Desmoid Tumors Market

Desmoid Tumors Market Size (2023 to 2028)

The global desmoid tumors market is predicted to grow from USD 2710 million in 2023 to USD 3783 million by 2028, growing at a CAGR of 6.9% from 2023 to 2028.

MARKET DRIVERS:

The robust pipeline of novel drugs for desmoid tumors primarily drives the growth of the desmoid tumors market. The robust pipeline of novel drugs indicates that researchers and pharmaceutical companies are actively investing in finding an effective treatment for desmoid tumors as new drugs are developed and approved. Patients have access to more diverse and potentially more effective treatment options. The development of novel drugs offers improved efficacy which could lead to better control of tumor growth, reduced side effects and it also improved the quality of life for patients with desmoid tumors. The development of novel drugs leads to interaction with the regulatory authorities, which can expedite the availability of innovative therapies for patients.

The rapid adoption of technological advancements in desmoid tumor treatment further fuels the market’s growth rate. The advancements lead to improved diagnosis and treatment efficiency. Advanced imaging technologies such as MRI, CT-scans can provide more accurate and detailed information about the size, location, and characteristics of the desmoid tumors that help in better treatment planning and monitoring. The advancements also led to identifying specific molecular targets within the desmoid tumors.

The growing awareness about desmoid tumors among people and healthcare professionals contributes to the global market growth. The rising awareness leads to better recognition of desmoid tumor symptoms among patients and healthcare professionals. Also, the rising government funding can support research efforts to understand the causes of desmoid tumors, help in the development of new treatments, and improve existing therapies. The awareness campaign can empower patients and their families by providing information and resources, which leads to improving patient care and treatment decision-making, and proper diagnosis, this all factors contribute to the overall growth of the market during the forecast period. Factors such as the growing number of R&D activities around desmoid tumors and growing healthcare expenditure by the governments of various countries further propel the global market growth.

MARKET RESTRAINTS:

The high cost of desmoid tumor treatment drugs and the side effects associated with chemotherapy and other desmoid tumor drugs is one of the major obstacles to the growth rate of the desmoid tumors market. People are continuously taking medication and therapy treatments such as chemotherapy and radiation therapy, which risk developing long term side-effects. These side effects can happen a year after treatment which is anticipated to hamper the overall growth of the market. Developing the drug for the treatment of desmoid tumors involves substantial research and development expenses, which can contribute to rising the cost of drugs; high drug prices can create a barrier to access for patients, especially for low and middle-income countries and for those individuals who have adequate insurance coverage, which is another major factor hindering the global market growth. Side effects associated with the drugs have a significant impact on patients' quality of life, these side effects often include nausea, hair loss, fatigue, and weakened immune system, and such adverse effects can lead to poor patient compliance with treatment, hampers the global market growth.

Impact of COVID-19 on the desmoid tumors market:

The COVID-19 pandemic crisis has negatively impacted the global desmoid tumors market growth. The COVID-19 pandemic led to a high strain on the healthcare sector owing to the widespread of the novel coronavirus. The COVID-19 pandemic led to postponing and canceling many non-urgent medical procedures. This delay in medical care could have affected the diagnosis and the treatment of the desmoid tumors. Strict isolation and restriction slowed the research studies and clinical trials, which could have impacted the development of new treatments and therapies for desmoid tumors. The disruption in the supply chain during the COVID-19 pandemic has majorly hampered the availability of the necessary medication and treatment for desmoid tumor patients. The healthcare system globally was strained by the COVID-19 pandemic crisis, which led to the prioritization of resources and care. This might have impacted the access to specialized care and treatment for the desmoid tumor patient. The awareness campaign has been affected due to the strict social isolation conditions during the COVID-19 pandemic.

REPORT COVERAGE:

This research report on the global desmoid tumors market has been segmented and sub-segmented based on the following categories.

Desmoid Tumors Market – By Drug Type:

• Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
• Targeted Therapy
• Chemotherapy
• Hormone Therapy
• Others

The chemotherapy segment was the largest in the global market in 2022 and is anticipated to continue dominating the market during the forecast period. The growing cancer patient population worldwide ad increasing preference for chemotherapy as a treatment option majorly drive the growth of the chemotherapy segment in the worldwide market.

The non-steroidal anti-inflammatory drugs (NSAIDs) segment is anticipated to account for a substantial share of the global desmoid tumors market during the forecast period. These drugs can reduce pain and inflammation, and desmoid tumors can cause discomfort and pain due to their location and size. These drugs help to alleviate these symptoms and help improve the quality of life for patients and give relief.

Desmoid Tumors Market – By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Based on the distribution channel, the online pharmacies segment is estimated to account for the major share of the worldwide market during the forecast period. The COVID-19 pandemic situation strengthened the digital commerce platform, and this has resulted in the increased adoption of online pharmacies for various medical needs. This trend is likely to continue in the coming years and propel the segmental growth.

The hospital segment is another major segment among all and is expected to account for a considerable share of the global market during the forecast period owing to the growing demand for drugs for treatment and the increasing patient population visiting hospitals for treatment needs.

Desmoid Tumors Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America is the largest regional segment in the global desmoid tumors market and is expected to continue the leading position in the worldwide market throughout the forecast period. Factors such as the rising healthcare expenditure, rapid adoption of technological advancements, growing awareness and rising prevalence of desmoid tumors in North America drive the North American market growth. Technological advancements in imaging, such as MRI and CT scans, have enhanced the ability to detect and locate desmoid tumors. The U.S. is expected to hold the major share of the North American market during the forecast period owing to the increasing aging population, rapid adoption of sedentary lifestyles, environmental exposures and increasing patient population of desmoid tumors.

Europe is another noteworthy regional market for desmoid tumors and is estimated to hold a substantial share of the worldwide market during the forecast period. The growing healthcare expenditure, the presence of robust healthcare systems, improved access to specialized care, collaboration among European countries in medical research and rising emphasis on rare disease research and orphan drug development majorly propel the growth of the desmoid tumors market in Europe.

The Asia-Pacific region is expected to witness the fastest CAGR in the global market during the forecast period. The growing patient population, growing healthcare investments and infrastructure development and increasing awareness of rare diseases and access to healthcare primarily drive the growth of the desmoid tumors market in the Asia-Pacific region.

KEY MARKET PLAYERS:

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 led Pharmaceuticals, SpringWorks Therapeutics, Inc., Iterion Therapeutics, Novartis AG, Apotex Inc., Bayer AG and Sun Pharmaceutical are some of the major players in the global desmoid tumors market.

RECENT DEVELOPMENTS IN THE MARKET:

• In May 2022, Positive topline results from the double-blind placebo-controlled phase 3 DeFi trial (NCT03785964), which examined the use of nirogacestat as a therapy for adult patients with progressive desmoid tumors, were released by clinical-stage biopharmaceutical startup SpringWorks Therapeutics.
• In September 2022, according to an announcement by Ayala Pharmaceuticals, AL102 has been given a fast-track designation by the US Food and Drug Administration for the treatment of patients with developing desmoid tumours.