Desmoid Tumors Global Market Report 2024

The desmoid tumors market size has grown strongly in recent years. It will grow from $2.76 billion in 2023 to $2.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed in the historical period can be attributed to several factors, including advancements in medical imaging, progress in genetic research and understanding, innovations in surgical techniques, increased awareness and education, and the efforts of patient advocacy.

The desmoid tumors market size is expected to see strong growth in the next few years. It will grow to $3.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to factors such as the development of targeted therapies, the implementation of personalized medicine, increased international collaborations, regulatory approvals for novel therapies, and the adoption of patient-centric approaches. Notable trends expected in the forecast period include advancements in treatment approaches, progress in precision medicine and biomarker discovery, initiatives in clinical trials and research, the utilization of multidisciplinary treatment teams, and the emphasis on patient advocacy and support.

The anticipated increase in cancer cases is poised to drive the growth of the desmoid tumor market in the future. Cancer, characterized by abnormal cell growth and spreading, poses a significant health challenge globally. The escalating number of cancer cases worldwide has spurred the demand for advanced and effective chemotherapeutic agents, positively impacting the desmoid tumor market. For example, data from the American Cancer Society Inc. revealed that in 2020, the US saw 1.8 million new cancer cases and 606,520 cancer-related fatalities. The projections for 2021 indicated an increase to 1.9 million new cancer cases and 608,570 deaths. Therefore, the rising prevalence of cancer is a key factor driving the desmoid tumor market's growth.

The increasing allocation of government funding for research and development is expected to boost the desmoid tumor market. Government funding plays a pivotal role in advancing tumor research and treatment by providing financial support for scientific studies, medical infrastructure, and improved access to care. This ultimately enhances cancer prevention, diagnosis, and patient outcomes. An example is the budget of $7.3 billion allocated to the National Cancer Institute by the United States Congress in fiscal year 2023 for the Cancer Moonshot, marking a $408 million increase from 2022. Consequently, the escalating government funding for research and development is fostering the growth of the desmoid tumor market.

The high costs associated with desmoid tumor treatment represent a significant challenge to the market's growth during the forecast period. The expenses for treating desmoid tumors are elevated due to the costs of expensive medications and surgeries. These high costs place a financial burden on patients, varying depending on factors such as the case's complexity, tumor size, and location. According to the National Library of Medicine, the treatment cost for patients with desmoid tumors was reported to be $473,697 in February 2023. Therefore, the substantial treatment costs pose an obstacle to the desmoid tumor market's expansion.

Key companies in the desmoid tumors market are focusing on developing innovative drugs, such as nirogacestat, to address the needs of their existing consumers more effectively. Nirogacestat, an oral, small-molecule gamma-secretase inhibitor, has shown promise for treating desmoid tumors by blocking the production of notch proteins, contributing to tumor cell death. In February 2023, SpringWorks Therapeutics Inc. announced the acceptance and priority review of their new drug application (NDA) for nirogacestat by the U.S. Food and Drug Administration (FDA). This development provides patients with a new treatment option that holds the potential to improve outcomes.

In January 2023, the merger of Advaxis Inc. with Ayala Pharmaceuticals Inc., a US-based biotechnology company, aims to create a unified entity focused on developing and commercializing Ayala's lead program, AL102, for desmoid tumor treatment. The merger intends to expedite the development and commercialization of AL102, fostering a more diversified and robust cancer portfolio. Ayala Pharmaceuticals Inc. is actively developing AL102, a vaccine candidate designed to address the treatment of desmoid tumors.

Major companies operating in the desmoid tumors market report are Pfizer Inc., F.Hoffmann-La Roche Ltd., Abbvie Inc., Bayer AG, Novartis AG, Abbott Laboratories, Amgen Inc., Stryker Corporation, Genome And Company , Vertex Pharmaceuticals Incorporated, Eisai Limited, Beckman Coulter Inc., Incyte Corporation , Ipsen Biopharmaceuticals Inc., BeiGene Ltd., Janssen Biotech Inc., Ionis Pharmaceuticals Inc., Ayala Pharmaceuticals Inc., Blueprint Medicines Corporation, Xencor Inc., MacroGenics Inc., Debiopharm Group, Clovis Oncology Inc., Juno Therapeutics Inc., SpringWorks Therapeutics Inc., Loxo Oncology Inc., Mirati Therapeutics Inc., Iterion Therapeutics Inc., Recepta Pharmaceuticals Inc., Cellestia Biotech AG.

North America was the largest region in the desmoid tumors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the desmoid tumors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the desmoid tumors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The desmoid tumors market consists of revenues earned by entities by providing services such as gleevec-based therapy, sorafenib-based therapy, long-term monitoring, resonance imaging (MRI), computed tomography (CT) scans, ultrasound, and fine needle aspiration techniques (FNA) that aid in the diagnosis of desmoid tumors. The market value includes the value of related goods sold by the service provider or included within the service offering. The desmoid tumors market also includes sales of surgical tools, linear accelerators, immunotherapy drugs, and anti-fibrotic agents. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary treatments for desmoid tumors encompass surgical intervention, radiation therapy, anti-inflammatory medications, hormone therapy, chemotherapy, novel molecular-targeted therapy, and other therapeutic approaches. Surgery involves the removal or repair of tissues or organs within the body. The diagnosis of desmoid tumors employs various methods such as biopsy, electron microscopic examination, immunohistochemical analysis, and others. Medical professionals in hospitals, clinics, specialty centers, and similar healthcare facilities typically undertake these diagnostic and treatment procedures.

The desmoid tumors market research report is one of a series of new reports that provides desmoid tumors market statistics, including desmoid tumors industry global market size, regional shares, competitors with a desmoid tumors market share, detailed desmoid tumors market segments, market trends and opportunities, and any further data you may need to thrive in the desmoid tumors industry. This desmoid tumors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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