The cutaneous mastocytosis treatment has witnessed notable proliferation in recent time, owing to the growing demand for treatment of diverse rare diseases. As per the Persistence Market Research (PMR) analysis, the global cutaneous mastocytosis treatment market is anticipated to value US$ 300 Mn by the end of forecast period 2018-2026. The report opines that the cutaneous mastocytosis treatment market will witness steady growth during the assessment period, with numerous advocacy groups creating awareness about this rare disease.
As per the study, several non-profit organizations and government organizations have taken initiatives to grow awareness about cutaneous mastocytosis in last decade. Such initiatives have driven the diagnosis rate of cutaneous mastocytosis substantially. The rapidly accelerating diagnosis and treatment-seeking rate of rare diseases, such as cutaneous mastocytosis, will underpin growth in cutaneous mastocytosis treatment market. Moreover, the burgeoning awareness about the symptoms of cutaneous mastocytosis will bring traction to the market.
The study is of the opinion that the cutaneous mastocytosis treatment market is highly fragmented, with a monopoly of large pharma companies that have diverse product portfolios. The stakeholders in cutaneous mastocytosis treatment market are increasingly taking initiatives to develop novel treatment options targeting cutaneous mastocytosis, which has no cure as of now.
According to the Fact.MR study, numerous manufacturers in the pharmaceutical industry have taken efforts to evaluate effectiveness of diverse molecules adopted for cutaneous mastocytosis treatment. Whereas, some companies are awaiting regulatory approvals to commence clinical trials of cutaneous mastocytosis treatment drugs. For instance, in November 2018, GT Biopharma obtained the approval of the FDA for human phase study of GTB-3550 for treating mastocytosis.
The study opines that pharmaceutical companies are increasingly investing in R&D of rare diseases, such as cutaneous mastocytosis for managing such conditions in a better way. These growing R&D activities in tandem with high government funding are anticipated to pave way for enhanced treatment options for rare diseases in coming years. As per the study, this growing trend has the potential to drive growth in cutaneous mastocytosis treatment market.
Several countries, including the United Kingdom has close to 100% reimbursement for specific cases of rare diseases. Moreover, the National Health Service (NHS) of the U.K. is undergoing considerable reforms for further improvements. The study opines that a favorable reimbursement scenario for treatment of rare diseases has the potential to fuel growth in cutaneous mastocytosis treatment market.
As per the study, North America cutaneous mastocytosis treatment market will remain highly lucrative during the forecast period. This can be attributed to the rapid shift in demand for cutaneous mastocytosis treatment in developed economies that have a progressive healthcare sector and reimbursement scenario for high costing drugs.
Some of the leading players operating in the cutaneous mastocytosis treatment market are Novartis AG, Kaleo Inc., Merck & Co. Inc., Sanofi S.A., Johnson & Johnson, Pfizer Inc., EPI Health, LLC, Bayer AG, Mallinckrodt Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Bausch Health Companies Inc., and Mylan NV.