Analysis by Indication (Diagnostic Procedures, Fundoplication Procedures, Radiofrequency Thermal Ablation, and Magnetic Sphincter Augmentation); by Application (Basal Cell Carcinoma, Acute Myeloid Leukemia, and Others); and by Distribution Channel (Hospitals, Retail Pharmacies and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global hedgehog pathway inhibitors market is estimated to garner a revenue of ~USD 1,722 Million by the end of 2033 by growing at a CAGR of ~11% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 60 Million in the year 2022. The growth of the market can be attributed to the rising prevalence of skin cancer among the general population, owing to rising pollution, global warming, exposure to harsh UV rays, and other factors. Skin cancer is a life-threatening chronic disease that involves abnormal growth of skin cells and is mainly divided into 3 category that are melanoma, basal cell carcinoma, and squamous cell carcinoma. For instance, a skin cancer diagnosis is expected to occur in one in five Americans by the age of 65. In the U.S., more than 2 people die from skin cancer every hour.
Global hedgehog pathway inhibitors market trends such as, the need for minimally invasive procedures coupled with rising instances of chronic diseases, advanced healthcare technologies for cancer treatment, and investments provided by the government are anticipated to influence the growth of the market positively over the forecast period. For instance, the melanoma became the 17th common type of cancer across the world, additionally, in 2020, more than 140,000 new cases of melanoma were diagnosed worldwide. This type of cancer occurs from the prolonged exposure to the sun. Hence, such factors are expected to hike the market growth during the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~11% |
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Base Year Market Size (2022) |
~ USD 60 Million |
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Forecast Year Market Size (2033) |
~ USD 1,722 Million |
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Regional Scope |
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Growth Drivers
Growing Incidence of Basal Cell Carcinoma (BCC) Worldwide - Every year, approximately 3.5 million cases of BCC are diagnosed in the United States. Heavy chemical exposure increases the risk of developing carcinomas. As with indoor tanning, it can also lead to BCC as it reduces the synthesis of melanin. These risk factors are increasing the number of cases of BCC, which is anticipated to drive global hedgehog pathway inhibitors market growth during the forecast period. In terms of skin cancer, basal cell carcinoma (BCC) is the most commonly diagnosed form.
Increasing Drug Approvals by Government Authorities- The FDA has approved DAURISMO (glasdegib) for treating newly-diagnosed acute myeloid leukemia (AML) in adults 75 years and older.
High Rate of Exposure to UV Rays- According to the WHO, approximately 1.2 million new cases of non-melanoma skin cancers (SCC and BCC) and 325 000 melanomas of the skin were caused by excessive UVR exposure in 2020, as well as 64 000 premature deaths from non-melanoma skin cancers and 57 000 from melanomas of the skin globally.
Intensifying Healthcare Infrastructure Investment- The rising healthcare expenditure, along with funds provided by organizations, is anticipated to contribute to improving the infrastructure of the hedgehog pathway inhibitors market. For instance, the Indian healthcare infrastructure in 2022 was estimated to hit approximately USD 300 billion.
Rising Cases of Acute Myeloid Leukemia - Acute myeloid leukemia (AML) is a type of cancer of the blood and bone marrow. It is a porous tissue found inside bones that is responsible for producing blood cells. Although it can originate in other blood-forming cells as well, AML often starts in cells that develop into white blood cells. The normal growth of bone marrow cells is interrupted by acute types of leukemia including AML. Hence, the rising need for acute myeloid leukemia treatment is also projected to accelerate the growth of the hedgehog pathway inhibitors market. In the United States (US), AML occurs 4.2 times per 100,000 people per year. The incidence of the disease increases with age, and the median age at diagnosis in the United States is 65 years.
Challenges
The global hedgehog pathway inhibitors market is segmented and analyzed for demand and supply by indication into diagnostic procedures, fundoplication procedures, radiofrequency thermal ablation, and magnetic sphincter augmentation. Out of these segments, the diagnostic procedures segment is estimated to gain the largest market share over the projected time frame. Diagnostic procedures help to identify the disease or condition and to determine the symptoms before and after the disease. The rising awareness of targeting the hedgehog pathway in cancer is anticipated to augment segment growth during the forecast period. For instance, the diagnostic procedure for cancer includes single-photon emission computed tomography (SPECT), computed tomography (CT), positron emission tomography (PET), magnetic resonance imaging (MRI), and others. For instance, in 2019, in united states, nearly 250 CT scans were performed per 1000 people, while approximately in France, around 200 CT scans were performed per 1000 people.
The global hedgehog pathway inhibitors market is also segmented and analyzed for demand and supply by application into basal cell carcinoma, acute myeloid leukemia, and others. Amongst these segments, the basal cell carcinoma segment is expected to garner a significant share. The growth of the segment is ascribed to the higher prevalence of the basal cell carcinoma (BCC) in the global population, backed by the growth in the frequencies of UV rays emitted by sun that can cause several health risks. It was anticipated that approximately 3 million people in the United States are diagnosed with basal cell carcinoma annually. Basel cell carcinoma generally occurs in people aged above 50 years. Hence, such factors are expected to propel the growth of the market during the forecast period.
Our in-depth analysis of the global hedgehog pathway inhibitors market includes the following segments:
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By Indication |
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By Application |
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By Distribution Channel |
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The North America hedgehog pathway inhibitors market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increasing prevalence of basal and squamous cell skin cancers among the population, owing to exposure to the sun, harmful pollutants, and others. A recent estimate indicates that approximately 5.5 million basal and squamous cell skin cancers are diagnosed each year in the United States. Moreover, the increasing Medicare spending, high exposure to UV rays and chemicals is also anticipated to boost the market growth in the region in the coming years. Moreover, the massively surging requirement for leukemia therapeutics as of the huge patient papulation with leukemia is further expected to expand the hedgehog pathway inhibitors market size in the region during the forecast period. As of 2023, around 22,000 deaths in the United States were caused by leukemia while approximately 60,000 new cases of leukemia were diagnosed in the region. Therefore, all these factors are anticipated to flourish the growth of the regional market over the forecast period.
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.
Ans: Rising cases of acute myeloid leukemia and increasing drug approvals by government authorities are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~11% over the forecast period, i.e., 2023 – 2033.
Ans: Concern of effects associated with the treatment are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are PellePharm, Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd, Sun Pharmaceutical Industries Ltd., Inhibitor Therapeutics, Inc., MAX BioPharma, Inc., Infinity Pharmaceuticals, Inc., Novartis AG, Sanofi S.A., 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 indication, application, distribution channel, and by region.
Ans: The diagnostic procedures segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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