Research Nester published a report titled “Autosomal Recessive Familial Adenomatous Polyposis Drugs Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global autosomal recessive familial adenomatous polyposis drugs market in terms of market segmentation by polyps site, treatment, distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global autosomal recessive familial adenomatous polyposis drugs market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2030. On the basis of treatment, the market is segmented into colectomy, genetic counselling, medication, surgery, and others, out of which, the surgery segment is anticipated to gain the leading share over the forecast period. This can be attributed to the high success rate of surgery in removing benign polyps. Furthermore, the easy availability, and faster results from this method, are estimated to boost the segment growth. On the basis of distribution channel, the market is segmented into hospitals, specialty clinics, and others, out of which, the hospital segment is estimated to attain notable growth on the back of increasing patient pool and presence of various specialists for consultation.
The market growth can be attributed to the increasing awareness among masses about colorectal cancer, along with its growing incidences. As per the data by the World Health Organization (WHO), colorectal cancer is the third most deadly cancer, causing over 935,000 deaths in 2020. Moreover, the growing cases of genetic mutation in the MUTYH gene, which is caused when both parents have altered gene, is estimated to boost the market growth. Additionally, increasing investment in medical R&D activities for development of new drugs, is estimated to boost the market growth.
Regionally, the global autosomal recessive familial adenomatous polyposis drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America is anticipated to hold the largest share over the forecast period owing to the high government funding and investment in the medical R&D activities, backed by growing demand for effective treatment methods to treat autosomal recessive familial adenomatous polyposis. Moreover, presence of major pharmaceutical companies in the region, along with advanced healthcare sector and increasing healthcare expenditure is estimated to boost the growth of the regional market. As per the statistics by the World Bank, 16.416 % of the GDP of North America was used for expanding the healthcare sector, in the year 2018. The market in the Asia Pacific region is foreseen to gain the highest CAGR over the forecast period owing to the rising patient pool of colorectal diseases, backed by increasing geriatric population in countries, such as, India, and China. Moreover, growing healthcare infrastructure, supported by the economic development is estimated to further boost the market growth.
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Increasing Awareness Regarding Colorectal Cancer to boost the Market Growth
Autosomal recessive familial adenomatous polyposis or autosomal recessive FAP creates hundreds of polyps in the intestinal and rectum area, which can also spread to stomach, liver and even thyroid. These polyps can be malignant or benign, which however, turn into cancerous tumors after 40 years of age. The chance of colorectal cancer is 100% for an individual suffering with autosomal recessive FAP. The increasing awareness about the treatment of colorectal cancer, is estimated to boost the market growth.
However, high costs of drugs are expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global autosomal recessive familial adenomatous polyposis drugs market which includes company profiling of Bayer AG, Astellas Pharma Inc., Novartis AG, Pfizer Inc., Genentech, Inc., Ipsen Biopharmaceuticals, Inc., Regeneron Pharmaceuticals Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., and Bristol-Myers Squibb Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global autosomal recessive familial adenomatous polyposis drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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