Global Plexiform Neurofibromas Treatment Market, by Drug Class (Selumetinib, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Anticonvulsants, Others (Tricyclic Antidepressants, etc.)), by Patient Population (Pediatric, Adult), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,371.14 Million in 2022 and is expected to exhibit a CAGR of 8.2% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Adoption of inorganic strategies such as collaoration by key market players is expected to drive the global plexiform neurofibromas treatment market over the forecast period. For instance, In July 2020, AstraZeneca, a biopharmaceutical company, announced that they had collaborated with the Merck & Co., Inc., a pharmaceutical company, to co-commercialize and co-develop Lynparza and Koselugo (selumetinib), a mitogen-activated protein kinase (MEK) inhibitor, for multiple cancer type. According to the terms of the deal, Merck paid AstraZeneca Plc. up to US$ 8.5 billion in total consideration, which included US$ 1.6 billion up front, US$ 750 million for a few licencing options, and up to US$ 6.15 billion that was based on meeting future regulatory and sales goals.
Global Plexiform Neurofibromas Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
The COVID-19 pandemic also had a negative impact on the global plexiform neurofibromas treatment market. For instance, in Feburary 2021, according to the data published in Orphanet Journal of Rare Diseases, a survey was conducted in neurofibromatosis clinics in the U.S. to identify the impact of COVID-19 on neurofibromatosis clinical care. It was concluded that routine clinical care and elective procedures were temporarily paused in neurofibromatosis treatment and clinical trials participation was also impacted, with half of clinics reporting either modification or deferral of existing clinical trials protocols and delays or suspensions with new research protocols.
Global Plexiform Neurofibromas Treatment Market: Key Developments
Increasing adoption of inorganic strategies such as acquisistion by key market players is expected to drive the global plexiform neurofibromas treatment over the forecast period. For instance, in October 2022, Pasithea Therapeutics, a biotechnology company, acquired AlloMek Therapeutics, LLC, a privately held biotechnology company. AlloMek Therapeutics, LLC’s, lead therapeutic candidate, CIP-137401, is a potential best-in-class macrocyclic mitogen-activated protein kinase inhibitor for use in a range of Central Nervous System related indications, including neurofibromatosis type 1 and Noonan syndrome. This acquisition helped Pasithea therapeutics to expand its CNS-focused drug development pipeline with near-term clinical opportunities.
Browse 113 Market Data Tables and 50 Figures spread through 415 Pages and in-depth TOC on “Global Plexiform Neurofibromas Treatment Market”- Forecast to 2030, Global Plexiform Neurofibromas Treatment Market, by Drug Class (Selumetinib, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Anticonvulsants, Others (Tricyclic Antidepressants, etc.)), by Patient Population (Pediatric, Adult), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/plexiform-neurofibromas-treatment-market-5430
Moreover, ongoing research and development by key market players is expected to drive the global plexiform neurofibromas treatment market over the forecast period. For instance, in September 2019, SpringWorks Therapeutics., a biopharmaceutical company, announced that they had started a clinical trial to evaluate mirdametinib (PD-0325901) in the treatment of symptomatic inoperable neurofibromatosis type-1 (NF1) associated with plexiform neurofibromas. Mirdametinib is an orally delivered, highly selective small molecule inhibitor of the dual specificity kinases, MEK1 and MEK2.
Key Takeaways of the Global Plexiform Neurofibromas Treatment Market:
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