In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
· September, 2020: Cancer Prevention Pharmaceuticals submitted a new Drug Application to the U.S. Food and Drug Administration (FDA) for CPP-1X/sul for treating familial adenomatous polyposis (FAP) among adults.
The classic familial adenomatous polyposis (FAP) drugs market is estimated to garner a large revenue by growing at a modest CAGR over the forecast period, i.e., 2021 – 2030. The growth of the market can be attributed to factors such as the increasing prevalence of colorectal cancer in the world, a personal history of colorectal diseases or polyposis, and growing cases of inherited disorders that heighten the risk of classic FAP. Colorectal cancer is one of the most commonly occurring cancer in the world. In 2018, it was calculated that approximately 1.9 million people globally suffered from the disease. Additionally, excessive intake of tobacco, unhealthy diet and low indulgence in physical activities are considered to be the main causes of FAP. The incidences of sedentary lifestyle are witnessing a notable hike since the last decade, which in turn is expected to drive market growth in the coming years.
The market is segmented by drug type into monotherapy drugs and combination therapy drugs, out of which, the segment for monotherapy drugs is anticipated to hold the largest share in the classic familial adenomatous polyposis drugs market during the forecast period on account of their lesser number of adverse effects, reduced treatment costs, better tolerability and enhanced compliance with treatment. Moreover, on the basis of distribution channel, the hospital pharmacy segment is projected to occupy a significant market share in the near future, which can be credited to the increased interaction of prescribers and health professionals in hospitals, improved access to medical records of patients and better input in making effective prescribing decisions about drugs. CLICK TO DOWNLOAD SAMPLE REPORT
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.
On the basis of geographical analysis, the classic familial adenomatous polyposis drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the North America region is estimated to grab the largest market share over the forecast period on the back of high spending in the healthcare sector, growing occurrence of the disease in the United States and ongoing technological advancements to develop effective cure for colorectal disorders. It is evaluated that FAP affects more than 49, 000 families in the United States. FAP occurs in approximately 1 in every 7000 to 10000 individuals in the country. Furthermore, strong presence of major pharmaceutical companies is also evaluated to drive market growth in the region. Similarly, Europe’s market is also assessed to gather a large market share owing to the growing investments of key players for drug development in the region.
The classic familial adenomatous polyposis drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the classic familial adenomatous polyposis drugs market includes the following segments:
By Treatment Type
By Drug Type
By Distribution Channel
Ans: Rising occurrence of colorectal cancer worldwide and genetic history of polyposis or colorectal disorders are the major growth drivers for the market.
Ans: The market is anticipated to attain a modest CAGR over the forecast period, i.e., 2021 – 2030.
Ans: High treatment cost of classic familial adenomatous polyposis is estimated to hamper the market growth.
Ans: North America will provide more business opportunities on the back of high healthcare spending and growing occurrence of colorectal diseases in the region.
Ans: The major players in the market are Adhera Therapeutics, Inc., Cancer Prevention Pharmaceuticals, Inc., Haihe Biopharma Co., Ltd., StemSynergy Therapeutics, Inc., and others.
Ans: 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.
Ans: The market is segmented by treatment type, drug type, distribution channel, and by region.
Ans: The monotherapy drugs segment is anticipated to hold largest market size and is estimated to grow at a noteworthy CAGR over the forecast period and display significant growth opportunities.