Thymus Cancer Market

SKU: DMPH2037 | Last Updated On: Sep 21 2022 | Available Formats

>Thymus Cancer Market Expected to reach a high CAGR of 5.2% over the forecast period of 2022 to 2029:

Thymus Cancer Market is segmented By Type (Thymic carcinoma, Type A, Type AB, Type B1, Type B2, Type B3), By Treatment (Chemotherapy(Carboplatin, Cisplatin, Ifosfamide, Others), By End-User (Hospitals, Clinics, Cancer centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

 

Thymus Cancer Market size was valued US$ 786.2 million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 5.2% during the forecast period (2022-2029).

Thymus Cancer Market

Metrics

Details

Market CAGR

5.2%

Segments Covered

By Type, By Treatment, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Thymus cancer is a tumor formed on the outer surface originating from the epithelial cells of the thymus. The thymus is a small organ that is located in the upper chest under the breast region. Thymus cancer is uncommon cancer known for its association with the neuromuscular disorder myasthenia gravis and is found in 20% of patients with myasthenia gravis.

Market Dynamics

The thymus cancer market is driven by the various factors such as increasing prevalence of thymic cancer, growing demand for treatments, technological advancements and surge in government initiatives.

Increasing prevalence of thymic cancer and rising R&D activities for thymic cancer treatment are expected to drive market growth.

The major driving forces are the increasing prevalence of thymic cancer, innovative treatments, and increasing government initiatives.

The increasing prevalence of thymic cancer is expected to boost the market. For instance, according to the Cancer.net (American Society of Clinical Oncology) 2020, less than one person per 1.5 million people develops thymic cancer. This means about 400 people per year acquires thymoma. However, the exact number is not known and may be increased using computed tomohy scans. Thymoma and thymic carcinoma usually occurs in people between the ages of 40 and 60 but can occur at almost any age. Thus, the rising older population is likely to enhance the growth of the thymus cancer market.

The presence of ongoing research activities is expected to boost the market. 
The side effects related to the treatment of thymus cancer are expected to restrain the market. For instance, as per the American Cancer Society, radiation can damage the bone marrow leading to low blood counts. This can also lead to anemia (low red blood cell counts) and low white blood cell counts, which increases the risk of severe infections. Also, chest radiation therapy of the lungs. This may lead to trouble breathing and shortness of breath. This usually gets better after the radiation treatments stop, but sometimes the damage is long-term (or even permanent). Thus, the onset of side effects is likely to hamper the market.

High cost associated with the treatment procedure are expected to hamper the market growth.

The high cost of treatment and the side effects of the treatment of thymus cancer is likely to hinder the growth of the thymus cancer market.

Industry Analysis

The global thymus cancer market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, regulatory analysis, supply chain analysis, pricing analysis and unmet needs.

Segment Analysis

Thymic carcinoma segment is expected to hold the largest market share in global thymus cancer market

Based on the type, the global thymus cancer market is segmented into Type A, Type AB, Type B1, Type B2, Type B3, and thymic carcinoma.

The thymic carcinoma segment is expected to boost the market over the forecast period, owing to ongoing research activities. For instance, the Sun Yat-sen University has commenced a phase 2 study of thymosin A1 during chemoradiotherapy for unresectable thymoma and thymic carcinoma in August 2018. The estimated study completion date is in August 2023. Thus, the presence of ongoing research activities on thymic carcinoma is driving the market.

Based on the treatment, the global thymus cancer market is segmented into surgery, radiation therapy, chemotherapy, etc. Chemotherapy is further segmented into carboplatin (Paraplatin), cisplatin (Platinol), ifosfamide (Ifex), and others. The chemotherapy segment is expected to boost the market over the forecast period, owing to increased clinical trials. For instance, Combination of targeted oral drugs by Novartis got approved by U.S.FDA for treatment of wide range of advanced solid tumores. It widens the latest treatment approach referred as tumour.

U.S. Food and Drug Administration gave approval for Tafinlar and Mekinist, combination of these two drugs to patients with metastatic solid tumours with mutation. It can be used for adults and kids older than 6 years. Thus, an increased number of clinical trials for the treatment of thymus cancer using chemotherapy drive the market.

Also, the radiation therapy segment is expected to grow at a high rate over the forecast period, owing to increased research and development activities by various universities. External beam radiation therapy (EBRT) is used to treat thymoma. EBRT delivers high-energy radiation to destroy cancer. In short, EBRT targets tumor cells explicitly and thus, prevents damage to healthy cells. For instance, the Fudan University started an open-label, multi-center, randomized phase III study of adjuvant radiotherapy for stage II/III thymoma after complete resection in January 2018. The estimated study completion date is in December 2029. Thus, the presence of ongoing research activities undertaken by various universities is driving the market.

Geographical Analysis

North America region holds the largest market share in the global thymus cancer market

Geographically, the global thymus cancer market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America was dominating the global thymus cancer market. It is estimated to hold a significant market size over the forecast period owing to the increasing prevalence of thymic carcinoma and the presence of government organizations.

The increasing prevalence of thymic carcinoma is expected to boost the market over the forecast period. For instance, according to the American Cancer Society, although thymic tumor is the most common tumor in the anterior mediastinum (the front part of the chest cavity), overall, they are infrequent. They occur at a rate of 1.5 cases for every million people each year in the US. This is around 400 cases per year.

The presence of active government organizations in the region is expected to boost the market. For instance, the International Thymic Malignancy Interest group is an organization, which aims to promote the advancement of the clinical and basic science about thymic and other mediastinal malignancies and related conditions.

Competitive Landscape

The key players operating in the global thymus cancer market are Innovation Pharmaceuticals Ltd. (Cellceutix Corporation), Merck & Co., Novartis AG, Boston Biomedical, Inc., (Sumitomo Dainippon Pharma Co., Ltd.), Tiziana Life Sciences PLC, Karyopharm, Nerviano Medical Sciences S.r.l., and Pfizer.

The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the thymus cancer market globally. For instance,

  • On Jul, 2020, Boston Biomedical, Inc., announced that they have decided to merge with Tolero Phrmaceuticals, Inc., to form Sumitomo Dainippon Pharma Oncology, Inc. These two clinical stage companies will now together develop advanced meaningful novel cancer therapeutics through research and development and innovative drug discovery.  
  • In Nov 2020 Pfizer announced approval of NYVEPRIA by European Commission. It is a biosimilar to Neulasta, as it minimizes incidence of febrile neutropenia and time duration of neutropenia in adults treated by cytotoxic chemotherapy.

Global Thymus Cancer Market – Key Companies to Watch

Innovation Pharmaceuticals Ltd. (Cellceutix Corporation):

Overview: Innovation pharma is a publicly-traded biopharma company that discovers and advances innovative and novel medical therapies with range of applications such as anti-inflammatory, antiviral, oncology, antibiotic and dermatology. It was established in 2007 and is headquartered in Massachusetts, United States.

Product Portfolio:

Kevetrin: It is a small molecule that induces activation of p53, protein that controls cell mutations and also known as guardian of genome. This molecule has potential of cancer treatment.   

Key Developments: In Jun 2022, Innovation Pharma, a clinical stage biopharma company acquired stake in Squalus Medical, an Israel based company that developed StingRay laser system. It is a laser based thermal ablation technology that is developed for the treatment of inoperable cases of epilepsy and for improved new options for oncology treatment.

The global thymus cancer market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.

Frequently Asked Questions

What is the Projected CAGR value of the Thymus Cancer Market?

Thymus Cancer Market is expected to grow at a CAGR of 5.2% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Thymus Cancer Market during 2022-2029

Which is the fastest growing region in the Thymus Cancer Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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