Malignant Mesothelioma Market Report Overview
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The global malignant mesothelioma market size was USD 434.9 million in 2021. As per our research, the market is expected to reach USD 674.2 million in 2028, exhibiting a CAGR of 6.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the malignant mesothelioma market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Malignant mesothelioma is a rare and aggressive form of cancer that primarily affects the mesothelium, a thin layer of tissue that covers the majority of our internal organs. The disease is most commonly associated with exposure to asbestos, a mineral fiber that was once widely used in industries such as construction, shipbuilding, and manufacturing.
The market is expected to rise with a substantial growth rate during the forecast 2022-2028 due to the incidence and prevalence of the disease, advancements in diagnostic techniques, treatment options, and research and development efforts. Additionally, the market is bifurcated by type, by application, by regional expansion of the market. Based on the type of treatment, the market is split into oral and parenteral. While the hospital is the largest application.
COVID-19 Impact: Pandemic Delayed Diagnoses & Treatment due to Diverted Health Resources
The COVID-19 pandemic has had a notable impact on the market. Delays in diagnoses and treatments due to diverted healthcare resources, disruptions in clinical trials, supply chain challenges, the shift towards telemedicine, and the financial strains caused by the pandemic had all influenced the market. These factors affected patient care, access to treatments, and the development of new therapies, potentially impacting the market dynamics for malignant mesothelioma. However, industries have observed steady growth. Resulted, the market is expected to rebound in the coming years.
Latest Trends
"Trend of Immunotherapy Advancements Inflate the Market Scope"
The market for malignant mesothelioma is anticipated to grow with emerging trends and innovations that will shape up the market dynamic. Immunotherapy advancements are gaining traction, where immunotherapy, particularly immune checkpoint inhibitors, has shown promising results in the treatment of malignant mesothelioma. Ongoing research and clinical trials are exploring the efficacy of immunotherapeutic approaches, either as monotherapy or in combination with other treatments, to improve patient outcomes. Apart from this, targeted therapies and minimally invasive surgical techniques are also in the trend that will likely contribute to the malignant mesothelioma market growth throughout this forecast period.
Malignant Mesothelioma Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into oral and parenteral.
- By Application Analysis
Based on application, the market can be divided into hospital pharmacies, retail pharmacies, oncology centers, and others.
Driving Factors
"Increasing Incidence and Prevalence of the Disease Lift the Growth of the Market"
The major factor which drives the market growth is the increasing incidence and prevalence of the disease. Despite the declining use of asbestos, there is still a significant population at risk due to past exposures. The incidence of malignant mesothelioma continues to be a leading factor for the market, as the disease affects individuals exposed to asbestos several decades ago.
"Rising Development in Diagnostic Techniques Support the Market Progress"
Advancements in diagnostic techniques are the second most significant factor which aids to identify the disease initially through which it can be cured on time. Improvements in diagnostic methods, such as imaging technologies (e.g., CT scans, MRI) and biomarker testing, have enhanced the early detection and accurate diagnosis of malignant mesothelioma. These advancements drive the demand for diagnostic tools and services in the market.
Restraining Factors
"Limited Treatment Options Can Restrict the Market Expansion"
Malignant mesothelioma is a challenging cancer to treat, and the available treatment options are often limited. The lack of curative therapies and the limited efficacy of current treatments can restrain market growth, as it may lead to a sense of therapeutic nihilism among healthcare providers and patients.
Malignant Mesothelioma Market Regional Insights
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"North America Leads the Market due to Well-Established Healthcare Systems"
As per market research, North America has historically, had a high incidence of malignant mesothelioma due to past asbestos exposure in various industries. A country such as the U.S. has a well-established healthcare system, advanced diagnostic and treatment facilities, and a significant presence of pharmaceutical and biotechnology companies focused on developing therapies for the disease, aiding the region to dominate the market. In terms of market revenue, the region holds a significant malignant mesothelioma market share globally.
Key Industry Players
"Key Players Collaborate with Research Institute & Advocacy Groups to Expand their Market Presence "
With regard to key players, successful companies stimulate growth of the market through their research and development, product innovation, collaborations, marketing, and awareness campaigns, regulatory engagement, patient support programs, and market expansion efforts. They invest in R&D and develop innovative treatments and diagnostic tools. Also, they collaborate with research institutions and advocacy groups to raise awareness, engage with regulatory bodies, provide patient support, to expand their market presence. These initiatives allow key players to maintain their position with the highest revenue in the market.
List of Market Players Profiled
- AstraZeneca
- Bristol-Myers Squibb
- Roche
- Merck
- Novartis
- Pfizer
- Sanofi
- Eli Lilly
- Teva Pharmaceuticals
- Boehringer Ingelheim GmbH
- Mylan
- Fresenius Kabi
- Sun Pharmaceuticals
- Corden Pharma
- Concordia International
- Kyowa Hakko Kirin
- Polaris Pharmaceuticals
- MolMed
- Ono Pharmaceutical
- Nichi-Iko Pharmaceutical
Report Coverage
This report defines the malignant mesothelioma market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 434.9 Million in 2021 |
Market Size Value By |
US$ 674.2 Million by 2028 |
Growth Rate |
CAGR of 6% from 2021 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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1.What value is the global malignant mesothelioma market expected to touch by 2028?
The global malignant mesothelioma market is expected to touch USD 674.2 million by 2028.
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2.What CAGR is the malignant mesothelioma market expected to exhibit during 2022-2028?
The malignant mesothelioma market is expected to exhibit a CAGR of 6.0% over 2022-2028.
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3.What are the key driving factors of the market?
The driving factors of the market are the increasing incidence and prevalence of the disease and the growing advancement in diagnostic techniques.
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4.What are the key players in the market?
The key players in the market include: AstraZeneca, Bristol-Myers Squibb, Roche, Merck, Novartis, Pfizer, Sanofi, Eli Lilly, Teva Pharmaceuticals, Boehringer Ingelheim GmbH, Mylan, Fresenius Kabi, Sun Pharmaceuticals, Corden Pharma, Concordia International, Kyowa Hakko Kirin, Polaris Pharmaceuticals, MolMed, Ono Pharmaceutical, and Nichi-Iko Pharmaceutical are top players in the market.