denmark) ', 'Eli Lilly and Company (US) ', 'Boehringer Ingelheim International GmbH (Germany) ', 'AstraZeneca (UK) ', 'Amgen Inc. (US) ', 'Merck KGaA (Germany) ', 'Actelion Pharmaceuticals Ltd. (Switzerland) ', 'Biocon (India) ', 'Ultragenyx Pharmaceutical Inc. (US) ', 'Enzyvant Therapeutics Inc. (US)'

It is projected that the market for treatments for Morquio syndrome would expand at a very rapid rate due to the increase in the number of products in the early and advanced stages of R&D as well as the focus on treating rare diseases. Several medications that are now in the pipelines of various firms can be predicted to undergo regulatory approvals for the marketing, if they have positive clinical trial results, as a result of the recent approval of the elosulfase alfa (VIMIZIM) drug.

As demonstrated by the increased inclusion of the illness in the clinical pipelines of the key market participants, there has been increased activity in R&D for the treatment of Morquio syndrome in addition to the most recent regulatory approvals. Examples include a Phase 3 Study being conducted by Ultragenyx Pharmaceutical Inc. for the Morquio syndrome, a clinical trial being conducted by the Shire for children with the syndrome, and a medication (AGT 181) being tested in clinical trials by ArmaGen, Inc. This, along with the increased public knowledge of the condition, is also fueling the market for treatments for Morquio syndrome.

The Asia Pacific is also expected to dominate the market over the forecast period owing to factors such as the rising disposable income of individuals and increasing demand for passenger cars with advanced technology from the developing countries.