Nimotuzumab Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global nimotuzumab market is anticipated to grow at a considerable CAGR of 2.2% during the forecast period (2022-2028). Nimotuzumab is a humanized monoclonal antibody drug with an orphan status that is used in the treatment of several types of cancer including stomach cancer, neck & head cancer, glioma, and others. The major factor attributing to the growth of the global nimotuzumab market includes the rising prevalence of stomach cancer. According to the American Cancer Society (ACS), it has been estimated that around 22,380 new stomach cancer cases will be diagnosed in the US alone in 2022. An estimated number of mortality due to stomach cancer will be around 11,090 in the US in 2022. Among these, around 6,690 will be men, and around 4,400 will be women.

In addition, increasing cases of colon & rectal cancer across the globe are also boosting the demand for nimotuzumab for their treatment. According to the American Society of Clinical Oncology (ASCO), colon & rectal cancer often called colorectal cancer is the third major cancer diagnosed globally. Around 1.8 million people were diagnosed with colorectal cancer across the globe in 2020. Among these, around 1.1 million cases diagnosed were of colon cancer, and around 7,32,210 cases diagnosed were with rectal cancer. Furthermore, the increasing application of nimotuzumab in the treatment of the rising prevalence of head & neck cancer is also driving the market. According to the American Society of Clinical Oncology (ASCO), around 4% of all cancer cases diagnosed in the US are head & neck cancer which accounts for 66,630 cases in 2021. Thus, contributing to the growth of the market.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in December 2021, the Health and Protection Minister of Colombia included BioCubaFarma's monoclonal antibody called nimotuzumab in its domestic beneficial plan allowing doctors to prescribe nimotuzumab to adult patients with glioblastoma, astrocytoma, and children with glioma, esophageal, and pancreatic cancer.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Application
•By Distribution Channel
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Johnson & Johnson Pvt. Ltd., F. Hoffmann-La Roche Ltd., Amgen Inc., GlaxoSmithKline plc, and Hengrui USA, among others.

A full report Nimotuzumab Market of is available at:  https://orionmarketreports.com/nimotuzumab-market/104009/

Global Nimotuzumab Market Report by Segment
By Application
•Stomach Cancer
•Head & Neck Cancer
•Glioma
•Colon & Rectal Cancer
By Distribution Channel
•Hospital Pharmacies
•Retail Drug Stores

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.