Market Trends of Global Waldenstrom's Macroglobulinemia (WM) Treatment Industry
This section covers the major market trends shaping the Waldenstrom Macroglobulinemia Market according to our research experts:
Targeted Therapy Segment Expects to Register a High CAGR in the Forecast Period
The targeted therapy segment is expected to hold the largest share in this market segment. It is considered an is emerging pharmacotherapy for cancer. It is aimed at the disease blocking the growth and spread of cancer cells while minimizing the off-target side effects to the healthy/ normal cells. This leads to its higher adoption among other drugs, leading to its dominance in the market. Targeted therapy for waldenstrom macroglobulinemia includes monoclonal antibodies. For instance, anti-CD20 antibodies include obinutuzumab (Gazyva), ofatumumab (Arzerra), and rituximab-abbs (Truxima), Ibrutinib, Bortezomib (Velcade) are mostly used targeted therapy drugs for waldenstrom macroglobulinemia. According to the data published by National Cancer Institute, it has been observed that the targeted therapy agents, such as Imbruvica, Velcade, and Kyprolis, have shown improved treatment outcomes.
Furthermore, rising the number of pipeline candidates and an increased number of drug approvals are anticipated to propel the growth of this segment in the forecast period. For instance, according to ClinicalTrial.gov, 318 clinical studies are conducted by Institutes in collaboration with companies, 285 completed clinical studies, and 96 studies are either terminated, suspended, or withdrawn. In addition, Curis, X4, InnoCare, Ascentage, and Cellectar have 1 clinical trial in waldenstrom's macroglobulinemia disease.
Moreover, targeted therapy is being evaluated in COVID-19 treatment. Thus, encouraging clinicians to pursue targeted therapy agents during the pandemic is likely to create opportunities during the forecast period.
North America Dominates the Market and Expects to do Same in the Forecast Period
North America dominates waldenstrom's macroglobulinemia (WM) treatment market due to the rise in the incidence and prevalence of the disease coupled with new product launches in this region is responsible for the dominance of the market and continues to hold a health share in the market in the foreseeable period. As per the statistics provided by NORD (National Organization for Rare Disorders), waldenstrom's macroglobulinemia is affecting about 1 in 3.4 million American men and about half that number of American women. According to the data published by National Organization for Rare Disorders, it has been observed that the incidence of waldenstrom's macroglobulinemia is estimated to be about 5 per 1,000,000 people over the age of 50. Increasing research and development activities by the key players and the increased incidence of waldenstrom macroglobulinemia in the region are driving the growth of the market. Furthermore, the presence of major cancer foundations and increasing government grants to the medical institution, and growing awareness about the disease are also contributing to the growth of the market. Furthermore, the accessibility of medical resources will further boost the growth of waldenstrom's macroglobulinemia (WM) treatment market in the region during the forecast period. Many organizations that are supporting this disease are the American Society Center, International waldenstrom's macroglobulinemia Foundation (IWMF), and Lymphoma Research Foundation.
