Global Cancer Therapy Market Expected to Reach $268 Billion In 2026, With A CAGR Of 9.15%

Global Cancer Therapy Market Expected to Reach $268 Billion In 2026, With A CAGR Of 9.15%

PR Newswire

PALM BEACH, Fla., Nov. 16, 2021

PALM BEACH, Fla., Nov. 16, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The COVID-19 pandemic has affected the healthcare systems globally and also has a significant impact on the cancer therapy market. As per the article published in Cancer Connect 2020, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decrease in the diagnoses of the six most common cancer types - breast, colorectal, lung, pancreatic, gastric, and esophageal cancers. Also, the Centers for Disease Control and Prevention (CDC) and many medical professional organizations recommended that cancer screening and other health prevention services, along with elective surgeries, to be postponed unless the risks outweighed the benefits and to secure the hospital infrastructure for the treatment of COVID-19 patients. Thus, the COVID-19 pandemic has impacted the cancer therapy market. However, the situation is expected to gradually improve.  According to a report from Mordor Intelligence the global cancer therapy market was valued at approximately USD 158 billion in 2020, and it is expected to witness a revenue of USD 268 billion in 2026, with a CAGR of 9.15% over the forecast period.  Active companies in the markets today include:  Hoth Therapeutics, Inc. (NASDAQ: HOTH), Cassava Sciences, Inc. (NASDAQ: SAVA), Biogen Inc. (NASDAQ: BIIB), Camber Energy, Inc. (NYSE: CEI), Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT).

The report continued: "The factors that are driving the market growth include increasing patient assistance programs (PAPs), increasing government initiatives for cancer awareness, rising prevalence of cancer worldwide, and strong R&D initiatives from key players, along with the increasing demand for personalized medicine… The increasing incidence of cancer cases is expected to drive the need for advanced cancer therapies for the effective treatment of patients. Thus, given the aforementioned factors, the cancer therapy market is expected to witness tremendous growth over the forecast period. Targeted therapy is a rapidly growing field of cancer research, and researchers are studying many new targets… Thus, in view of the increasing product approvals and high research activities related to targeted therapies against cancers, the studied segment is expected to grow over the forecast period."

Hoth Therapeutics, Inc. (NASDAQ: HOTH) BREAKING NEWS: Hoth Therapeutics Announces a Sponsored Research Agreement to Further Develop Novel mRNA Cancer Therapeutic HT-KIT  – Hoth Therapeutics, Inc., a patient-focused biopharmaceutical company, today announced that it has signed a Sponsored Research Agreement with North Carolina State University ("NC State") to support the continued research and development of HT-KIT, a novel therapeutic for the treatment mast cell cancers.

The research will be led by Dr. Glenn Cruse, Assistant Professor, and will focus on characterizing the HT-KIT dose and dosing frequency for treatment of aggressive mastocytosis and mast cell neoplasms using humanized tumor mouse models. In addition, the research will expand therapeutic potential of HT-KIT for the treatment of other cancers where aberrant cKIT signaling contributes to the cancer progression, such as gastrointestinal stromal tumors (GIST) and acute myeloid leukemia (AML).

"We are pleased to announce the continuation of our development of HT-KIT after our earlier announcement of beginning API and drug product manufacturing," said Stefanie Johns, Chief Scientific Officer of Hoth Therapeutics, Inc. "We remain focused on pushing this important cancer therapeutic through to the clinic. The research conducted by Dr. Cruse and NC State will help direct the continued development and clinical planning of this potentially life-saving therapy."

About HT-KIT - HT-KIT is a new molecular entity (NME) under development for treatment of mast cell derived cancers and anaphylaxis. HT-KIT was developed Dr. Glenn Cruse, Assistant Professor at North Carolina State University. The HT-KIT drug is designed to more specifically target the receptor tyrosine kinase KIT in mast cells, which is required for the proliferation, survival and differentiation of bone marrow-derived hematopoietic stem cells. Mutations in the KIT pathway have been associated with several human cancers, such as gastrointestinal stromal tumors and mast cell-derived cancers (mast cell leukemia and mast cell sarcoma). Based on the initial proof-of-concept success, Hoth intends to initially target mast cell neoplasms for development of HT-KIT, which is a rare, aggressive cancer with poor prognosis. The same target, KIT, also plays a key role in mast cell-mediated anaphylaxis, a serious allergic reaction that is rapid in onset and may cause death. Anaphylaxis typically occurs after exposure to an external allergen that results in an immediate and severe immune response.   CONTINUED…  Read the Hoth Therapeutics full press release by going to:  https://ir.hoththerapeutics.com/news-releases

