In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSThe 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.
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.
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:
Our in-depth analysis of the global autosomal recessive familial adenomatous polyposis drugs market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing prevalence of colorectal cancer is the major factor driving the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2030.
High cost of treatment drugs is the major factor estimated to hamper the market growth.
High cost of treatment drugs is the major factor estimated to hamper the market growth.
The major players in the market are Bayer AG, Genentech, Inc., Ipsen Biopharmaceuticals, Inc., Regeneron Pharmaceuticals Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by polyps site, treatment, distribution channel, and by region.
The hospital segment is anticipated to hold the largest market size during the forecast period on the back of various complications which require immediate attention.
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