SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global neurofibromatosis treatment drugs market is estimated to be valued at US$ 8,801.0 million in 2020 and is expected to exhibit a CAGR of 13.4% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Neurofibromatosis Treatment Drugs Market:
Alliances among key player such as joint forum, site partnerships for clinical studies are facilitating the market growth. On April 30, 2020, Massachusetts General Hospital U.S. and Pfizer collaboratively initiated phase 2 clinical study on tanezumab in subjects with moderate to severe pain due to Schwannomatosis. (Schwannomatosis is an extremely rare genetic disorder closely related to the more-common disorder neurofibromatosis (NF)).
The pediatric population is one of the most vulnerable population groups for neurofibromatosis, and other rare diseases that result in substantial economic and productivity loss across the world. Increasing demand for new treatments has created an opportunity for player to develop novel treatment approaches. Moreover, approvals of neurofibromatosis treatment drugs are expected to contribute to the growth of the global neurofibromatosis treatment drugs market. For instance, in April 2020, AstraZeneca Pharmaceuticals received the U.S. FDA’s approval for its Koselugo (selumetinib) for treatment of pediatric patients, 2 years of age and older, with neurofibromatosis type 1 (NF1).
Increasing focus of pharma and biotech companies on research and development of novel treatment drugs for neurofibromatosis is expected to drive the global neurofibromatosis treatment drugs market growth during the forecast period. For instance, on July 8, 2020, Nobelpharma initiated phase 3 clinical trial study to evaluate the safety and efficacy of long-term treatment with NPC-12G gel for patients with neurofibromatosis type I. The study is estimated to complete on April 30, 2022.
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Key Market Takeaways:
The global neurofibromatosis treatment drugs market is expected to exhibit a CAGR of 13.4% during the forecast period, as increasing trend of outsourcing the drug development for use by pharmaceutical and biotech companies to clinical research organization provides independent product development solutions and services for the pharmaceutical, biotechnology, and medical device industries.
Among regions, Asia Pacific is expected to witness significant growth in the global neurofibromatosis treatment drugs market during the forecast period owing to presence of major players such as Hutchison Medipharma Limited (Chi- Med). In January 2020, Hutchison Medipharma Limited announced that its SANET-p Study, a phase III study for Surufatinib achieved its primary end-point in the treatment of low-grade or intermediate-grade advanced pancreatic neuroendocrine tumor patients. This positive result for Surufatinib (SANET-p) study is expected to introduce prominent treatment options for the patients with pancreatic neuroendocrine tumor. Patients with neurofibromatosis-1 (NF-1) sometime develop neuroendocrine tumors (NET).
Key player operating in the global neurofibromatosis treatment drugs market is AstraZeneca Plc.
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Market Segmentation:
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Global Neurofibromatosis treatment drugs market, By Disease Type:
- Neurofibromatosis 1 (NF1)
- Neurofibromatosis 2 (NF2)
- Schwannomatosis
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Global Neurofibromatosis treatment drugs market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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Global Neurofibromatosis treatment drugs market , By Region:
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North America
- U.S.
- Canada
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Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
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Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
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Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
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Middle East
- GCC
- Israel
- Rest of Middle East
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Africa
- South Africa
- Central Africa
- North Africa
-
North America
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