Market Analysis: Global Plexiform Neurofibromas Treatment Market

Global plexiform neurofibromas treatment market is growing at a steady CAGR in the forecast period of 2019-2026. Increasing research and development expenses and high demand of novel therapies are some factors fueling the market growth

Market Definition: Global Plexiform Neurofibromas Treatment Market

Plexiform neurofibromas are inherited genetic disorders which account of 30% neurofibromatosis. It is caused by inherited mutation in the NF1 gene resulting in arises of neurofibromas from multiple nerves and skin. The symptoms associated with this disease are soft lumps on and under the skin. It can causes clinical issues such as motor function impairment, airway dysfunction, learning difficulties and increases a person’s risk of developing other cancers.

According to the statistics published in the National Organization for Rare Disorders, Inc, it is estimated 1 in every 2,500 to 3,000 birth affected by neurofibromatosis. Prevalence of cases of neuron injuries and high demand of novel therapies are some factors fueling the market growth.

Market Drivers

Increase special designation from the regulatory authorities is boosting the market growth
Emergence of drugs used to treat complication associated with neurofibromatosis is accelerating the market growth
Huge financial support to the researchers for developing novel intervention is enhancing the market growth
Family history of neurofibromatosis is propelling the market growth

Market Restraints

Limited availability of disease specific treatment options due to low prevalence of neurofibromatosis is restraining the market growth
Lack of trained personnel and stringent safety regulations is hampering the market growth
Failure of clinical trial during the development stage can also act as restraints the market growth

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Segmentation: Global Plexiform Neurofibromas Treatment Market

By Therapy Type

Chemotherapy
Radiation Therapy
Others

By Treatment

Medication
Surgery
Pain Management
Others

By Route of Administration

Oral
Injectable

 By End Users

Hospitals
Homecare
Specialty Clinics
Others

By Geography

North America
U.S.
Canada
Mexico
South America
Brazil
Rest of South America
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Turkey
Belgium
Netherlands
Switzerland
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
Australia
Singapore
Thailand
Malaysia
Indonesia
Philippines
Rest of Asia Pacific
Middle East & Africa
South Africa
Rest of Middle East & Africa

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Key Developments in the Market:

In July 2019, SpringWorks Therapeutics has received an Orphan Drug designation from the European Commission for mirdametinib (formerly PD-0325901), an oral dual inhibitor of MEK1 and MEK2 for the treatment of neurofibromatosis type 1 in patients who are potential to develop plexiform neurofibromas. With this designation enables the company to receive certain benefits and incentives along with 10 years period of market exclusivity upon approval, reduced regulatory fees and protocol assistance.

In April 2019, AstraZeneca in collaboration with Merck & Co., Inc received Breakthrough Therapy Designation from the FDA for Selumetinib, a MEK 1/2 inhibitor for the treatment of neurofibromatosis type 1 plexiform neurofibromas. The Breakthrough Therapy designation enables the company to receive expedited regulatory review and bring the drugs to patients as quickly as possible.

Competitive Analysis:

Global plexiform neurofibromas treatment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global plexiform neurofibromas treatment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Players:

Few of the major competitors currently working in the Global Plexiform Neurofibromas Treatment Market are AstraZeneca, Merck & Co., Inc, Array BioPharma, BioXcel Corporation, SpringWorks Therapeutics, Recursion Pharmaceuticals, Inc, Novartis AG, Celldex Therapeutics, Pfizer Inc, and others.