In the forecast period 2018-2023, the worldwide market for nasopharyngeal cancer is expected to record a CAGR of about 2%.
Growing awareness of nasopharyngeal cancer diagnosis and treatment
There is a growing awareness of nasopharyngeal cancer NPC diagnosis and treatment. The public perception of nasopharyngeal cancer has traditionally been very weak due to a lack of government initiatives and low disease incidence rates. But, the rise in the North America region’s number of NPC patients has changed this scenario. Nasopharyngeal carcinoma NPC is a rare upper digestive tract malignancy in the United States and has an incidence of less than 1 in 100,000. However, this disease has a well-documented regional and ethnic distribution so that Southern Chinese and Southeast Asian descent people are up to 20-40 times more probable to create NPC than European ethnicity people. In order to increase community awareness of ethnicities that are predisposed to nasopharyngeal cancer, various primary health care centers have started to raise awareness about NPC. Consequently, there is witnessed greater adoption of NPC diagnosis and treatment, which drives the growth of the global market for nasopharyngeal cancer. Factors, such as high NPC prevalence in North America and Southern China regions, also contribute to market growth.
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The low incidence rate of disease
Nasopharyngeal cancer is one of the most common neck and head cancers, yet its overall global prevalence is significantly low. This is primarily due to the fact that the incidence rate of the disease is not uniform across different regions and in some regions there is a high concentration of patients with nasopharyngeal cancer, while in most other regions there is nearly zero prevalence. The Southeast region, for example, has the highest prevalence of nasopharyngeal cancer in Asia, with a prevalence rate of about 15 patients per 100,000 people. The prevalence rate is less than 1 per 100,000 people in the U.S. and other regions of the world. Consequently, this orphan status of the disease in global settings impedes the growth of the global market for nasopharyngeal cancer, as drug manufacturers do not find the associated drug development a lucrative business option due to a global low incidence. In addition, factors such as adverse side effects associated with current therapies and drugs indicated for nasopharyngeal cancer and lack of financial support for blockbuster drug research and development hinder the market growth.
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Radiation therapy has the largest market share for nasopharyngeal cancer Radiation therapy forms the primary treatment method. Chemotherapy is strongly pursued in terms of both market share and patient use-case. New and advanced methods of treatment for nasopharyngeal cancer include combining techniques for radiotherapy and chemotherapy. These treatment modalities are still in early clinical phases and will make a commercial appearance late or possibly even after the end of the forecast period.
Among the major players are Bristol Myers Squibb, Sanofi, Merck, Pfizer, Eli Lilly and Company, Novartis, Hoffmann-La Roche, and Biocon.
Name: Jennifer Daniel
Organization: Planet Market Reports