According to the report by Expert Market Research (EMR), the global malignant mesothelioma therapeutics market is projected to grow at a CAGR of 7.5% between 2024 and 2032. Aided by the rising incidence of malignant mesothelioma and the advancements in medical science, the market is expected to grow significantly by 2032.
Malignant mesothelioma is a rare, aggressive form of cancer primarily caused by prolonged exposure to asbestos. It affects the thin layer of tissue lining the major organs, especially the lungs. The complexity and rarity of this cancer make its treatment exceptionally challenging, leading to a substantial demand for effective therapeutics. Over the years, significant strides in research have yielded a diverse range of treatment modalities ranging from surgery, chemotherapy to targeted radiation therapies.
A pivotal factor boosting the malignant mesothelioma therapeutics market demand is the global surge in the number of mesothelioma cases. Historically linked to occupational exposure to asbestos, many industries utilised this mineral for its heat resistance and insulation properties. Workers, unaware of the health risks, experienced prolonged exposure. While the use of asbestos has declined in many countries, the latency period of mesothelioma, which can be several decades, results in new diagnoses stemming from past exposures.
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Moreover, the positive impact posed on the malignant mesothelioma therapeutics market outlook is also attributed to advancements in medical science. Personalised therapies, driven by genetic profiling of the tumour, offer a beacon of hope for many patients. These targeted treatments, designed to specifically attack cancer cells based on their genetic makeup, are heralded as the future of mesothelioma therapy. This shift towards precision medicine not only augments the effectiveness of treatment but also minimises adverse side effects.
As per the malignant mesothelioma therapeutics market analysis, another layer to the expanding therapeutic landscape is the integration of multidisciplinary care. The complexity of mesothelioma necessitates a comprehensive treatment approach, combining surgery, radiation, and chemotherapy. This integrated method, where patients receive care from a team of specialists, has significantly improved the prognosis and quality of life for many affected individuals.
Parallelly, the pharmaceutical sector has been playing a pivotal role in driving the market. Investments in clinical trials and research & development activities have resulted in the advent of novel drugs and treatment modalities. Immune checkpoint inhibitors, for instance, are gaining traction as potential game-changers in the treatment of mesothelioma.
Regionally, North America accounts for a significant portion of the malignant mesothelioma therapeutics market share, owing to its advanced healthcare infrastructure and substantial investments in research and development. Europe follows closely with its stringent regulations against asbestos usage and robust healthcare systems. The Asia-Pacific region, with emerging economies and a history of asbestos usage, presents a growing market, further bolstered by increasing healthcare expenditures and awareness.
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Malignant Mesothelioma Therapeutics Market Segmentation
The market can be divided based on application, product, and region.
Market Breakup by Application
- Hospital Pharmacies
- Retail Pharmacies
- Oncology Centres
- Others
Market Breakup by Product
- Chemotherapy
- Other Therapeutics
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global malignant mesothelioma therapeutics market. Some of the major players explored in the report by Expert Market Research are as follows:
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- Hoffmann-La Roche Ltd
- Merck and Co., Inc.
- Pfizer Inc.
- Others
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