Global Mitomycin Market: Introduction
Mitomycin needs no introduction. Since its approval by the FDA in 1974, it has been one of the blockbuster drugs for cancer treatment. By inhibiting DNA synthesis, it speeds up the chemotherapy process, and eventually, the entire treatment. Over the last few years, the global mitomycin market has been witnessing a tremendous rise. The significant increase in cancer cases across the world has boosted its demand to a great extent.
This report on the global mitomycin market presents a clear picture of its current status. It takes the trends and prospects of this market in consideration and thoroughly analyzes the market segments. The regional segments have also been assessed at length in this report.
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Global Mitomycin Market: Competitive Analysis
The degree of competition in the global mitomycin market is quite low. The power rests at hands of a few players, namely, Kyowa-kirin, Teva Pharnaceuticals, Intas Pharmaceuticals, Bristol-Myers Squibb, Speciality European Pharma, Rocket Pharmaceuticals, and Aspen. These players are constantly striving to develop advanced products in a bid to offer highly efficient drugs to their consumers. For example: Rocket Pharma has announced to launch a stage 2 trial for a drug intended to be used for gene therapy for the treatment of a rare disease called, fanconi anemia. This trial stage will primarily include testing this drug’s resistance to mitomycin C, a DNA damaging chemo agent, in the duration of one year. According to the company, MMC resistance will also act as a surrogate endpoint for fast approval.
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Some other companies in the global mitomycin market are:
- Varifarma
- Alkem Laboratories
- APOGEPHA
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Global Mitomycin Market Dynamics
Rising Application in Ophthalmology Creates Opportunities for Drugmakers
The rising prevalence of cancer across the world has increased the demand for mitomycin substantially. The affordability of mitomycin has given it an edge over other treatment options. Its popularity will continue to rise and keep on attracting significant demand in the near future. Mitomycin finds extensive application in the treatment of melanoma, colorectal cancer, prostate cancer, lung cancer, blood cancer, breast cancer, and several ophthalmic treatments.
The usage of mitomycin has increased in ophthalmology over the last few years. Its modulatory impact on wound healing has augmented its use in ophthalmic treatment. At present, mitomycin is applied in the treatment of glaucoma surgery, pterygium surgery, corneal refractive surgery, conjunctival neoplasia, cicatricial eye disease, and allergic eye disease. Drugmakers are capitalizing heavily on the increasing application of mitomycin in ophthalmic treatments.
On the other hand, the increasing complications associated with the use of mitomycin and the reports of damage caused by it to bone marrow cells may limit its application in ophthalmic as well as cancer treatment in the years to come.
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Asia Pacific to Offer Promising Opportunities
The global mitomycin market is spread across Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. North America has surfaced as the key consumer of this drug due to the high number of cancer patients. Europe is another significant consumer of mitomycin for similar reasons. The increasing investment in cancer research is also supporting these regional markets.
Asia Pacific is fast emerging as a lucrative market for mitomycin, with Japan becoming the most prominent supplier of this drug across the world. The manufacturing of mitomycin is also increasing substantially in India, aiding the Asia Pacific mitomycin market. Leading manufacturers are focusing actively on expanding their bases in this region, which is also expected to increase its prominence in the global market.
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