Global Desmoid Tumors Market to Surpass US$ 4,375.6 Million by 2030, Says Coherent Market Insights (CMI)
Burlingame, Feb. 08, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global desmoid tumors market is estimated to be valued at US$ 2,494.1 million in 2022 and is expected to exhibit a CAGR of 7.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Desmoid Tumors Market:
Market players are focused on adoption of inorganic growth strategies such as collaborations to spread awareness regarding the disease which is expected to propel the growth of desmoid tumor market. For instance, in September 2020, SpringWorks Therapeutics, a clinical-stage biopharmaceutical company, announced a collaboration with the Children’s Oncology Group (COG) to evaluate nirogacestat, an investigational gamma secretase inhibitor, in a Phase 2 clinical trial for the treatment of children and adolescents with progressive, surgically unresectable desmoid tumors. Children’s Oncology Group (COG) is a member of the NCI National Clinical Trials Network (NCTN), an organization devoted to childhood and adolescent cancer research.
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Key Market Takeaways:
The global desmoid tumors market is expected to exhibit a CAGR of 7.3% during the forecast period due to increasing initiatives for raising awareness of rare diseases. For instance, in November 2018, in Asia Pacific Economic Cooperation (APEC) CEO summit 2018, the APEC LSIF Rare Disease Network announced the official launch of a rare disease action plan to provide APEC economic with a framework for policy action to tackle the challenges of rare diseases, which includes raising public awareness about rare diseases, better use of technology to enhance the use of data in clinical decision making for the treatment.
Based on drug type, others segment is expected to exhibit highest CAGR over the forecast period, owing to increasing research and development activities by the key players for developing drugs and vaccines. For instance, in November 2018, in November 2018, SpringWorks Therapeutics, announced that the U.S. Food and Drug Administration (FDA) had granted Fast Track designation for nirogacestat, an investigational, oral, small molecule, selective
Among Region, North America is expected to hold a dominant position over the forecast period, owing to increasing initiatives by the key players in the region to raise awareness about desmoid tumors is expected to drive the market growth. For instance, in September 2022, SpringWorks Therapeutics, a clinical-stage biopharmaceutical company, launched a new disease state education campaign at DesmoidTumors.com, with the campaign launch, the company aims to improve awareness of the often misunderstood and misdiagnosed desmoid tumor.
Key players operating in the global desmoid tumors market include Horizon Therapeutics Plc, Strides Pharma Science Limited, Teva Pharmaceutical Industries Ltd., Amneal Pharmaceuticals LLC, Hikma Pharmaceuticals PLC, Natco Pharma Ltd, Lupin, Zydus Lifesciences, Mylan N.V., Assertio Holdings, Inc., Mayne Pharma Group Limited, Alembic Pharmaceuticals Limited, Aprazer, Ayala Pharmaceuticals, SpringWorks Therapeutics, Inc., Iterion Therapeutics, Novartis AG, Apotex Inc., Bayer AG., Sun Pharmaceutical Industries Ltd, Dr. Reddy’s Laboratories Ltd., Endo International plc, Abbott, and Getwell Pharmaceuticals
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Global Desmoid Tumors Market, By Drug Type:
Non-steroidal anti-inflammatory drugs (NSAIDs)
Global Desmoid Tumors Market, By Distribution Channel :
Global Desmoid Tumors Market, By Region:
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
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