Cowden syndrome (CS), a clinical disorder and inherited condition that is characterized primarily by multiple, noncancerous growths called hamartomas on various parts of the body. The occurrence of CS can lead to the risk of developing certain types of cancer including Breast, thyroid, and endometrial cancers.
Although a rare kind of disease, over the past couple of years, the prevalence of Cowden syndrome seems to be increasing. Besides, it being a risk factor for cancerous tumors, the Cowden syndrome is taken seriously, and huge investments are transpired in the development of treatment. With the interventions of advanced technologies, today, specialists are developing breakthrough therapies & treatments that are phenomenally close. Therefore, the market for Cowden syndrome is growing globally.
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Acknowledging the traction, the market is vibrating with currently, Market Research Future (MRFR) in its recently published study report asserts that the global Cowden syndrome market gaining further prominence will demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking 6.7% CAGR during 2017 – 2023.
Evidently, technological advancements transpired into the field of medical science are providing impetus to the growth of the Cowden syndrome market further escalating it pervasively. However, efforts of key market players that are constantly bringing improvements in the treatments are rather seminal. Hence the market players are the main force driving the market growth exclusively.
The Cowden syndrome market still consists of a limited number of treatments; however, governments of various countries have taken up many initiatives to spread the awareness and to support the manufacturers for research and development of drugs, medical devices, and technology. These initiatives are paying off well by increasing the market size substantially, raising the awareness among people about the disease and the availability of its treatments.
On the other hand, the side effects and the high cost of the medicines associated with the treatment are some of the key factors impeding the market growth. Also, the limited vision, knowledge, and awareness towards the treatment’s availability are obstructing the market growth of Cowden syndrome, especially in the underdeveloped regions such as the Middle Eastern and African region.
Global Cowden Syndrome Market – Segments
The MRFR analysis is segmented into four key dynamics;
By Sites : Breast, Thyroid, Endometrium (uterus), Colorectal, Kidney, and Skin (melanoma), among others.
By Treatments : Genetic Testing, Chemotherapy (Anthracyclines, Taxanes, Antimetabolites, Alkylating Agents and others.), Targeted Therapy (Monoclonal Antibodies, Tyrosine Kinase Inhibitors, and others.), Surgery & Radiation Therapy, Hormone Therapy (Selective Estrogen-Receptor Modulators (SERMs), Aromatase Inhibitors, and others.).
By End-Users : Hospital & Clinics, ambulatory care centers, and others.
By Regions : North America, Europe, APAC and the Rest-of-the-World.
Global Cowden Syndrome Market – Regional Analysis
The North American region dominates the global Cowden syndrome market, accounting for a significant market share. The region is expected to continue with its dominance throughout the forecast period. The increasing prevalence of Cowden syndrome and cancer is predominantly driving the market growth in the region.
Additional factors acting as a tailwind to the market growth include high healthcare expenditure, huge technological development, and strong government support for research & development. Simultaneously, the presence of the leading players and increasing availability of funds are impacting the market growth in this region, positively.
The European region accounts for the second-largest market for Cowden syndrome treatment, emerging as another lucrative market, globally. Germany, backed by its sizeable medical device industry and its vast Cowden syndrome treatment market is expected to drive the market growth in the region. Favorable governmental support and initiatives drive the growth in the market extensively. The proliferating healthcare sector in the region, backed by the resurging economy is fostering the market growth radiantly.
The Asia Pacific region is emerging as a promising market for Cowden syndrome treatments owing to the increasing cases of cancer. The region is expected to escalate rapidly over the forecast period. Factors such as the huge development opportunities along with the constantly developing healthcare infrastructure in the Asia Pacific region is propelling the market growth. Countries such as India and China, backed by the rapidly increasing the economy and increasing government support are expected to lead the market in this region.
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Global Cowden Syndrome Market – Competitive Analysis
Cowden syndrome market is highly competitive. The key strategies traced from the analysis of recent developments of the key players include product launch, agreement & partnership, acquisition, and expansion. Key manufacturers utilizing breakthrough manufacturing technology strive to develop a comprehensive range of safe and reliable solutions portfolio.
Key Players:
The global cowden syndrome market is driven by some of the leading players including GlaxoSmithKline Plc. (UK), Novartis AG (Switzerland), Bayer AG (Germany), Eli Lilly and Company (US), Amgen, Inc. (US), AstraZeneca Plc. (UK), Sanofi (France), Bristol-Myers Squibb Company (US), AbbVie Inc. (US), Takeda Pharmaceuticals (Japan), Spectrum Pharmaceuticals Inc. (US), Pfizer, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Merck & Co., Inc. (US), Janssen Biotech, Inc. (US), Oncomed Pharmaceuticals (US), and Immunomedics (US).
Industry/Innovation/ Related News:
September 21, 2018 - GlaxoSmithKline Plc. (UK), a leading global research-based pharmaceutical and healthcare company partnering with the Tres Cantos Open Lab Foundation (TCOLF), a company addressing the translational and funding gap existing in Global Health (GH) announce additional £5m funding for open innovation research in diseases including rear diseases such as Cowden syndrome impacting the developing world.
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