Neurofibromatosis Type 2 Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Neurofibromatosis Type 2 Market is Segmented By Tumor Type (Vestibular Schwannomas, Meningiomas, Other Tumors), By Treatment Type (Surgery (Tumor Removal, Stereotactic Radiosurgery, Others), Radiation Therapy), Drug Therapy (Lapatinib, Selumetinib, Bevacizumab, Others), Others), By End-User (Hospitals, Cancer Centers, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.

Neurofibromatosis Type 2 Market Overview

Global Neurofibromatosis Type 2 Market reached US$ YY million in 2022 and is expected to reach US$ YY million by 2030, growing at a CAGR of YY% during the forecast period 2024-2031.

Neurofibromatosis type 2 (NF2) is an autosomal dominant disorder characterized by the development of multiple tumors involving the central nervous system (CNS). Vestibular schwannomas are the tumors most frequently linked to neurofibromatosis type 2. The onset of neurofibromatosis type 2 symptoms can occur at any age, but they typically manifest in adolescence or the early twenties. 

The NF2 gene codes for the production of the merlin protein. The neurological system, in especially the Schwann cells that encircle and insulate the nerve cells, or neurons, in the brain and spinal cord, produces this protein. As a tumor suppressor, merlin prevents cells from proliferating and dividing uncontrollably or too quickly. 

Neurofibromatosis Type 2 Market Scope

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Neurofibromatosis Type 2 Market Dynamics: Drivers & Restraints

Rise in research and developmental activities  

Increasing focus on research and development and increasing demand for treatment options are expected to drive market growth. The increase in clinical studies is well supported by regulatory authorities which is expected to drive the growth of the neurofibromatosis Type 2 market growth. 

The increasing genetic testing is also expected to increase the demand for the treatment of the disease as the side effects are minimal and the patient pool plays a major role in increasing the access to the available treatments. The development of targeted drugs like MEK inhibitors and TKIs, with encouraging clinical trial results increases the options for the patients suffering frm the disease. Thus, the above factors are expected to increase the market growth in the forecast period.

Market Restraint

Lack of drug approvals and fewer treatment options 

Lack of drug approvals as well as limited treatment options in the market are expected to hinder the market growth. The absence of established, effective treatments creates uncertainty for patients, and healthcare providers are expected to reduce diagnostic procedures and also intervention in treatment procedures. The high cost of manufacturing drugs can also affect the market growth.

Neurofibromatosis Type 2 Market Segment Analysis

The global neurofibromatosis type 2 market is segmented based on tumor type, treatment type, end-user and region.

The surgery segment accounted for 49.8% of the market share 

Surgery is considered to be the first line of treatment in most of the cases. Brain tumor surgery to remove the tumor is the usual course of treatment for the majority of brain tumors that arise with NF2. A craniotomy is a surgical technique where a neurosurgeon temporarily removes a part of the skull to access the tumor. An electrical device known as a hearing implant is surgically implanted as the first line of treatment. 

Cochlear implants are one of the two types of hearing implants used in NF2. In most cases, surgery is still the primary course of treatment. Surgery is typically performed on patients who have lost all hearing or on those who have a tiny tumor where it is feasible to meaningfully try to preserve the nerve that provides hearing. Thus, the above factors are expected to hold the surgery segment in the dominant position.

Neurofibromatosis Type 2 Market Geographical Analysis

North America is expected to hold a significant position in the global neurofibromatosis type 2 market share

North America is expected to hold a dominant position in the market share during the forecast period due to the well-equipped health infrastructure, high-quality diagnostic procedures and equipment, and the increase in pharmaceutical production in the region. 

The increase in the awareness among individuals of diagnostic procedures is also expected to drive market growth. An increase in awareness will increase early detection of the disease condition and proceed with the treatment options which increases the demand for the surgical as well as the drugs that are being allotted for the disease. Thus, the above factors are expected to drive the market growth in the region.

COVID-19 Impact Analysis

COVID-19 has affected the market growth unprecedently. There are many disruptions in healthcare access due to the lockdown and the supply chain has been disrupted among the borders of the country. The clinical trials of the drugs have been halted due to the shift of the company's interest in the production of COVID-19 drugs.

Competitive Landscape

The leading companies with a significant market share include Manus Aktteva Biopharma LLP, AstraZeneca Plc, OCEAN PHARMACEUTICAL, Vivace Therapeutics, Ikena Oncology, Inc., Recursion Pharmaceuticals Inc. among others

Why Purchase the Report?

• To visualize the global neurofibromatosis type 2 market segmentation based on tumor type, treatment type, end-user, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of neurofibromatosis type 2 market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global neurofibromatosis type 2 market report would provide approximately 57 tables, 65 figures, and 179 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies