Neurofibromatosis type-1 is a rare disease condition characterized by changes in skin colour and growing of tumors in nerves of the skin along the body. Neurofibromatosis type-1 in children exhibit multiple spots on skin surrounded by dark pigmentation, which may grow big and form freckles in underarms, while in adults they develop non-cancerous tumors in spinal cord or along with the nerves in the patient’s body.
In adults, there is a risk of blood cancer and brain cancer due to chances of developing cancerous tumor by Neurofibromatosis type-1 in some individuals. According to the National Library of Health report 2016, prevalence of Neurofibromatosis type-1 is 1 out of 3,000 to 4,000 individuals worldwide. Neurofibromatosis type-1 is treated depending upon its symptoms such as bony lesions, brain tumors, dermal neurofibromas, learning disabilities, plexiform tumors, vascular complication, and malignant peripheral nerve sheath tumors.
Global Neurofibromatosis type-1 Market Drivers
Neurofibromatosis type-1 is associated with various symptoms such bony lessions, brain tumors, dermal neurofibromas, learning disabilities, plexiform tumors, vascular complication and malignant peripheral nerve sheath tumors, which creates an wide array of scope for pharmaceutical companies for research and development in the treatment of Neurofibromatosis type-1 based upon its symptoms. For instance, in April 2020, the U.S. Food Drug and Administration approved Koselgu (selumetinib) drug of AstraZeneca PLC and Merck & Co., Inc for the treatment of Neurofibromatosis type-1 associated with cancerous tumors.
Furthermore, research institutes are focusing on research and development for the treatment of neurofibromatosis type-1 conditions. For instance, in 2018, University of Albama, in Brimingham completed the clinical trials on usage of drug lovastatin in neurofibromatosis type-1. These factors are expected to drive growth of the global Neurofibromatosis type-1 market over the forecast period.
Global Neurofibromatosis type-1 market COVID-19 Impact Analysis
Since the outbreak of COVID-19 pandemic every industry and sector around the world is affected negatively. Furthermore, in the case of global Neurofibromatosis type-1 market, plexiform tumors are form of neurofibromatosis type-1, which are treated with help of chemotherapy and radiation therapy, which weakens the immune system of patients during the therapy. Thus, there is high risk of COVID-19 infections to patients suffering from plexiform tumors and undergoing its treatment. Furthermore, imposed safety precautions to avoid spread of COVID-19 infection has lead complications in carrying out chemotherapy and radiation therapy in the treatment of Neurofibromatosis type-1.
Global Neurofibromatosis type-1 Market Restraints
Radiation therapy is conducted for the treatment of neurofibromatosis which leads to damaging of surrounding tissue of targeted tumors, and further leads to damaging of good blood cells. It could affect the process of generating the new generation process of blood cells. Moreover, inability to kill tumor cells which are not able to see in scans is a limitation in radiation therapy. Furthermore, chemotherapy may include late effects such as heart problems and reduced lung capacity. These factors are expected to restrain growth of the global Neurofibromatosis type-1 market.
Global Neurofibromatosis type-1 Market Regional Analysis
On basis of region, global Neurofibromatosis type-1 market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In North America, pharmaceutical companies are focusing on new approaches to develop treatment for rare diseases such as Neurofibromatosis type-1 in the region. For instance, in June 2020, Nflection Therapeutics received US$ 20 million funding from series A financing round by Venbio Partners and F-prime Capitals and also announced initiation of clinical trials of NFX-179 gel, uses topical route for the treatment of Neurofibromatosis type-1.
Europe is expected to witness significant growth in the global neurofibromatosis type-1 treatment market over the forecast period, owing to pharmaceutical companies focusing on mergers and acquisitions for the treatment of Neurofibromatosis type-1 and to strengthen their market position. For instance, in April 2020, Healx, an AI driven pharmaceutical company, entered into a partnership with Global Children’s Tumor Foundation (CTF) for development in the treatment of Neurofibromatosis type-1 genetic diseases.
Global Neurofibromatosis type-1 Market Key Players
Key operating players in global neurofibromatosis type-1 market include Merck & Co., Inc, AstraZeneca PLC, NFlection Therapeutics, Healx, and GL Pharm Tech Corporation.
On the basis of drug class, the global Neurofibromatosis type-1 market is segmented into:
On the basis of distribution channel, the global Neurofibromatosis type-1 market is segmented into:
On the basis of region, the global Neurofibromatosis type-1 market is segmented into: