Hedgehog Pathway Inhibitors Market Trends

Growth Drivers

• Growing Incidence of Basal Cell Carcinoma (BCC) Worldwide - Every year, approximately 3.5 million cases of BCC are diagnosed in the United States. Heavy chemical exposure increases the risk of developing carcinomas. As with indoor tanning, it can also lead to BCC as it reduces the synthesis of melanin. These risk factors are increasing the number of cases of BCC, which is anticipated to drive global hedgehog pathway inhibitors market growth during the forecast period. In terms of skin cancer, basal cell carcinoma (BCC) is the most commonly diagnosed form.
• Increasing Drug Approvals by Government Authorities- The FDA has approved DAURISMO (glasdegib) for treating newly-diagnosed acute myeloid leukemia (AML) in adults 75 years and older.
• High Rate of Exposure to UV Rays- According to the WHO, approximately 1.2 million new cases of non-melanoma skin cancers (SCC and BCC) and 325 000 melanomas of the skin were caused by excessive UVR exposure in 2020, as well as 64 000 premature deaths from non-melanoma skin cancers and 57 000 from melanomas of the skin globally.
• Intensifying Healthcare Infrastructure Investment- The rising healthcare expenditure, along with funds provided by organizations, is anticipated to contribute to improving the infrastructure of the hedgehog pathway inhibitors market. For instance, the Indian healthcare infrastructure in 2022 was estimated to hit approximately USD 300 billion.
• Rising Cases of Acute Myeloid Leukemia - Acute myeloid leukemia (AML) is a type of cancer of the blood and bone marrow. It is a porous tissue found inside bones that is responsible for producing blood cells. Although it can originate in other blood-forming cells as well, AML often starts in cells that develop into white blood cells. The normal growth of bone marrow cells is interrupted by acute types of leukemia including AML. Hence, the rising need for acute myeloid leukemia treatment is also projected to accelerate the growth of the hedgehog pathway inhibitors market. In the United States (US), AML occurs 4.2 times per 100,000 people per year. The incidence of the disease increases with age, and the median age at diagnosis in the United States is 65 years.

Challenges

• Presence of Alternative in Market
• High Drug Development Cost – In the development stage of the drug, high costs are being involved. As a result, the price of end product increases. This trend is expected to slow down the adoption rate of the product by the population with middle income.
• Concern of Effects Associated with the Treatment