In other news and developments of note in the markets this week: 

Cassava Sciences, Inc. (NASDAQ: SAVA), a clinical-stage biotechnology company focused on Alzheimer's disease, recently announced financial results for the third quarter ended September 30, 2021. Net loss for the third quarter ended September 30, 2021, was $9.6 million, or $0.24 per share, compared to a net loss of $1.4 million, or $0.06 per share, for the same period in 2020. Net cash used in operations was $22.2 million during the first nine months of 2021. Net cash use for operations for full-year 2021 is expected to be approximately $25 to $30 million, up from previous guidance of $20 to $25 million due to a significant prepayment made to a contract research organization for our Phase 3 clinical program with simufilam. An additional $22.0 million was used during the third quarter of 2021 for an all-cash purchase of an office complex in Austin, Texas, which will serve as the Company's future corporate headquarters. Cash and cash equivalents were $241.5 million as of September 30, 2021, with no debt.

Camber Energy, Inc. (NYSE American: CEI) recently announced its majority-owned subsidiary, Viking Energy Group, Inc., entered into an Exclusive Intellectual Property License Agreement with ESG Clean Energy, LLC ("ESG") regarding ESG's patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide. The license is exclusive for all of Canada (unlimited number of systems), and non-exclusive for up to twenty-five locations in the United States.

Biogen Inc. (NASDAQ: BIIB) and Eisai Co., Ltd. (Tokyo, Japan) recently announced that data from approximately 7,000 plasma samples from more than 1,800 patients in the ADUHELM™ (aducanumab-avwa) Phase 3 clinical trials showed a statistically significant correlation between plasma p-tau reduction and less cognitive and functional decline in Alzheimer's disease. Reductions in plasma p-tau181 were also correlated with a lowering of amyloid beta plaque. The pre-specified analysis of plasma samples was conducted by an independent lab, drawing from the two pivotal ADUHELM Phase 3 EMERGE and ENGAGE trials. The findings were presented today at the Clinical Trials on Alzheimer's Disease conference (CTAD), held November 9-12 virtually and in Boston, Massachusetts.

The analysis highlighted that ADUHELM significantly reduced tau pathology, a defining feature of Alzheimer's disease, as measured by plasma p-tau181, when compared to placebo. The effect was greater with higher doses and longer duration of ADUHELM treatment. Greater reduction in plasma p-tau181 also had a statistically significant correlation with less decline in cognition and function in ADUHELM-treated patients. Furthermore, the analysis demonstrated a statistically significant correlation between change in plasma p-tau181 and lowering of amyloid beta plaque, showing the effect of ADUHELM on the two core pathological features of Alzheimer's disease.

Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT), a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, recently announced results from a new analysis examining obeticholic acid's (OCA) potential to improve transplant-free survival in patients with PBC. The data will be featured in a late-breaking podium presentation at The Liver Meeting®, the Annual Meeting of the American Association for the Study of Liver Diseases (AASLD), which is being held virtually from Friday, November 12 to Monday, November 15, 2021. The analysis was also selected as a "Best of The Liver Meeting" abstract in the Cholestatic and Autoimmune Liver Diseases category.

"This collaborative study used an innovative approach to contribute new understandings about how treatment of patients with PBC with OCA may impact clinical outcomes: we compared patients with PBC who were treated with OCA in the open-label long-term safety extension of the Phase 3 POISE trial, with external controls from two large representative academic-led patient registries. When compared to real-world patient outcome data, the results provide insights into OCA's potential to improve transplant-free survival in patients with PBC treated in a trial setting," said Professor Gideon Hirschfield, FRCP, Ph.D., Lily and Terry Horner Chair in Autoimmune Liver Disease at the University of Toronto. "Data describing the effect of OCA on mortality and need for liver transplant in patients with PBC is eagerly awaited, but such data is inevitably challenging to generate. Notably, when doing this comparison, we found consistent results across the two databases. We hope this analysis can soon be extended to include more patients treated with OCA, and approaches such as this can help the field overcome obstacles to generating meaningful clinical outcome data."

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