Press Release

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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