Global Autosomal Recessive Familial Adenomatous Polyposis Drugs Market Highlights over 2020-2030
The global autosomal recessive familial adenomatous polyposis drugs market is estimated to garner a significant CAGR over the forecast period, i.e., 2021–2030. The growth of the market can be attributed to the growing cases of colorectal cancer, along with increasing prevalence of genetic disorders. According to the data by the World Health Organization (WHO), 935,000 deaths were caused by colorectal cancer in the year 2020. The risk of autosomal recessive FAP becoming cancer is 100%. Familial adenomatous polyposis or FAP causes numerous polyps in large intestine and rectum, which can be benign or malignant in nature. In case of autosomal recessive FAP, a milder sub-type of FAP, the gene MUTYH is mutated or altered in the individual, due to presence of faulty gene in both the parents. Autosomal recessive FAP can be controlled by regular monitoring and diagnosis using colonoscopy or sigmoidoscopy. However, its treatment is complicated, especially if the polyps are malignant. The cause of genetic mutation is still unknown, which is estimated to increase the research in this direction. Furthermore, rising investment in R&D activities to discover the cause, or develop novel drugs, is estimated to boost the market growth.
The global autosomal recessive FAP market is segmented by treatment into colectomy, genetic counselling, medication, surgery, and others, out of which, the surgery segment is anticipated to hold the largest share in the market during the forecast period owing to the success of this method in treating complicated cases, along with the popularity among masses, easy availability and faster results. Moreover, surgery can permanently alleviate the benign polyps. On the basis of distribution channel, the market is segmented into hospitals, specialty clinics, and others. Out of these, the hospitals segment is estimated to witness notable share over the forecast period on the back of growing patient pool of autosomal recessive FAP, along with various complications in this disease, which might require immediate attention.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Autosomal Recessive Familial Adenomatous Polyposis Drugs Market Regional Synopsis
Regionally, the global autosomal recessive familial adenomatous polyposis drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of increasing government funding in the medical R&D activities, combined with the presence of major pharmaceutical companies in the region. Moreover, advanced healthcare sector, along with high healthcare expenditure is estimated to boost the market growth in the region. According to the data by the World Bank, North America spent 16.416 % of its GDP on the healthcare sector, in the year 2018.
The market in the Asia Pacific is anticipated to grow at the highest CAGR over the forecast period owing to the growing number of patients of colorectal diseases, availability of new treatment methods, and rapidly improving health care infrastructure. Moreover, increasing geriatric population in countries, such as, India, and China, is estimated to further boost the market growth.
The global autosomal recessive familial adenomatous polyposis drugs market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global autosomal recessive familial adenomatous polyposis drugs market includes the following segments:
By Polyps Sites
- Duodenum
- Epithelium
- Others
By Treatment
- Colectomy
- Genetic Counselling
- Medication
- Surgery
- Others
By Distribution Channel
- Hospitals
- Specialty Centers
- Others
Growth Drivers
- Increasing Cases of Colorectal Diseases
- Growing Investment in Medical R&D Activities
Challenges
- High Costs of Drugs
- Stringent Government Norms for Drugs Development
Top Featured Companies Dominating the Market
- Bayer AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Astellas Pharma Inc.
- Novartis AG
- Pfizer Inc.
- Genentech, Inc.
- Ipsen Biopharmaceuticals, Inc.
- Regeneron Pharmaceuticals Inc.
- Eli Lilly and Company
- Teva Pharmaceutical Industries Ltd.
- Bristol-Myers Squibb Company
