With 6.7% CAGR, Chordoma Disease Therapeutics Market To Reach About US $ 8,339.2 Million By 2027 | Consistent market outlook
SEATTLE, June 01, 2021, (MEDGADGET) – Overview:
Chordoma is a rare cancer that affects the spine or the area between the base of the skull and the tailbone. Chordoma is a form of sarcoma, which are cancerous tumors of the bones and soft tissues. The most common tumors of the sacral and cervical spine are chordomas.
Chordoma tumors affect the spine, brain, and nerves, causing tingling, numbness, fatigue, loss of bladder or bowel control, sexual dysfunction, vision problems, endocrine problems and swallowing problems.
Chordomas are treated differently depending on their size, position, and appearance. Chordomomas can reappear or spread to other parts of the body even after surgical treatment. Chordomas usually affect the bones, lungs, liver, and lymph nodes. Surgery, radiation therapy, targeted therapy, and advanced chemotherapy are some of the treatment options. Targeted therapy, in which drugs are used to directly target cancer cells, is the most effective procedure.
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Increasing drug approvals from regulatory authorities for the treatment of chordoma is expected to fuel the growth of the chordoma therapy market. For example, the United States Food and Drug Administration (FDA) granted orphan drug status to Bavarian Nordic A / BN-Brachyury, S, a new cancer vaccine indicated for the treatment of chordoma, in May 2018.
Leading players who focus on adopting strategies such as collaborations and agreements to strengthen their market position are expected to drive the growth of the chordoma disease therapeutic market. For example, Biothera Pharmaceuticals signed a licensing agreement with Cipla Limited in January 2019 for BAT1706, a possible biosimilar of bevacizumab. Cipla Limited has obtained the rights to distribute and sell the biosimilar in emerging markets as part of this transaction.
Impact of Covid-19:
Chemotherapy and other cancer treatments can weaken the immune system of cancer patients, increasing their risk of infection. As a result, people with cancers like chordoma are more likely to suffer from serious complications from COVID-19. However, due to the life-sustaining nature of chordoma disease, regulatory authorities have advised against delaying or postponing chemotherapy or immunotherapy for chordoma disease care.
Healthcare institutions are introducing telehealth solutions to provide services to cancer patients while preserving social distance to fight the COVID-19 pandemic without compromising the health of cancer patients. Patients can make virtual consultation appointments with their doctor. To combat the spread of COVID-19 infection, healthcare providers are taking the following steps.
- Visitors are not allowed in hospitals, where only emergency cases are treated.
- All patients entering hospitals are being screened for potential symptoms of COVID-19.
- Healthcare providers allow patients to use telemedicine systems to schedule their appointments.
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Chemotherapy drugs approved for the treatment of chordoma are not always effective and may cause nausea, headache, and hair loss, which is expected to limit the growth of the market during the forecast period. The low prevalence of the disease and the limitations of the treatment, along with the high cost of diagnosis, treatment, and research and development, are all factors limiting the growth of the market.
The global Chordoma Disease Therapeutics market size is estimated to be valued at US $ 5,296.31 million in 2020 and is expected to display a CAGR of 6.7% during the forecast period (2020-2027).
The Chordoma Disease Therapeutics Market, by Drug Class, is segmented into:
- VEGFR inhibitors
- EGFR inhibitor
By type of treatment:
- Targeted therapy
By end user:
- Oncology centers
- North America
- Latin America
- Asia Pacific
- Middle East
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The major players operating in the global chordoma therapy market include Sanofi SA, Astellas Pharma Inc., AstraZeneca plc, Amgen, Inc., GlaxoSmithKline Plc, Bavarian Nordic A / S, Boehringer Ingelheim International GmbH, Pfizer, Inc., Merck & Co., Inc., Bristol-Myers Squibb and Company, Novartis International AG, Bayer AG, Dr. Reddy’s Laboratories Ltd., and Mylan NV
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