Systemic Mastocytosis Treatment Market to grow at a CAGR of 6.2% during 2024-2028
The Systemic Mastocytosis Treatment Market is expected to grow at a CAGR of 6.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 157.1 million. The systemic mastocytosis treatment market is undergoing substantial evolution, with diagnostic technologies leading the charge. Genetic testing plays a crucial role in the diagnostic process, specifically in identifying KIT mutations, such as the D816V variant. This advancement in diagnostics enables personalized treatment plans, providing valuable insights into disease progression and prognosis. The incorporation of advanced diagnostic technologies extends beyond KIT D816V mutations, enabling a more comprehensive understanding of systemic mastocytosis's genomic landscape. This knowledge is essential for guiding the development of targeted therapies and enhancing prognostic assessments.
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Technavio analysts predict that the AK-002 subsegment will lead the Type segment during 2024 and 2028 The systemic mastocytosis treatment market encompasses various therapeutic types, with AK-002 (lirentelimab) representing a notable segment. This monoclonal antibody therapy specifically binds to CD117, a cell surface receptor pivotal to mast cell growth and activation. CD117, also known as c-Kit, plays a significant role in systemic mastocytosis, where its abnormal activation results in the excessive proliferation and accumulation of mast cells, leading to symptoms such as skin lesions, gastrointestinal issues, and anaphylactic reactions. AK-002's mechanism of action centers around inhibiting CD117, thereby mitigating the abnormal mast cell activity, and consequently, alleviating the debilitating symptoms of systemic mastocytosis, ultimately enhancing patients' quality of life.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the Systemic Mastocytosis Treatment Market include:
There are several factors that are causing the market to flourish growth of aging population
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Systemic Mastocytosis (ISM) is a rare disorder characterized by the abnormal proliferation of mast cells in various organs, leading to symptoms such as abdominal pain, itching, and skin lesions. Diagnostic methods for ISM include imaging tests, bone marrow biopsy, and blood tests to identify genetic mutations. The pathophysiology of ISM involves the dysregulation of mast cell function and activation, resulting in the release of histamine and other mediators. Treatment for ISM focuses on symptom management and addressing the underlying disease. Treatment practices include antihistamines, immunomodulatory drugs, and supportive care. Emerging drugs, such as JAK inhibitors, show promise in treating ISM by targeting the underlying genetic mutations. Healthcare professionals use a treatment algorithm to guide decision-making, considering the severity and location of the disease. Drug development for ISM is ongoing, with clinical studies investigating the efficacy and safety of new treatments. Genetic research is also advancing our understanding of the disease and potential targets for therapy. The Systemic Mastocytosis Treatment Market is expected to grow due to the increasing diagnosis rate and unmet medical needs. The market includes antihistamines, immunomodulatory drugs, and emerging therapies. In summary, the diagnosis and treatment of ISM involve a multidisciplinary approach, with a focus on symptom management, addressing the underlying disease, and advancing our understanding through research. The Systemic Mastocytosis Treatment Market is expected to grow due to the increasing diagnosis rate and unmet medical needs.
The Systemic Mastocytosis Treatment Market is a significant segment of the global pharmaceuticals industry, encompassing entities involved in the research and development (R&D) or production of both generic and non-generic drugs, as well as veterinary drugs. According to Technavio's market analysis, the global pharmaceuticals market size is determined by the consolidated revenue generated by manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Key growth drivers for this market include the increasing global population aging, with Europe and North America projected to have over 25% of their populations over the age of 60 by 2030 and 2050, respectively. This demographic shift is expected to fuel demand for various pharmaceutical products and treatments, including those for systemic mastocytosis.
The Systemic Mastocytosis Treatment Market is experiencing significant growth, fueled by the growth of aging population. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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