Demand for Cutaneous Mastocytosis Treatment to Surge with Notably Improving Early Diagnosis Rate, Finds PMR
According to the latest research study by Persistence Market Research, the global cutaneous mastocytosis treatment market
value is projected to exceed US$ 300 Mn by the end of 2026. The report
also projects significant growth potential for the cutaneous
mastocytosis treatment market throughout the forecast period, 2018-2026.
The
global diagnosis rate as well as treatment-seeking rate of cutaneous
mastocytosis is increasing rapidly, which is cited as a major factor
driving the growth of the cutaneous mastocytosis treatment market over
the forecast period.
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Increasing Awareness about Disease Symptoms Driving Demand Growth
Various
organizations are making an extended effort to spread awareness about
rare diseases such as cutaneous mastocytosis. The families of patients
are trying to spread information through various social platforms, and
support groups. Numerous advocacy groups are educating the general
population about cutaneous mastocytosisand its treatment options.
Many
controlled studies are being carried out to evaluate the actual
epidemiology of the disease in different parts of the world. After the
WHO updated the classification, diagnosis, and treatment approach in
2016, various countries implemented the same guidelines to improve
uniformity in the diagnostic and treatment approach.
Evaluation of Novel Drug Molecules Trending among Key Companies
Several
pharmaceutical manufacturers are planning to evaluate effectivity of
different molecules for the treatment of cutaneous mastocytosis. A few
manufacturers are already evaluating drug molecules for the treatment of
cutaneous mastocytosis, and a few are seeking approvals from regulatory
bodies for commencing clinical trials.
In
November 2018, GT Biopharma received FDA clearance for the human phase
study of First-in-Class Tri-Specific Killer Engager (TriKE), GTB-3550,
for the treatment of mastocytosis. Similarly, Corbus Pharmaceuticals
Holdings, Inc., a clinical phase company, is developing the drug JBT-101
for cutaneous mastocytosis treatment. That apart, various studies are
being carried out by different companies for the evaluation of the
effectivity of Masitinib (approved for Systemic Mastocytosis) for the
treatment of cutaneous mastocytosis.
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The
company has segmented the global cutaneous mastocytosis treatment
market based on drug class, route of administration, indication,
distribution channel, and region.
- In terms of revenue, the antihistamines segment by drug class in the cutaneous mastocytosis treatment market is expected to be the dominant segment over the forecast period.
- By route of administration, the oral segment in the cutaneous mastocytosis treatment market is expected to be the most lucrative segment during the forecast period.
- By indication, the maculopapular cutaneous mastocytosis segment in the cutaneous mastocytosis treatment market is expected to hold a significant share over the forecast period.
- By distribution channel, the retail pharmacies segment is expected to be the most lucrative segment in the cutaneous mastocytosis treatment market.
- By region, the North America cutaneous mastocytosis treatment market is among the most lucrative region in the global cutaneous mastocytosis treatment market.
Augmenting R&D Investments & Favorable Reimbursement Scenario Fueling Market Growth
Increasing
spending on the management of rare diseases by manufacturer as well as
patients is expected to fuel the growth of the cutaneous mastocytosis
treatment market. Growing research and increasing R&D funding are
expected to result in increased treatment options for cutaneous
mastocytosis in the coming years, driving the growth of the cutaneous
mastocytosis market. In 2016, 41.0% of new drugs approved by the FDA
were orphan drugs that treat rare diseases. The seven-year market
exclusivity, waive on millions of dollars in fees, as well as drug
development expenses further encourages manufacturers to invest highly
in rare diseases treatment market, which, in turn, is expected to drive
the growth of cutaneous mastocytosis treatment market.
A
favourable reimbursement scenario for rare disease treatment is further
expected to enhance revenue generation in cutaneous mastocytosis
treatment market. The patient pool affected by cutaneous mastocytosis is
children up to the age of 14 years - over 65% to 70% of total cases. In
countries such as the United Kingdom, there is close to 100%
reimbursement in most of cases for patients below 2 years of age, in
cases of rare diseases such as cutaneous mastocytosis. The National
Health Service (NHS) of the U.K. is undergoing substantial reforms for
further improvements.
The
report also profiles some of the key companies operating in the
cutaneous mastocytosis market, such as Bausch Health Companies Inc.,
Pfizer Inc., Merck & Co. Inc., Mylan NV, Teva Pharmaceutical
Industries Ltd., Sanofi S.A., Johnson & Johnson, Novartis AG, Bayer
AG, Mallinckrodt Pharmaceuticals, EPI Health, LLC, and Kaleo Inc.
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