Global Malignant Mesothelioma Therapeutics Market - 2023-2030
The Global Malignant Mesothelioma Therapeutics Market reached US$ 259.3 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 512.7 million by 2030. The global malignant mesothelioma therapeutics is expected to exhibit a CAGR of 9.1% during the forecast period (2023-2030).
The main industry drivers, including the rise in malignant mesothelioma instances, rising cancer treatment awareness, expanding use of asbestos in a variety of industries, and expanding technical breakthroughs, are anticipated to support market expansion.
Over the projected period, the global malignant mesothelioma therapeutics market is expected to benefit from the availability of sophisticated treatments. Furthermore, the global market for malignant mesothelioma therapeutics is likely to be driven by asbestos in various products and sectors, which is a key cause of mesothelioma formation.
Market DynamicsIncreased Awareness Campaigns to Diagnose and Treat the Disease at an Earlier Stage will Drive the Market Growth
Malignant mesothelioma is becoming more common worldwide, necessitating increased awareness campaigns to diagnose and treat the disease at an earlier stage. Many groups are raising awareness about the condition and recommending that asbestos-exposed employees get frequent screenings for malignant mesothelioma, which can help prevent the disease from progressing to advanced stages. This increased awareness is projected to impact market growth overall positively.
Furthermore, rising tobacco and smoking consumption propel the malignant mesothelioma therapeutics market forward. The majority of firms in the global malignant mesothelioma market are working with organizations to explore the effects of combining numerous medications on malignant mesothelioma. Due to the scarcity of technique patents, numerous companies are conducting clinical studies focusing on various combination medications.
The Long Latency Period For Malignant Mesothelioma Is Likely To Hamper The Market Growth
A long latency period for malignant mesothelioma, a lack of disease-specific biomarkers in the early stages, and the development and approval of innovative devices for cancer treatment may slow the growth of the malignant mesothelioma therapeutics market throughout the projection period.
COVID-19 Impact AnalysisThe global market for malignant mesothelioma therapeutics has benefited from the COVID-19 outbreak. About the COVID-19 situation, several segments have seen an increase in drug demand. Pharmaceutical businesses in this industry have greatly improved their supply chain management, increased their R&D skills, and increased their manufacturing management and quality control investments.
Segment AnalysisPemetrexed Drug in Drug Class Segment will Dominate in the Market by Capturing 39.1% During the Forecast Period
The preference for combination medicines over monotherapy is one of the key factors that positively influence the Pemetrexed and combination drug type sector. Combination therapies, such as chemotherapy combined with radiation, targeted antibodies, cryotherapy, or other immunotherapies, are anticipated to expand the potential indications for various drugs.
These combination therapies aim to improve survival rates significantly, as evidenced by limited clinical data compared to only surgeries or radiation therapies. Several companies have discovered that multiple pathways in tumor regulation are affected, and as a result, they seek to use combination therapy as a more effective method. These factors are likely to boost the malignant mesothelioma therapeutics market.
Geographical AnalysisNorth America is the Dominating Region During the Forecast Period
In 2022, the United States is a key participant in this region, accounting for approximately 39.2% of the market. Because of increased awareness about risk factors and diagnostic procedures, the malignant mesothelioma market size in North America is growing faster than in other areas. Advanced healthcare infrastructure is also expected to drive and contribute to the growth of the malignant mesothelioma therapeutics market in North America.
Competitive LandscapeThe major global players include Dr. Reddy’s Laboratories, Wellona Pharmaceuticals, Bristol-Myers Squibb, Novocure, Eli Lilly and Company, Merck, Manus Aktteva Biopharma LLP, Pfizer and Ono Pharmaceuticals.
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Why Purchase the Report?• To visualize the global malignant mesothelioma therapeutics market segmentation based on the type, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of malignant mesothelioma therapeutics market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The malignant mesothelioma therapeutics market report would provide approximately 92 tables, 108 figures and 195 Pages.
Target Audience 2023• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies