SEATTLE, Aug. 12, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the U.S. Severe Oral Mucositis Market is estimated to be valued at US$ 78.5 million in 2021 and is expected to exhibit a CAGR of 19.2% during the forecast period (2021-2028).
Key Trends and Analysis of the U.S. Severe Oral Mucositis Market:
Key players operating in the market are focusing on the development of treatments for severe oral mucositis, which is expected to offer lucrative opportunities for the market players to launch novel products in the market. For instance, in June 2020, Soligenix, Inc. announced that it completed patient enrolment in its Phase 3 DOM-INNATE study for SGX942 (dusquetide) in the treatment of oral mucositis (OM) in head and neck cancer (HNC) patients.
For instance, in February 2020, Galera Therapeutics, Inc. announced full tumor results of the two year follow up of patients with head and neck cancer treated with avasopasem manganese (GC4419), which is Galera's lead product candidate for severe oral mucositis (SOM) and is curently in a Phase 2b clinical trial.
Key Market Takeaways:
The U.S. severe oral mucositis market is expected to exhibit a CAGR of 19.2% during the forecast period due to increasing prevalence of head and neck cancer in the U.S., which is expected to boost the U.S. severe oral mucositis market in 2028. For instance, according to the Centers for Disease Control and Prevention report, around 650,000 cancer patients receive chemotherapy in an outpatient setting each year in the U.S. and according to a consensus about 500,000 cases of OM occur in the U.S. every year.
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On the basis of Drug Type, Late Phase Drugs (Avasopasem and Dusquetide) segment is estimated to exhibit higher CAGR in the U.S. severe oral mucositis market over forecast period. Key companies in the market are focused on research and development activities to develop novel therapeutics for the treatment of severe oral mucositis, which is expected to drive the segment growth during the forecast period. For instance, in June 2020, Soligenix Inc., a pharmaceutical company, announced the completion of patient enrollment for its phase III clinical trial study of SGX942 (Dusquetide) for the treatment of oral mucositis.
On the basis of Grade, Grade IV segment is estimated to hold a dominant position in the U.S. severe oral mucositis market in 2021. Increasing hospitalization of the patients suffering from grade IV oral mucositis is expected to drive the segment growth. For instance, according to the U.S. National library of Medicine report 2017, around 70% of the patients with grade III- IV oral mucositis require feeding tube insertion and immediate medical attention in the U.S.
Among Distribution channel, Hospital Pharmacies segment is estimated to hold a dominant position in the U.S. severe oral mucositis market in 2021. Increase in the healthcare expenditure by various healthcare regulatory organizations in the U.S. in the past years is expected to drive the segment growth. For instance, according to the U.S. Centers for Medicare and Medicaid Services' 2019 findings on the National Health Expenditure (NHE), hospital expenditure grew by 4.6% to US$ 3.8 trillion in 2019, compared to the previous year (2018). Additionally, prescription drug expenditure increased by 5.7% to US$ 369.7 billion in 2019, which was higher than the 3.8% growth in 2018.
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Competitive Landscape:
Key players operating in the U.S. severe oral mucositis market include Innovation Pharmaceuticals Inc.*, Monopar Therapeutics Inc., Soligenix, Inc., Oragenics, Inc., Enzychem Lifesciences, Galera Therapeutics, Inc., Amgen, Inc., and Covis Pharma Group.
Market Segmentation:
- U.S. Severe Oral Mucositis Market, Drug Type:
- Palifermin
- Amifostine
- Chlorhexidine
- Sucralfate
- Late Phase (Avasopasem, Dusquetide)
- U.S. Severe Oral Mucositis Market, By Cause:
- Chemotherapy
- Radiotherapy
- U.S. Severe Oral Mucositis Market, By Grade:
- Grade III
- Grade IV
- U.S. Severe Oral Mucositis Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Hospital
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com
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