Malignant Mesothelioma Therapeutics Market to Grow with a CAGR of 6.25% through 2028
Increasing incidence rates and growing research and
development efforts are factors driving the global Malignant Mesothelioma
Therapeutics market in the forecast period 2024-2028.
According to TechSci Research report, “Malignant
Mesothelioma Therapeutics Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Malignant
Mesothelioma Therapeutics Market stood at USD 243.22 million in 2022 and is
anticipated to grow with a CAGR of 6.25% in the forecast period, 2024-2028. Malignant Mesothelioma is a rare and aggressive form of cancer primarily
caused by exposure to asbestos. Although its incidence is relatively low
compared to other cancers, the challenges it presents to patients and
healthcare providers are substantial. The Global Malignant Mesothelioma
Therapeutics Market has seen significant growth in recent years, driven by
various factors. One of the primary drivers of the global malignant mesothelioma
therapeutics market is the rising incidence of the disease. Despite efforts to
reduce asbestos exposure, new cases continue to emerge due to the long latency
period of mesothelioma. As awareness of the disease grows, more patients are
being diagnosed at earlier stages, increasing the demand for effective
therapeutic options.
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Advancements in diagnostic techniques
have played a pivotal role in driving the market forward. Improved imaging
technologies, such as PET-CT scans and MRI, allow for more accurate and earlier
detection of mesothelioma. Early diagnosis is crucial for better treatment
outcomes, and this has led to increased demand for therapeutic interventions. The
global pharmaceutical and biotechnology industries have been actively investing
in research and development efforts to discover novel treatments for malignant
mesothelioma. This includes the development of targeted therapies,
immunotherapies, and combination treatments. These investments have expanded
the treatment options available to patients and have positively impacted the
market.
The emergence of targeted therapies has
transformed the landscape of malignant mesothelioma treatment. Drugs that
specifically target the molecular pathways involved in the progression of
mesothelioma have shown promise in clinical trials. These therapies offer the
potential for improved efficacy and fewer side effects compared to traditional
chemotherapy, driving patient and physician interest. Immunotherapy has emerged as
a revolutionary approach to treating various cancers, including malignant
mesothelioma. Checkpoint inhibitors and adoptive cell therapies are being
explored as potential treatment options. Immunotherapies have shown the ability
to harness the patient's own immune system to fight cancer, providing new hope
for mesothelioma patients.
The Global Malignant Mesothelioma Therapeutics Market
is segmented into drug type, route of administration, end user and company. Based on end user, the hospitals segment has emerged as the
predominant market leader. Hospitals offer a wide range of supportive care
services, including pain management, palliative care, and psychosocial support,
which are essential for improving the quality of life for malignant
mesothelioma patients. Based on region, North America segment is expected to
grow during the forecast period. North America's regulatory
agencies, such as the U.S. Food and Drug Administration (FDA) and Health
Canada, play a crucial role in expediting the approval process for new
mesothelioma treatments. Fast-track designations, priority reviews, and orphan
drug status are some of the regulatory incentives provided to pharmaceutical
companies, encouraging them to focus on developing therapies for rare diseases
like mesothelioma. This supportive regulatory environment fosters innovation
and accelerates the availability of new treatments to patients.
The Asia Pacific region is experiencing rapid market
growth. Patient advocacy groups in Asia Pacific have played a vital role in
raising awareness about malignant mesothelioma and advocating for better
treatment options. Their efforts have contributed to increased funding for
mesothelioma research and a greater focus on patient-centric care. The active
engagement of these groups has helped Asia Pacific maintain its leadership
position in the global market.
Major companies operating in Global Malignant
Mesothelioma Therapeutics Market are:
- Dr.
Reddy's Laboratories Ltd.
- Wellona
Pharmaceuticals pvt ltd.
- Bristol-Myers
Squibb Company
- Novocure
GmbH
- Eli
Lilly and Company
- Merck
Kgaa
- Manus
Aktteva Biopharma LLP
- Pfizer
inc.
- Ono
Pharmaceuticals Co., Ltd
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“The Global Malignant Mesothelioma Therapeutics Market
is witnessing significant growth, driven by a combination of factors. These
include an increasing incidence rate, advancements in diagnostic techniques,
ongoing research and development efforts, the emergence of targeted therapies
and immunotherapies, regulatory support, heightened patient awareness, and
collaborative partnerships. These market drivers collectively contribute to the
ongoing progress in the treatment of malignant mesothelioma, offering hope to
patients and their families.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Malignant Mesothelioma Therapeutics Market By Drug Type (Pemetrexed,
Cisplatin, Carboplatin, Gemcitabine, Vinorelbine, Others), By Route of
Administration (Oral, Parenteral),By End User End user (Hospitals, Cancer
Centers, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Malignant Mesothelioma Therapeutics
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Malignant
Mesothelioma Therapeutics Market.
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