The global cutaneous T-cell lymphoma treatment market is estimated to garner significant revenue by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market is attributed to rising prevalence of lymphoma cancer and growing geriatric population. Moreover, growing advances in cancer treatments, and increasing R&D activities and investments for novel treatment options are further fostering the growth of the market.
Cutaneous T-cell lymphoma (CTCL) is a rare type of cancer of the T lymphocytes, a type of white blood cell which help body’s germ-fighting immune system. CTCL mainly affects the skin but may also affect blood, lymph nodes, and/or internal organs in advance stages. It is one of the most uncommon types of non-Hodgkin lymphoma.
However, high cost and long duration of treatment, lack of proper detection technique, and lack of awareness about the symptoms and treatment of cutaneous T-cell lymphoma are likely to restrain the growth of the market. Furthermore, treatments like chemotherapy have substantial side effects on health. This factor is also likely to hinder the market growth.
The market is segmented by type into mycosis fungoides (MF), sézary syndrome, and others, out of which, the mycosis fungoides segment is anticipated to hold the largest market share on the back of being the most common type of CTCL, constituting over 50% of all cases. It is also easier to diagnose and about 70 to 80 percent patients are diagnosed at early stages.
On the basis of treatment, the market is segmented into tropical therapy, radiation therapy, chemotherapy, immunotherapy, and others, out of which, the tropical therapy segment is estimated hold the largest market share owing to growing approvals and larger adoption of tropical drugs for the treatment.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.
Geographically, the global cutaneous T-cell lymphoma treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is expected to hold the largest market share owing to high prevalence of CTCL in the region and surge in the demand for progressive treatment options and early adoption of new technologies. About 3,000 new cases of CTCL are seen in the U.S. every year.
Asia-Pacific region is projected to witness growth at the highest rate over the forecast period owing to growing improvements in healthcare sector, developments for detection and diagnosis of rare diseases, and presence of a diverse patient structure.
The global cutaneous T-cell lymphoma treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global cutaneous T-cell lymphoma treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising prevalence of lymphoma cancer, growing geriatric population, growing advances in cancer treatments, and increasing R&D activities and investments for novel treatment options are the major factors driving the growth of the market.
The market is anticipated to attain a CAGR nearly 5% over the forecast period, i.e., 2022-2030.
High cost and long duration of treatment, lack of proper detection technique, and lack of awareness about the symptoms and treatment of cutaneous T-cell are estimated to hamper the market growth.
Asia-Pacific region is expected to provide significant business opportunities for the growth of the global cutaneous T-cell lymphoma treatment market.
The major players in the market are Soligenix, Bausch Health Companies Inc., Kyowa Kirin Co., Ltd., Bristol-Myers Squibb Company, Merck & Co., Helsinn Healthcare SA, Elorac, Eisai Co., Ltd., Seagen Inc., 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 type, treatment, end-user, and by region.
The mycosis fungoides (MF) segment is anticipated to hold largest market size in value and witness growth over the forecast period.
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