Desmoid tumor, also called aggressive fibromatosis, often occurs in the legs, arms, and abdomen. These tumors are noncancerous growths that occur in the human connective tissue. Since these tumors are noncancerous, they do not spread to other body parts; however, they can be aggressive and grow into nearby organs and structures. The common symptoms associated with desmoid tumors include an area or mass of swelling, loss of function in that area, and pain. When desmoid tumors occur in the abdomen, they can cause cramping and nausea along with the other symptoms.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.
However, with COVID-19 the supply chain of raw materials required to manufacture drugs for desmoid tumors has been disrupted in many countries. In addition, the market growth of pharmaceuticals is declining, as the manufacturers of drugs have slowed down their production due to the pandemic. This, in turn, is expected to have a significant impact on the desmoid tumor market.
Top Impacting Factors
The rising cases of cancer all over the world has fueled the demand for effective and advanced chemotherapeutic agents. This demand is positively influencing the desmoid tumor market during the forecast period.
In addition, governments in many developed nations have increased their funding in the development of novel therapies for the treatment of desmoid tumors, which is propelling the growth of the desmoid tumor market.
Key players of the desmoid tumor market are investing in research and development activities all across the world, which can further lead to market growth.
However, high cost associated with the management and treatment of desmoid tumors and lack of advanced healthcare infrastructure in middle- and low-income nations can impede the growth of the desmoid tumor market.
Key Market Trends
Mutations in the gene named CTNNB1 are found to be associated with the occurrence of desmoid tumors in humans. Mutation analyses are expected to happen in the future, which can be used to design individual therapies and help predict the risk of occurrence of desmoid tumors.
North America and South America dominate the desmoid tumor market. The growth of these regions can be attributed to the rising awareness about desmoid tumors in people and increasing healthcare expenditure by the governments.
Europe is the second major player in the desmoid tumor market, due to the support provided to research and development bodies in this region by the government and improvement in healthcare reimbursement policies.
Asia-Pacific region is expected to grow at a significant rate during the forecast period, due to presence of huge patient pool. This region is further focused on developing advanced healthcare technology to treat and diagnose desmoid tumors, which contributes toward the market growth.
Key Benefits of the Report
- This study presents the analytical depiction of the desmoid tumor industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Desmoid Tumor Report
- Which are the leading players active in the desmoid tumor market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the desmoid tumor market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps in the market?
- What are the impacts of COVID-19 on the industry?
- What is a desmoid tumor?
- What are the current and predicted trends of the market?
Desmoid Tumor Market Report Highlights
By End User
Key Market Players
Debiopharm Group, Others, Abbott Laboratories, Beckman Coulter, Inc., Stryker Corporation, AbbVie, Inc., Novartis AG, F.Hoffmann-La Roche Ltd., Amgen, Inc., Bayer AG