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Mycosis Fungoides Treatment Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033
Mycosis Fungoides Treatment Market Growth
According to The Business Research Company's, The mycosis fungoides treatment market size has grown strongly in recent years. It will grow from $0.91 billion in 2023 to $0.97 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increased incidences of immune system dysfunction, inflating utilization of efficacious therapeutics, widespread adoption of phototherapy, rise in usage of radiation therapy, and the increased popularity of supportive care measures.
The mycosis fungoides treatment market size is expected to see strong growth in the next few years. It will grow to $1.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to advancements in healthcare infrastructure, increasing patient population, and increase in prevalence of mycosis fungoides due to unhygienic lifestyles. Major trends in the forecast period include technological advancements in treatment associated with chemotherapy, a rise in demand for monoclonal antibodies as first-line therapy, the launch of new advanced products, and increasing investment in research and development.
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Market Drivers and Trends:
The rise in lymphoma cancer incidence is expected to propel the growth of the mycosis fungoides treatment market going forward. Lymphoma refers to a cancer of the lymphatic system, which includes the lymph nodes, spleen, thymus gland, and bone marrow. Lymphoma cancer incidence is on the rise due to a combination of various factors, including environmental exposures, increasing viral infections, an aging population, and several lifestyle factors. Mycosis fungoides treatments, such as topical corticosteroids, phototherapy, and systemic therapies, are used in managing cutaneous T-cell lymphomas. These therapies aim to control skin lesions, reduce symptoms, and manage disease progression in lymphoma patients. For instance, in January 2024, according to the American Cancer Society, a US-based non-profit organization, non-Hodgkin lymphoma (NHL) was one of the most common cancers in the United States, accounting for about 4% of all cancers. It was estimated that approximately 80,620 people (44,590 males and 36,030 females) would be diagnosed with NHL, and about 20,140 people (11,780 males and 8,360 females) would die from this cancer in 2024. Therefore, the rise in lymphoma cancer incidence is driving the growth of the mycosis fungoides treatment market.
Major companies operating in the mycosis fungoides treatment market are developing advanced therapies, such as CAR T cell therapy, to enhance the efficacy and specificity of treatments. CAR T cell therapy, or chimeric antigen receptor T cell therapy, is a type of immunotherapy that involves genetically engineering a patient's own T cells to better recognize and attack cancer cells, including those associated with mycosis fungoides. For instance, in September 2022, CRISPR Therapeutics AG, a Switzerland-based biotechnology company, announced that the U.S. Food and Drug Administration (FDA) granted Regenerative Medicine Advanced Therapy (RMAT) designation to CTX130, the company's wholly-owned allogeneic CAR T cell therapy targeting CD70, for treating Mycosis Fungoides and Sézary Syndrome (MF or SS). This designation is a significant milestone for the CTX130 program, recognizing the transformative potential of this cell therapy in patients with T-cell lymphomas based on promising clinical data. The RMAT designation is part of a dedicated program established under the 21st Century Cures Act to expedite drug development and review processes for genetic therapies intended to treat serious or life-threatening diseases.
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Major Key Players of the Market:
Pfizer Inc., Merck & Co. Inc., Bristol Myers Squibb, Abbott Laboratories, Novartis AG, GlaxoSmithKline plc, Tocris Bioscience, Viatris Inc., Astellas Pharma Inc., Daiichi Sankyo Company, Takeda Pharmaceutical Company Limited, Bausch Health, Eisai Co. Ltd., Horizon Therapeutics plc, Varian Medical Systems, Kyowa Kirin Co. Ltd., Seattle Genetics Inc., Azurity Pharmaceuticals Inc., Innate Pharma S.A., Helsinn Therapeutics, Jubilant Cadista Pharmaceuticals Inc., Elorac Inc., Soligenix Inc., Ceptaris Therapeutics Inc.
Mycosis Fungoides Treatment Market 2024 Key Insights:
• The mycosis fungoides treatment market size is expected to see strong growth in the next few years. It will grow to $1.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Increasing Lymphoma Cancer Incidence Fuels Growth Of The Mycosis Fungoides Treatment Market
• Advanced Therapies In Mycosis Fungoides Treatment
• North America was the largest region in the mycosis fungoides treatment market in 2023
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