According to The Business Research Company’s Desmoid Tumors Global Market Report 2024, The desmoid tumors market size has grown strongly in recent years. It will grow from $2.76 billion in 2023 to $2.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to advancements in medical imaging, genetic research and understanding, surgical innovations, awareness and education, patient advocacy.
The desmoid tumors market size is expected to see strong growth in the next few years. It will grow to $3.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to targeted therapies, personalized medicine, expanded international collaborations, regulatory approvals for novel therapies, patient-centric approaches. Major trends in the forecast period include advancements in treatment approaches, precision medicine and biomarker discovery, clinical trials and research initiatives, multidisciplinary treatment teams, patient advocacy and support.
The rising cases of cancer are expected to propel the growth of the desmoid tumor market going forward. Cancer refers to a collection of disorders that are defined by the body’s aberrant cells growing and spreading out of control. These cells can infiltrate nearby tissues and organs and cause harm. The rising cancer cases worldwide have fueled the demand for effective and advanced chemotherapeutic agents, positively influencing the desmoid tumor market. For instance, in January 2023, according to reports published by the American Cancer Society Inc., a US-based voluntary health organization, 1.8 million new cancer cases were diagnosed in the US in 2020, and 606,520 cancer fatalities. By 2021, it was projected that the number of new cancer cases diagnosed would rise to 1.9 million, and the number of cancer deaths would increase to 608,570. Therefore, the rising cases of cancer are driving the growth of the desmoid tumor market.
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The desmoid tumors market covered in this report is segmented –
1) By Treatment: Surgery, Radiation Therapy, Anti-Inflammatory Medication, Hormone Therapy, Chemotherapy, Novel Molecular-Targeted Therapy, Other Treatments
2) By Diagnosis: Biopsy, Electron Microscopic Examination, Immunohistochemical Analysis, Other Diagnosis
3) By End-User: Hospitals And Clinics, Specialty Centers, Other End-Users
Major companies operating in the desmoid tumors market are developing innovative drugs such as nirogacestat for the treatment of desmoid tumors to meet the needs of their existing consumers better. Nirogacestat is an oral, small-molecule gamma-secretase inhibitor. For instance, in February 2023, SpringWorks Therapeutics Inc., a US-based clinical-stage biopharmaceutical company, announced a U.S. Food and Drug Administration (FDA) acceptance and priority review of their new drug application (NDA) for nirogacestat for the treatment of adults with desmoid tumors. Nirogacestat is thought to work by blocking the production of notch proteins, which can lead to the death of tumor cells. Desmoid tumors produce high levels of notch protein, which is thought to contribute to their growth. Moreover, nirogacestat provides patients with a new treatment option that can potentially improve outcomes.
The desmoid tumors market report table of contents includes:
1. Executive Summary
2. Desmoid Tumors Market Characteristics
3. Desmoid Tumors Market Trends And Strategies
4. Desmoid Tumors Market – Macro Economic Scenario
………….
32. Global Desmoid Tumors Market Competitive Benchmarking
33. Global Desmoid Tumors Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Desmoid Tumors Market
35. Desmoid Tumors Market Future Outlook and Potential Analysis
36. Appendix
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