Rising Demand for Early Diagnosis of T-cell Cancer Driving Folliculotropic Mycosis Fungoides Treatment Market: Fact MR
Recent approvals to novel drugs for the treatment of Folliculotropic Mycosis Fungoides by international organizations will aid the overall expansion of the market
Fact.MR’s latest study on global folliculotropic mycosis fungoides treatment market, rising incidence of zymosis fungoides among adults is surging the growth of folliculotropic zymosis fungoides treatment market.
According to the National Institute of Health (NIH), mycosis fungoides cases was found in more than 10 per million people, fuelling the demand for effective treatment. Adults aged 50 years or older are more vulnerable to the condition. Studies also suggest that men are more frequently affected by the condition than women.
Thanks to innovations in the field of biotechnology, early diagnosis of folliculotropic zymosis fungoides is possible. To push development in the field, international organizations such as the European Union have approved commercialization of POTELIGEO® (mogamulizumab) to Kyowa Kirin Co., Ltd. in Germany. Approvals by governments and international agencies will give tailwinds to the growth registered in the market.
In the report by Fact.MR, North America is predicted to lead the folliculotropic zymosis fungoides treatment market due to rising incidence correlated with T-cell cancer. Awareness regarding the treatments and speedy recovery is encouraging the patients to adopt the procedure.
“At a time when focus on early diagnosis consistently increasing, the market players are aiming at launching novel products in-built with latest technologies. Besides this, in order to gain competitive edge, they are entering into strategic collaborations,” said a lead analyst at Fact.MR
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- The U.S. dominates the folliculotropic zymosis fungoides treatment market on the back of its advance medical infrastructure, and impressive reimbursement policy system. 95% of the U.S. population has health insurances, escalating the growth of medical care treatments in the country.
- Over 2.7 million people in Europe were diagnosed with cancer in the year 2020 has resulted in high demand for cancer diagnostics, creating lucrative opportunity for market growth in Europe.
- China and India a comprise 30% of the global population and around half of the patients suffering from different types of cancers. This makes both countries attractive markets for Folliculotropic Mycosis Fungoides Treatment
- Growing expendable income and developing healthcare industry in Asia pacific region will provide a lucrative opportunity for market growth.
Key Driving Factors
- Rising investment in research areas to develop an effective treatment with progressive clinical studies are propelling the folliculotropic zymosis fungoides treatment market growth
- The soaring incidence of mycosis fungoides among adults will boost the demand for folliculotropic mycosis fungoides treatment worldwide.
- Large patient population with the frail immune system and rising cases of lymphoma cancer will escalate the growth of the market.
- High-cost of the treatments like chemotherapy, radiation therapy, and other photodynamic therapy is hampering the growth of the folliculotropic mycosis fungoides treatment market.
- Lack of awareness in the developing countries regarding the treatment is not prominent, thus, posing a challenge for key market players.
- The shortage of skilled professionals and the rising adverse effects associated with the treatment hinders the progress of folliculotropic mycosis fungoides treatment market.
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Kyowa Kirin Co. Ltd., Seattle Genetics, Inc., Takeda Pharmaceutical Company Ltd., Elorac, Celegene Corporation, Azurity Pharmaceuticals Inc., Eisai Co.Ltd., Actelion pharmaceuticals Ltd., Horizon Therapeutics plc., Soligenix, Merck & Co. Inc., Helsinn Healthcare SA. Key players are actively participating in acquisitions and collaborative agreements to maintain their position in the industry.
- Takeda Pharmaceutical Company Ltd. received approval from European Commission for ADCETRIS for Cutaneous T-Cell Lymphoma. This has boosted the company sales in 28 European member states.
- In January 2020, the Bioniz Therapeutics was acquired by Almirall to broad research agreement to further expand its pipeline in dermatology sector.
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