Neurofibromatosis is a genetic disorder that causes tumors to form on nerves throughout the body. Treatment drugs for neurofibromatosis help control tumor growth and relieve symptoms. These drugs provide more effective treatment options compared to surgery which may cause various side effects. The global Neurofibromatosis Treatment Drugs Market is estimated to be valued at US$ 2.3 billion in 2023 and is expected to exhibit a CAGR of 24.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising research and development activities for advanced drug development is one of the major trends being witnessed in the neurofibromatosis treatment drugs market. Large numbers of clinical trials are being conducted to test the efficacy and safety of various investigational drugs and combination therapies to treat neurofibromatosis. For instance, in March 2022, Amryt Pharma announced positive results from its phase 3 trial PERFECT, which evaluated Oleogel-S10 as a treatment for cutaneous neurofibromatosis. The results showed a statistically significant improvement in both moderate and severe neurofibromatosis lesions. Such positive clinical trial outcomes are encouraging pharmaceutical companies to invest more in neurofibromatosis drug R&D, which is expected to accelerate market growth over the forecast period.
Segment Analysis
Cancer treatment drugs market can be segmented based on type as chemotherapy drugs, targeted therapy drugs and others. Chemotherapy drugs segment currently dominates the neurofibromatosis treatment drugs market. Chemotherapy works by slowing or stopping the growth of cancer cells that grow, divide and spread too quickly. Some chemotherapy drugs can cure cancer while others may not cure it but can reduce its symptoms and delay disease progression of neurofibromatosis.
Key Takeaways
The global neurofibromatosis treatment drugs market is expected to witness high growth over the forecast period of 2023-2030.
Regional analysis: North America currently holds the major share in global neurofibromatosis treatment drugs market owing to growing prevalence of neurofibromatosis, rising awareness about the disease, presence of advanced healthcare infrastructure and high healthcare spending in the region. Asia Pacific is projected to be the fastest growing region due to improving healthcare facilities and increasing spending on healthcare in various Asian countries.
Key players operating in the neurofibromatosis treatment drugs market are AstraZeneca, Merck & Co., Novartis AG, and Pfizer Inc. AstraZeneca's Faslodex (fulvestrant) injection is a treatment for certain types of metastatic breast cancer. Novartis offers Afinitor (everolimus) tablets for use in treatment of certain disorders. Pfizer markets Afinitor for the treatment of neuroendocrine tumors.
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