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Mitotane Market is Expected to Grow With a CAGR of ~ 5% in the Forecast Period - PMR
NEW YORK, Aug. 30, 2019 /PRNewswire/ -- Over the years, mitotane has become one the preferred choices of treatment for Cushing's syndrome and ACC. The growth of the mitotane market can be attributed to the increased incidence of patient population, which is anticipated to grow significantly in the forecast period. Furthermore, late recurrence of Cushing's syndrome and late diagnosis and detection also favours the growth of the mitotane market. ACC has been marked with a high recurrence rate, where treatment using adjuvant therapy has been found to be extremely successful.
The ~US$ 12 billion market for mitotane is anticipated to grow at a healthy CAGR over the period of next decade. Macro-economic factors, such increase expenditure in healthcare sector in emerging nations such as China, India, and Brazil is expected to boost the growth of the mitotane market in the forecast period. With the rise and continual growth in global healthcare expenditure, sales of pharma drugs such as mitotane in countries outside the U.S. represent a potential growth avenue for domestic manufacturers.
According to the World Bank, all regions (except Sub-Saharan Africa) have seen an increase in the healthcare spending as a percentage of total output over the last two decades. Similarly, in 2016, China's healthcare expenditure grew ~5% of the GDP, which is expected to almost double by 2020.
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The market for mitotane is based on two disease indications such as Cushing's syndrome and ACC. Cushing's syndrome includes symptoms such as round red face, high blood pressure, weak muscles and bones, abdominal obesity, a fat lump between shoulders, and fragile skin. The prevalence rate varies from 10-15 cases/ million population/year. High disease diagnosis screening percentage and attractive reimbursement in developed markets have made the mitotane market to grow significantly.
In contrast, ACC is a rare but aggressive tumour that arises from adrenal cortex and develops late with a large mass. It is estimated that ~600 new cases are diagnosed every year/million population. The disease is most common between 50 and 60 years of age. According to PMR, ACC-based disease indication is anticipated to hold a prominent position in the global mitotane market, in terms of revenue with a global market share of ~60% in 2029.
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Major players in the mitotane market are focusing on investing in research and development for the improvement of mitotane with less side effects, and introduction of more affordable and reliable drug treatments in developing regions of the world. Besides, companies are also engaged in commercial partnerships for the sales and marketing of mitotane. Such developments are likely to foster the market to grow in untapped regions and meet the treatment demand.
The mitotane market report offers a comprehensive taxonomy based on the disease indication, distribution channel, and region. Based on disease indication, the global mitotane market is segmented into ACC and Cushing's syndrome.
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Based on distribution channel, the mitotane market is classified into hospital pharmacies, retail pharmacies, online pharmacies, and specialty clinics. With the increase in the incidence of both the diseases and growth opportunities in terms of sales, the mitotane market also offers significant potential for other players to invest in the market.
The mitotane market has been studied across North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA, and Emerging countries such as China, Brazil, and India. Availability of knowledge-based resources and enhanced research collaboration trends in North America and Europe are estimated to propel the growth of the mitotane market. North America and Europe markets are projected to be the prominent regional markets for mitotane and are poised to offer substantial opportunities.
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Besides, these regions continue to witness high recurrence rate of adrenocortical carcinoma. Use of adjuvant therapy using mitotane has been the prime success factor in the treatment of such indication. With several collaborations, acquisitions, and agreements between drug industry players and academic institutions are anticipated to help the mitotane market to continually expand and create new dimensions and opportunities for the development of therapeutics for diseases such as ACC and Cushing's syndrome.
Some of the key companies working in the global mitotane market are HRA Pharma and Bristol-Myers Squibb Company. Continuous investments by big players in product development have led to the commercialization of mitotane drugs with the ability to incorporate in adjuvant-based medications, which can be used in the treatment of both ACC and Cushing's syndrome.
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