U.S. SEVERE ORAL MUCOSITIS MARKET ANALYSIS

Oral mucositis is a gastrointestinal inflammation that can cause several problems in the human body. It can affect the general nutritional intake of a person. Oral mucositis is a common health issue arising from cancer treatment and other factors. It causes several problems that include pain, nutritional problems as a result of inability to eat, and an increased risk of infection due to open sores in the mucosa.

The U.S. Severe oral mucositis Market is estimated to be valued at US$ 78.5 Mn in 2021 and is expected to exhibit a CAGR of 19.2% during the forecast period (2021-2028).

Figure 1.U.S. Severe Oral Mucositis Market Share (%) in Terms of Value, By Drug Type, 2021

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Increasing prevalence of head and neck cancer in the U.S. is expected to drive the market growth during the forecast period.

The increasing prevalence of head and neck cancer is a primary driving factor for the growth of the U.S. severe oral mucositis market over the forecast period. According to the American Society of Clinical Oncology (ASCO)’s 2021 report, approximately 4% of individuals suffered from head and neck cancer in the U.S. and an estimate of 66,630 people (48,740 men and 17,890 women) were expected to develop head and neck cancer.

Figure 2 .U.S. Severe Oral Mucositis Market Share (%), by Cause, 2021

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Key players are focusing on inorganic strategies and fund raising, which is expected to drive the market growth during the forecast period.

The key players in the U.S. are focusing on fund raising activities for boosting research and development for the treatment of severe oral mucositis caused due to radiation and chemotherapy in the cancer patients. For instance, in September 2018, Galera Therapeutics, Inc., a company developing novel mechanism-based therapies, announced that the company secured US$ 150 million in a joint, oversubscribed Series C financing and royalty purchase agreement. The financing was led by new investor Clarus with participation from additional new investors Adage Capital Management, HBM Healthcare Investments, Nan Fung Life Sciences, RA Capital, Rock Springs Capital, and Tekla Capital Management LLC. The existing investors Correlation Ventures, Galera Angels, New Enterprise Associates, Novartis Venture Fund, Novo Ventures, and Sofinnova Ventures also participated.

U.S. Severe Oral Mucositis Market– Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic and lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. Private healthcare sector is one of the sectors, which is majorly impacted by the COVID-19 pandemic. Moreover, coronavirus pandemic has negatively impacted the development, production, and supply of pharmaceutical products, and affected the growth of several oral mucositis medication businesses of various companies across the regions such as North America (U.S.). COVID-19 pandemic led to an unprecedented lockdown in several countries such as U.S. This lockdown resulted in closure of industrial establishments except manufacturing of essential commodities and disruption in supply chain of the pharmaceutical products. Thus, COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) by its financial impact on firms and financial markets. Supply chain and manufacturing activities in India, Italy, Spain, the U.K., and the U.S. have been disrupted due to lockdowns implemented by various governments in the past few months, while countries such as Brazil, France, Russia, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drug products. Due to severe shortage of medical resources at the front line, only patients diagnosed with serious conditions are being hospitalized. Unfortunately, the pathogenic mechanism of the virus has not been identified completely, even though, vaccines and drugs are being manufactured by various companies for prevent and treat COVID-19. The COVID-19 pandemic has impacted the global economy and in turn, the U.S. severe oral mucositis market. Quarantine, traveling constraints, and social distancing measures are likely to cause a steep decline in business and consumer spending until the end of the first quarter of 2021.

U.S. Severe Oral Mucositis Market: Restraint

The major factors that hinder growth of the U.S. severe oral mucositis market include high incremental cost associated with severe oral mucositis in cancer patients. For instance, according to the report published by Oxford University Press in 2019, patients undergoing chemotherapy and radiation therapy for the treatment of head and neck cancers have to pay incremental cost for the treatment of complications associated with the treatments such as severe oral mucositis. According to the same source, patients have to pay extra US$ 5,000– 30,000 for the treatment of oral mucositis that was induced due to radiation therapy while patients had to pay US$ 3,700 per cycle for oral mucositis induced due to chemotherapy in the U.S. This treatment cost included hospitalization fees, medication cost (medications included are kepivance (Palifermin), analgesic drugs, and systemic infusions in severe cases, among others), and others.

Key Players

Major players operating in the U.S. severe oral mucositis market are Innovation Pharmaceuticals Inc.*, Monopar Therapeutics Inc., Soligenix, Inc., Oragenics, Inc., Enzychem Lifesciences, Galera Therapeutics, Inc., Amgen, Inc., and Covis Pharma Group