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Tenosynovial Giant Cell Tumor Market Segmented By treatment type such as Drug therapy, Radiation therapy and Surgical Operation
Tenosynovial giant cell tumor (TGCT) is a rare type of tumor that affects the synovial membrane of the joints, it is a progressive disease which gradually becomes worse and can damage the bones. Its symptoms include stiffness in the joint, pain or tenderness in the joints, swelling in the joints, warmth of the skin over the joints, etc. Tenosynovial giant cell tumor often occurs in the people who are in the age of 30s and 40s and is rare among the children.
There are many treatments for tenosynovial giant cell tumor such as drug therapy, ration therapy and surgery for removing the tumor. The tenosynovial giant cell tumor market is likely to grow during the forecast period due to the increasing prevalence of the disease and advancements in the therapies.
The outbreak of novel coronavirus is an unprecedented shock to the world’s economy. As coronavirus has become the main focus, all research institutes, biotech and pharmaceutical companies are appointed in collaboration work to deal with Covid-19. This led to the shifting of their focus and also all the resources from making other drugs to coronavirus vaccines.
This is hampering the productivity of tenosynovial giant cell tumor drug development. Also due to global restrictions, patients flow into the hospitals and clinics is reduced which is leading to decreased therapies and operations performed.
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The tenosynovial giant cell tumor market is expanding due to the rising concerns and awareness of tumor among the people. The increasing prevalence of the disease is another factor driving the growth of the tenosynovial giant cell tumor market. The advancements in medications and surgical treatment are also expected to drive the growth of the tenosynovial giant cell tumor market.
Apart from drivers, there are some restraints of tenosynovial giant cell tumor market such as unawareness about the disease, lack of medical facilities and advanced resources in underdeveloped nations and high costs of radiation therapies and surgeries.
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Based on the treatment type, drug therapy is expected to hold a major share in the tenosynovial giant cell tumor market, cabiralizumab is the most preferred drug in the tenosynovial giant cell tumor market.
Among the surgical operation, arthroscopy is most widely performed procedure. Based on the end-user, the hospitals are expected to be the most profitable segment in the global tenosynovial giant cell tumor market followed by surgical clinics.
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North America is expected to dominate the global tenosynovial giant cell tumor market, due to the availability of advanced surgical procedures, medications and radiation therapy. North America to be followed by Europe, due to the increasing awareness of diseases among the people.
Asia-Pacific is expected to have a significant growth in the global tenosynovial giant cell tumor market over the forecast period, due to the rising prevalence of various types of tumors. Growing population in countries like China and India is further likely to boost tenosynovial giant cell tumor market in the region.
Some of the market participants in the global tenosynovial giant cell tumor market identified across the value chain include: Novartis International AG, Roche Holding AG, Bristol Myers Squibb Company, Plexxikon, Daiichi Sankyo Company, Limited, Johnson & Johnson, Bayer AG, Pfizer Inc., Eli Lilly and Company, Merck & Co., and others.
