Mitomycin Market Size, Share, Growth, and Industry Analysis by Type (2 mg, 10 mg, 20 mg, 40 mg, and Others) By Application (Cancer Treatment, Ophthalmic Use, and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

MITOMYCIN MARKET REPORT OVERVIEW

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The global mitomycin market size was USD 167.1 million in 2021 and is expected to touch USD 361.66 million in 2031, exhibiting a CAGR of 8.0% during the forecast period.

Mitomycin is a well-known antibiotic. It has been one of the most popular cancer treatments since it was approved by the FDA in 1974. It speeds up the chemotherapy process and, eventually, the complete treatment by blocking DNA synthesis. The global mitomycin market has experienced considerable growth in recent years. The enormous increase in cancer incidence around the world has greatly increased demand.

In some cases, Mitomycin C has been used topically rather than intravenously. Malignancies, notably bladder cancers and intraperitoneal tumors, are the first. It is now widely recognized that a single instillation of this medicine within 6 hours of bladder tumor resection can prevent recurrence. The second procedure uses mitomycin C 0.02 percent topically to reduce scarring after glaucoma filtering surgery and to reduce haze after PRK or LASIK; mitomycin C has also been shown to reduce fibrosis after strabismus surgery. The third is in esophageal and tracheal stenosis, where applying mitomycin C to the mucosa soon after dilatation reduces re-stenosis by reducing fibroblast and scar tissue development.

COVID-19 Impact: Supply Chain Disruption to Impede Market Progress

The global COVID-19 pandemic has been unprecedented and staggering, with mitomycin experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the mitomycin market growth and demand returning to pre-pandemic levels once the pandemic is over.

The delay is primarily because to the COVID-19 outbreak, which has resulted in the postponement of immunocompromised treatments. Because patients with stomach cancer are more susceptible to viral infections, especially after chemotherapy, stem cell transplants, or surgery, the market for gastric cancer medications is particularly vulnerable to interruption from the coronavirus pandemic. COVID-19 has caused gastric cancer drug clinical trials to be delayed and has resulted in poor gastric cancer drug usage. Production is also being suspended due to global lockdowns, which is producing supply chain concerns.

LATEST TRENDS

"Awareness Programs to Facilitate Industry Growth"

A number of eye cancer awareness projects have been launched in both developed and developing countries. Because retinoblastoma is a rare illness that predominantly affects children, World Retinoblastoma Awareness Week is planned and maintained by many NGOs throughout the world. Individuals are encouraged to seek appropriate treatment and testing for such disorders due to awareness efforts. This element is also likely to increase Mitomycin's market growth prospects.

MITOMYCIN MARKET SEGMENTATION

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• By Type Analysis

As per type, the market is classified into 2 mg, 10 mg, 20 mg, 40 mg, and Others.

The 2 mg segment is expected to lead the market with about 44% share in 2018. These factors are likely to facilitate industry growth. 

• By Application Analysis

Based on application, the market is categorized into Cancer Treatment, Ophthalmic Use, and Others.

The cancer treatment segment is expected to lead with 66% share in 2018. These factors are expected to fuel market growth.

DRIVING FACTORS

"New Technological Improvements to Facilitate Market Development"

The rising global prevalence of cancer has significantly boosted the need for mitomycin. Mitomycin offers an advantage over other treatment alternatives due to its low cost. Its popularity will continue to rise in the foreseeable future, attracting huge demand. Melanoma, colorectal cancer, prostate cancer, lung cancer, blood cancer, breast cancer, and a variety of ophthalmic treatments all benefit from mitomycin.

In recent years, the use of mitomycin in ophthalmology has expanded. Its ability to modulate wound healing has increased its use in ophthalmic medicine. Mitomycin is used to treat glaucoma surgery, pterygium surgery, corneal refractive surgery, conjunctival neoplasia, cicatricial eye illness, and allergic eye disease at the moment. Drug companies are making a lot of money off of the growing use of mitomycin in ophthalmic therapies.

"Awareness Campaign to Foster Industry Progress"

Glaucoma is becoming more common around the world, with an estimated 76 million individuals affected by the disease by 2020. Mitomycin is utilized during the earliest phases of trabeculectomy to minimize severe postoperative scarring and thereby reduce the chance of probable failure. Furthermore, several government-sponsored glaucoma awareness campaigns promote early diagnosis and treatment of ocular disorders. The World Glaucoma Association (WGA), for example, has launched a global campaign to raise awareness about glaucoma. These characteristics are projected to provide profitable prospects for large companies, as increased patient awareness will lead to higher therapy uptake rates.

RESTRAINING FACTORS

"Side Effects to Hinder Market Progress "

Because it produces delayed bone marrow toxicity, it is normally given at 6-weekly intervals. Long-term use can cause chronic bone marrow damage. It can also lead to fibrosis of the lungs and kidney disease. Flank pain, ureteric obstruction, haematuria, urinary tract infection, fatigue, renal dysfunction, abdominal pain, nausea, vomiting and dysuria are all common side effects.

MITOMYCIN MARKET REGIONAL INSIGHTS

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"Increasing Number of Cancer Patients to Propel Market Progress in North America"

North America is projected to dominate the mitomycin market share because of the huge number of cancer patients, the region has emerged as the leading user of this medicine. Mitomycin is also used extensively in Europe for similar reasons. These geographical markets are also benefiting from increased investment in cancer research.

Asia-Pacific is expected to hold the second-largest market shareholder because of it is quickly becoming a lucrative market in the region, with Japan becoming the world's leading provider of the medicine. Mitomycin production is also expanding in India, which is helping the mitomycin market. Leading manufacturers are concentrating their efforts on increasing their footprints in this area, which is predicted to grow in importance in the global market.

KEY INDUSTRY PLAYERS

"Incorporation of Research and Development Strategies to Improve their Brand Image"

The increasing acquisitions and partnerships amongst pharmaceutical medication developers will drive the expansion of the gastric cancer drugs market. Drug developers can reduce their research and R&D expenditures by forming partnerships and collaborations.

INDUSTRY DEVELOPMENT

• October 2020: Basilea Pharmaceutical Ltd and Eli Lilly and Company announced a clinical trial collaboration and supply agreement for ramucirumab in advanced gastric (stomach) treatment.

List of Market Players Profiled

• Kyowa-kirin (Japan)
• Intas Pharmaceuticals (India)
• Teva (Israel)
• Bristol-Myers Squibb (U.S.)
• Aspen (South Africa)
• Speciality European Pharma (U.K.)
• Alkem Laboratories (India)
• Varifarma (U.S.)
• APOGEPHA (Germany)

REPORT COVERAGE

The research begins with a summary of the global market for mitomycin. The executive summary contains key facts and figures about the global market. The next section of the research focuses on macroeconomic, demand, and supply drivers, restrictions, and major trends. The study includes an impact analysis of weighted average model-based growth drivers to provide clients with superior decision-making insights.