Exploring Key Insights of the Desmoid Tumors Market: Growth Prospects, Emerging Trends, and Opportunities
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How has the desmoid tumors market size evolved in recent years?
The market size for desmoid tumors has seen significant growth in recent years. The market will expand from a value of $2.97 billion in 2024 to a projected value of $3.18 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. The historical growth can be linked to improvements in medical imaging, progress in genetic research, advancements in surgical methods, increased awareness and education, and patient advocacy.
What are the predictions for the devops automation tools market size in the coming years?
The market for desmoid tumors is expected to witness robust growth in the forthcoming years, expanding to $4.13 billion in 2029 with a CAGR of 6.8%. This growth during the prediction span can be ascribed to factors such as targeted therapies, personalized medicine, enlarged international cooperation, regulatory endorsements for new therapies, as well as patient-focused approaches. Significant trends anticipated within the forecast era encompass advancements in treatment methodologies, precision medicine and discovery of biomarkers, clinical investigations and research initiatives, multidisciplinary therapy teams, along with patient advocacy and assistance.
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What key factors are fueling the growth of the desmoid tumors market?
The increase in cancer incidences is anticipated to bolster the desmoid tumor market’s expansion. Cancer encompasses a group of diseases characterized by uncontrolled growth and spread of abnormal cells. These cells can infiltrate surrounding tissues and organs, leading to damage. The global surge in cancer cases enhances the demand for sophisticated chemotherapy drugs, positively impacting the desmoid tumor market. To illustrate, the National Cancer Institute, a US federal government agency, projected that around 2,001,140 new instances of cancer would be diagnosed in the U.S. in May 2024 with about 611,720 ensuing deaths. In 2022, nearly 20 million new cases and 9.7 million cancer-related deaths were recorded worldwide. By 2040, annual new cancer cases are projected to reach 29.9 million, with cancer-associated deaths totaling 15.3 million. Consequently, the surging cancer incidences are propelling growth in the desmoid tumor market. The desmoid tumor market’s growth is predicted to be fueled by increasing government-funded research and development. This funding, provided by a government for a specific purpose, is instrumental in moving forward tumor research and treatment efforts. Funds go towards scientific research, medical facilities, and patient access to care, thereby enhancing cancer prevention, diagnostics, and patient results. For example, in September 2023, the National Cancer Institute in the U.S. was provided with a $7.3 billion budget for the 2023 fiscal year for the Cancer Moonshot, marking a $408 million hike from 2022. This escalating investment from the government in research and development is driving the growth of the desmoid tumor market.
How is the global desmoid tumors market divided into key segments?
The desmoid tumors market covered in this report is segmented –
1) By Treatment: Surgery, Radiation Therapy, Anti-Inflammatory Medication, Hormone Therapy, Chemotherapy, Novel Molecular-Targeted Therapy, Other Treatments
2) By Diagnosis: Biopsy, Electron Microscopic Examination, Immunohistochemical Analysis, Other Diagnosis
3) By End-User: Hospitals And Clinics, Specialty Centers, Other End-Users
Subsegments:
1) By Surgery: Wide Excision, Minimally Invasive Surgery
2) By Radiation Therapy: External Beam Radiation Therapy, Stereotactic Body Radiation Therapy
3) By Anti-Inflammatory Medication: Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroids
4) By Hormone Therapy: Selective Estrogen Receptor Modulators (SERMs), Aromatase Inhibitors
5) By Chemotherapy: Traditional Chemotherapy Agents, Combination Chemotherapy
6) By Novel Molecular-Targeted Therapy: Tyrosine Kinase Inhibitors, Other Targeted Therapies
7) By Other Treatments: Watchful Waiting, Physical Therapy, Pain Management Strategies
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Who are the key firms paving the way for growth in the desmoid tumors market?
Major companies operating in the desmoid tumors market report are Pfizer Inc., F.Hoffmann-La Roche Ltd., AbbVie Inc., Bayer AG, Novartis AG, Abbott Laboratories, Amgen Inc., Stryker Corporation, Genome And Company, Vertex Pharmaceuticals Incorporated, Eisai Limited, Beckman Coulter Inc., Incyte Corporation, Ipsen Biopharmaceuticals Inc., BeiGene Ltd., Janssen Biotech Inc., Ionis Pharmaceuticals Inc., Ayala Pharmaceuticals Inc., Blueprint Medicines Corporation, Xencor Inc., MacroGenics Inc., Debiopharm Group, Clovis Oncology Inc., Juno Therapeutics Inc., SpringWorks Therapeutics Inc., Loxo Oncology Inc., Mirati Therapeutics Inc., Iterion Therapeutics Inc., Recepta Pharmaceuticals Inc., Cellestia Biotech AG
Which trends are expected to transform the desmoid tumors market?
Leading businesses in the desmoid tumors market are striving to better serve their current customers by creating innovative medicines like nirogacestat. This small-molecule gamma-secretase inhibitor is taken orally. SpringWorks Therapeutics Inc., an American clinical-stage biopharmaceutical organization, in February 2023, revealed that their new drug application (NDA) for nirogacestat, aimed at treating adults with desmoid tumors, was both accepted and prioritized for review by the U.S. Food and Drug Administration (FDA). It’s believed that nirogacestat functions by hindering the creation of notch proteins, eventually causing tumor cells to die. Desmoid tumors are known to generate high quantities of notch protein, which is thought to stimulate their growth. Furthermore, nirogacestat offers a fresh treatment alternative which could potentially enhance patient outcomes.
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What regions are contributing significantly to the growth of the desmoid tumors market?
North America was the largest region in the desmoid tumors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the desmoid tumors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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