Global Nasopharyngeal Carcinoma Market Size To Grow At a CAGR of 5.6% From 2022 To 2030
The Global Nasopharyngeal Carcinoma Market Size is expected to reach multimillion by 2030, at a CAGR of 5.6 % during the forecast period 2021-2030. Due to increasing patient count of nasopharyngeal cancer has grown significantly at a strong CAGR during the forecast period, according to a research report published by Spherical Insights & Consulting. Companies Covered: Biocon Limited, Bristol Myers Squibb Company, Cyclacel Pharmaceuticals, F. Hoffman La-Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer, Inc., GlaxoSmithKline (GSK) PLC, Sanofi, Theravectys SA, Eli Lilly And Company, Roche, BioDiem and Others.
New York, United States , March 30, 2023 (GLOBE NEWSWIRE) -- The Global Nasopharyngeal Carcinoma Market Size is projected to reach multimillion USD by 2030, in comparison to 2021, at a CAGR of 5.6% during the forecast Period 2022-2030. The key driving factors for the nasopharyngeal carcinoma treatment market considered are increasing aging population, rise in consumption of tobacco, increasing health awareness, and changing lifestyle, which are key driving factors for the nasopharyngeal carcinoma market. The studied market is expanding due to increasing the number of cases & increasing awareness of treatment and diagnosis.
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The term Nasopharyngeal Carcinoma is rare cancer that appears in the nasopharynx. Nasopharynx is at the base of the skull and directly above the roof of the mouth. Major symptoms included in nasopharyngeal carcinoma are a lump in the nose or neck, sore throat, difficulty in breathing or speaking, difficulty in hearing, pain & ringing in the ear, or headache. The techniques which are used to diagnose nasopharyngeal carcinoma are EBV antibody test, X-ray, ultrasound, endoscopy, biopsy, CT scan, MRI, PET scan, or PET-CT scan. Nasopharyngeal carcinoma is classified into three types, based on cell appearances under the microscope such as keratinizing squamous cell carcinoma, non-keratinizing differentiated carcinoma, and undifferentiated carcinoma. Nasopharyngeal carcinoma begins in squamous cells that track the nasopharynx.
The factors which are limiting the market growth such as the high cost of therapeutic procedures such as chemotherapy, surgeries, and radiation therapies, results in out-of-pocket expenditure among non-insured nasopharyngeal carcinoma patient. Furthermore, the side effects of the drug which are prescribed for the treatment of nasopharyngeal carcinoma can hamper the growth of the market.
COVID 19 Impact
The ongoing outbreak of the COVID-19 pandemic had a positive impact on the pharmaceutical industry but it affects the nasopharyngeal carcinoma market due to the hospital visits of patients declining and the diagnosis rate also decreases during the pandemic. Nasopharyngeal carcinoma mostly occurs in elderly or immunosuppressed people and the clinical data shows that they may be more susceptible to Covid 19 infection. The main concern during the pandemic was to stay safe at home and boost immunity, which has decreased patient clinic visits, leading to collapse the market of the nasopharyngeal market in 2020.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Nasopharyngeal Carcinoma Market Size, Share, and COVID-19 Impact Analysis, By Therapy (Chemotherapy, Immunotherapy, Radiation Therapy, Other Therapy), By End Users (Hospitals & Clinics, Ambulatory Surgery Centers Electronics, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here:
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The chemotherapy segment is dominating the market with the largest market share over the forecast period.
Based on the therapy, global nasopharyngeal carcinoma is classified into chemotherapy, immunotherapy, radiation therapy, and others. Among these, the chemotherapy segment is observing the market during the forecast period. Owing to the new product launches and increasing incidence of nasopharyngeal carcinoma, the chemotherapy segment is composed to witness the growth of the market. For example, in January 2022, the research article published by NCBI, that the addition of chemotherapy reduced the risk of death, with an absolute survival rise in children aged group 5 and the elderly population respectively. Thus, such researchers admired that chemotherapy is expected to drive growth.
The hospitals & clinics segment is dominating the market over the forecast period.
Based on end users, the global nasopharyngeal carcinoma market is segmented into Hospitals & Clinics, Ambulatory Surgery Centers Electronics & others. The hospitals & clinics segment accounted for the largest market share over the forecast period owing to the market players massively investing in the emerging region to provide productive treatment solutions for higher healthcare quality and better patient outcomes. Also, the fast appropriation of the technology is expected to boost the market growth
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North America is projecting the market with the largest market share during the forecast period
North America is dominating the largest market share over the forecast period due to increasing cases & high awareness in the population regarding treatment and diagnosis in North American countries. Furthermore, the presence of key market players, which leads to technological advancements and delivers new products also projects the North America Market growth.
Asia Pacific is also expected to grow the market substantially during the forecast period, increasing research and development expenditure & clinical trials associated with growing product approval.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Nasopharyngeal Carcinoma Market include Biocon Limited, Bristol Myers Squibb Company, Cyclacel Pharmaceuticals, F. Hoffman La-Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer, Inc., GlaxoSmithKline (GSK) PLC, Sanofi, Theravectys SA, Eli Lilly, and Company, Roche, BioDiem and Others.
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In June 2022, KMC clinics in Kolkata, India, started cancer screening, including nasopharyngeal cancer under the head and neck division. The screening program was launched in collaboration with the Indian Medical Association (IMA), the Indian Dental Association (IDA), and Medica Super specialty Hospital. And it is expected to be carried out almost 16 centers under KMC.
In January 2022, Wistar Institute launched a phase 2 trial investigating the safety and efficacy of the oral inhibitor VK-2019 in patients with advanced Epstein-Barr virus-positive nasopharyngeal carcinoma, which is a rare type of head and neck cancer lymphoma, this trial is led by the researchers at the Stanford university school of medicine.
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